World : New Zealand to Sell Airline, Bank
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From Reuters
WELLINGTON, New Zealand — The government said today that it will sell off the national airline and the country’s leading savings bank for a total of $840 million to help repay its foreign debt.
Air New Zealand and PostBank are being sold to raise funds to help repay a foreign debt of more than $19 billion. New Zealand has never reneged on a repayment, but the nominally Socialist government believes that the burden is too high and that it should not be involved in commercial enterprises.
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