Security Assistance: Foreign Military Sales Debt Refinancing
NSIAD-89-175
Published: Aug 16, 1989. Publicly Released: Aug 31, 1989.
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Highlights
Pursuant to a congressional request, GAO assessed the implications and associated costs of Foreign Military Sales (FMS) debt reform legislation that allowed countries to repay FMS loans by refinancing them in the private sector at lower interest rates.
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Foreign loansForeign military sales costsLate paymentsLoan repaymentsFinancial institutionsInterest ratesAdvance paymentsForeign military salesLoan guaranteesPrivate sector