BREAKING NEWS

US Treasury guarantees $1.5b. bond issue by Jordan, rare form of aid

By REUTERS

JULY 3, 2015 17:03

NEW YORK - The US Treasury, at the behest of the US State Department and the United States Agency for International Development (USAID), guaranteed $1.5 billion worth of bonds issued by Jordan earlier this week.

The purpose of the bonds, according to the US government agencies, was to "provide critical services to its citizens as it hosts nearly 630,000 Syrian refugees."

But no one at State, Treasury or USAID would say exactly how the $1.5 billion would be used or what specific projects it would fund, either for the refugees or the Jordanians.

The guarantee means that if Jordan defaults on the bonds, US taxpayers would have to repay both the principal and interest.

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