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[Comments on Proposal To Restructure Foreign Military Sales Program Loans]

B-226058 Published: Jul 21, 1987. Publicly Released: Aug 17, 1987.
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Highlights

In response to a congressional request, GAO reviewed the legal propriety of an administration proposal to restructure certain loans under the Foreign Military Sales Program. GAO concluded that the: (1) proposal lacked statutory authority; and (2) United States would incur a substantial risk of significant financial loss under the proposal.

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Debt collectionFederal aid to foreign countriesFinancial managementForeign financial assistanceForeign loansForeign military arms salesGovernment guaranteed loansLoan defaultsLoan interest ratesLoan repayments