Word: bailouts
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Dates: during 1960-1969
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...will demand performance. "Disbursements," read a U.S. letter answering Dantas, "are expected to be phased in time, as required by the program, and parallel with the successful implementation of the measures described by you." And the U.S. added another hedge: except for an immediate $84 million balance-of-payments bailout, the full $398.5 million commitment is made only "on the assumption that external financial assistance will be successfully negotiated by June 1963 from other sources...
...Federal Reserve Bank in New York. International oil suppliers have agreed to wait till next year to be paid for this year's imports. Such measures should enable Brazil to live on a hand-to-mouth basis until early 1963. After that, it presumably depends on another bailout by the U.S. Last week President Kennedy made it clear that U.S. help depends on how much Brazil helps itself: "There is nothing really that the U.S. can do that can possibly benefit the people of Brazil if you have a situation which is so unstable as the fiscal and monetary...
...effort of the industrial non-Communist world to supply capital to the underdeveloped countries has expanded astonishingly. Britain has doubled her aid in less than three years, Germany has more than doubled hers. The United States has been giving more purely development aid, as distinct from balance-of-payment-bailout aid, than at any time before, including the era of the Marshall Plan. The Cow of public capital to the poorer part of the world is immensely greater than at any other time in history...