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Taxpayers subsidize Eximbank loans to boost exports
Eximbank loans totaling 2.4 billion in fiscal 1973 are offered below domestic rates to aid exports and balance of payments. The bank funds and guarantees loans to finance nuclear power plants aircraft and military equipment abroad while domestic borrowing stays near 10 percent. The 6 percent concessional rate is pitched as necessary for planning and competitiveness despite criticism of domestic side effects.
MENTIONED IN THIS ARTICLE
U.S
Ximbank
Iran
Eximbank
John Petty
Lehman Brothers
the Treasury
Bank of Tokyo
United States
Warren Glick
Russia
Senate
Petty
Glick
Germany
France
Japan
Bank
Nixon