Obama signs law providing Ukraine loan guarantees

[dipsydoodle]

Source: International - The News

WASHINGTON: President Barack Obama has signed into law a bill providing $1 billion in loan guarantees to Ukraine.

The legislation signed by the president on Thursday also punishes Russia for its bold annexation of the Ukrainian region of Crimea.

The law calls for the direct imposition of sanctions on certain people with regard to Ukraine.

Some in Congress are pushing Obama to take further steps, including increasing natural gas exports to Europe.

Read more: http://www.thenews.com.pk/article-143454-Obama-signs-law-providing-Ukraine-loan-guarantees

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I still don't fully understand the use of the expression "loan guarantees" which conveys the US will underwrite loans by others as opposed to loaning government funds.

[Live and Learn]

1. I think it means we are the cosigners

and will pay up if the loans aren't repaid. Of course, most of us learn early that cosigning isn't a good idea unless you are willing to accept that the loan will, in all likelihood, have to be repaid by you.

[Laelth]

2. This ticks me off. n/t

-Laelth