The cash crisis forced Gall and Cooke to rely on purchase-order financing--in essence, factoring receivables before they are even receivable.
Europe and the world should seek "to disrupt the group's financing schemes and operational networks in order to prevent future attacks", he added.
He had received a sizable contract from the military (payment guaranteed) and was looking to get financing to fulfill on the purchase order.
FORBES: Why Business Owners Should be Cheering for Alternative Lenders
In essence, Mr Brown accepts that in order to meet the "huge financing challenge" of achieving the internationally agreed Millennium Development Goals (MDGs) by 2015, the current aid regime will not be enough.
Now, what we did was we encouraged the private sector, gave them the funding, the financing, the support, the infrastructure support in order to invest and get the economy moving again.
Helped by cheap bank financing, shippers have at least 260 new vessels on order.
Mr Bentley said RMB still backed the scheme and was "evaluating project debt capacities under a range of varying gold price scenarios in order to assist the company in evaluating an optimal approach to financing the project".
BBC: Falling gold prices delay plans to reopen Cononish mine
The idea has been advocated by the Italian finance minister, Giulio Tremonti, as well as billionaire investor George Soros as a way of providing cheap financing to struggling governments while also incentivising them to put their finances in order.
These figures were released on a preliminary basis in order to facilitate communication with investors surrounding the proposed senior secured loan financing transaction.
More restrictive fiscal paths are being proposed in order to avoid rapidly rising government debt-to-GDP ratios and the financing challenges they may entail, including the possibility of default for nations without sovereign currencies.
FORBES: Ugly Choices Ahead For Central Bankers: Will The Yen Drop 50%?
应用推荐