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Washington will lend more than U.S. $ 5 billion more in GM and Chrysler

The American state will lend up to U.S. General Motors has additional $ five billion by June 1, and up to U.S. $ 500 million Chrysler by April 30, according to a federal report. These funds will be used as working capital, the time that the two American automakers in trouble present their restructuring plans, as if it was binding on the president Barack Obama on March 30, according to the quarterly report of the Inspector General on the bailouts of banks and auto unveiled Tuesday.

The precise amount of aid must still be negotiated with GM and Chrysler said Tuesday a source familiar with the matter. Facing the serious crisis in the automotive industry, GM has already received U.S. $ 13.4 billion in loans from federal, and Chrysler U.S. $ four billion.

Team work Barack Obama dismissed March 30 restructuring plans presented by both companies and gives Chrysler has until April 30 to reduce its costs or finalize a partnership with Italy's Fiat, on pain of liquidation . GM got a reprieve until June 30 to submit a plan satisfactory to the White House, and will be placed under the purview of the bankruptcy if it failed.

The CEO of GM Fritz Henderson said last week that the manufacturer would need U.S. $ 4.6 billion during the second quarter of 2009. According to the report released Tuesday, the American Treasury department has expense 24800000000 U.S. $ in the bailout of the auto industry, initially on a fixed total to U.S. $ 25 billion.

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