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The only problem is that current law precludes the extension of Commodity Credit Corporation agricultural export credits unless there is a reasonable prospect of repayment.
CENTERFORSECURITYPOLICY: Trying to put Moscow on the dole
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The Center for Security Policy calls upon the Commodity Credit Corporation to refrain from any action that would raise further questions about its management of taxpayer resources within its purview.
CENTERFORSECURITYPOLICY: Center for Security Policy | Soviets Ask U.S. To Stick It To American Taxpayers As Banks Won��t Take Any Exposure On Loans To Moscow
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The Center expects that, within six months, this will take the form of offering Gorbachev U.S. taxpayer-supported credit lines through the Export-Import Bank and the Commodity Credit Corporation, as well as government-backed insurance coverage through the Overseas Private Investment Corporation.
CENTERFORSECURITYPOLICY: Center for Security Policy | ��Trumping�� For Dollars: Moscow Plays Favorites In Payments To Western Creditors
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Evidence of its dilemma can be found in initial White House reluctance even to acknowledge publicly the full magnitude of Moscow's latest bid to tap U.S. taxpayer largesse via credits supported by the Department of Agriculture's Commodity Credit Corporation (CCC).
CENTERFORSECURITYPOLICY: Center For Security Policy
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"This fall, we will almost surely be told by the Bush Administration that Eximbank and Commodity Credit Corporation loan guarantees are needed for U.S. firms and banks to compete with our allies in the Soviet market, " noted Roger W. Robinson, Jr.
CENTERFORSECURITYPOLICY: Center For Security Policy
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The Center anticipates that the Bush Administration will privately inform the allies that restored Soviet access to Export-Import Bank loans and credit guarantees, 3-year Commodity Credit Corporation grain loans and Overseas Private Investment Corporation insurance coverage represent a substantial U.S. assistance package to the USSR.
CENTERFORSECURITYPOLICY: Center for Security Policy | Center Commends Cheney, Challenges Bush On Western Bail-Out Of Moscow
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Moreover if, as the Center expects such a creditworthiness assessment supports the conclusion that prompt repayment of U.S. government guaranteed loans is no better than a fifty-fifty proposition, any such transactions as are authorized (for example, Commodity Credit Corporation three- or ten-year guarantees for grain purchases) be formally described as outright grants.
CENTERFORSECURITYPOLICY: Center for Security Policy | ��Don��t Bother Us With The Facts��: Allies Preempt IMF-Led Study On Soviet Economy