General Motors repays TARP loan in full: Treasury

By IBTimes Staff Reporter | April 21 2010 1:32 PM

The U.S. Treasury Department confirmed on Wednesday that automaker General Motors Co has repaid the $4.7 billion balance in Trouble Asset Relief Program debt it owed.

Sponsorship Link

The repayment comes five years ahead of the loan maturity date and ahead of the accelerated repayment schedule the company announced last year, Treasury said.

We are encouraged that GM has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability, Treasury Secretary Timothy Geithner said in a statement.

(Reporting by Nancy Waitz; editing by Patrick Graham)

More in Politics

North Korea Frees Chinese Fishing Boat And Crew

Chinese Accused Of Inflating Trade Surplus Tenfold

‘Monsanto Protection Act’ May Be Repealed Via Farms Bill Amendment

‘Monsanto Protection Act’ May Be Repealed Via Farms Bill Amendment

China And India Sign Eight-Part Agreement To Further Relations Despite Border Dispute

China And India Sign Eight-Part Agreement To Further Relations Despite Border Dispute

In Depth

How To Solve Pakistan’s Energy Crisis? Turn Off Air Conditioners, Wear No Socks

Pakistan's Creative Way To Solve Its Energy Crisis

The Sharing Economy: What You Need To Know Before You Sign Up

How To Get The Most Out Of The Sharing Economy

African Coins Found In Australia: 1,000-Year-Old Discovery May Rewrite Country's History, Was James Cook The First'? [PHOTO]

1,000-Year-Old African Coins Found In Australia May Rewrite Country's History

More Media Layoffs: Village Voice’s Michael Musto And Michael Feingold Fired; AOL’s Patch Hit Hard

Media Layoffs: AOL’s Patch, Village Voice Hit Hard

web counter