DETROIT -- On Friday, General Motors (GM) Chairman and CEO Ed Whitacre announced that the automaker has begun to pay back loans to the U.S. and Canadian governments. GM returned $1 billion to the U.S. Treasury and $192 million to Export Development Canada.

"We are grateful for the support the governments have provided us," Whitacre said in a statement. "We look forward to continuing repayments through June 2010, at which time the balances will be paid in full, assuming no downturn in the economy or business."