Loan News

Cairo - The Egyptian government formally requested a $4.8 billion loan from the International Monetary Fund (IMF) yesterday. The request was made during a visit by IMF chief, Christine Lagarde.

Nadya Suleman, the octomom, had her house foreclosed on recently and now she has endorsed an instant payday loan service.

Berlin - The German capital city of Berlin still owes a small German town repayment from a loan dating back to 1562. The debt combined with interest amounts to a total of $136.79 million.

Addis Ababa - The South Korean government has approved an $80 million loan for Ethiopia that would finance the Ethiopia-Sudan electric power transmission line construction and expansion project. The deal is expected to be signed this week.

Foreign Minister, Guido Westerwelle announced yesterday that Germany would be loaning the Libyan rebels 144 million Euros ($206 million) in aid for “ civil and humanitarian measures.”

Harare - The government of China has loaned the Zimbabwe government nearly $700 million Monday. The money would go towards the agriculture and health sector. But Chinese Vice Premier Wang Qishan is urging Zimbabwe to respect Chinese businesses.

Tottenham manager Harry Redknapp will attempt to bring former England captain David Beckham to the club for a three-month loan spell. The major league soccer season starts in the US on March 15 and Beckham himself is keen to continue playing.

Berlin - The German Parliament approved today the bailout funding of up to €22.4 billion ($28.3 billion) in emergency loans to Greece.

Photographer Annie Leibovitz, who was to be sued by Art Capital Group and an Italian photographer, has had a slight reprieve. She has been given an extension to the time she has to pay the loan back.

Is China's over four trillion yuan's (US$586 billion) stimulus plan going to boost its domestic economy, or cause massive wastes? Maybe the latter, warned Zhou Xiaochua, chief of China's central bank.