Community | January 24, 2012 | 6 comments

U.S. to grant three-year extension of loan guarantees to Israel

source: http://haaretz.feedsportal.com/c/34191/f/620528/s/1c1a13cf/l/0L0Shaaretz0N0Cnews0Cdiplomacy0...

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maasanova
I'm confused...didn't the US's credit rating just get downgraded?

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The U.S. government has informed Israel that it will recommend that Congress approve a three-year extension of loan guarantees to Israel, worth $3.8 billion. The announcement came after several months of worry in Israel that the loan guarantees would not be extended, despite Israel's request.

Deputy U.S. Secretary of State Thomas Nides and Deputy U.S. Treasury Secretary Neil Wolin announced the American decision at a meeting with Israeli Deputy Foreign Minister Danny Ayalon on Monday. According to a senior U.S. official, the two emphasized to Ayalon that the recommendation to extend the guarantees through September 2015 would receive wide support from both parties in Congress and would be approved without any problems in the near future

"The U.S. is a true friend and ally of Israel," Ayalon said. "The partnership between the two countries is a natural one. Extending the loan guarantees strengthens the international position of the Israeli economy and will allow the government to continue to raise funds at lower costs."
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    Community,   News and Politics,   Politics
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