Word: importance
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Dates: during 1950-1959
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...remarked a Latin American delegate to the inter-American economic conference at Rio. To the end last week, the U.S. delegation stuck amicably but steadfastly to the main line laid down at the beginning by Secretary of the Treasury George Humphrey: a promise of "expanded" loans from the Export-Import Bank and the World Bank, together with an urgent recommendation that the Latin nations try to attract more private U.S. capital...
...Latinos wanted price floors for the raw materials they supply the U.S.; Humphrey countered that "We as governments should reduce . . . our own intervention in the fields of commerce and industry." The Latinos wanted outside financing totaling $1 billion a year; Humphrey suggested "intensified and expanded" loans by the Export-Import Bank and the World Bank, and" promised that the U.S. would be not only a Good Neighbor but also a Good Partner...
...plan is to form a huge credit pool called Foreign Finance Co. to minimize the risk to any one company. Under the plan, exporters would only collect a 20-25% down payment from foreign buyers; the remaining 75-80% would be financed jointly by the company itself, the Export-Import Bank and the new Foreign Finance...
...implacable foe of any foreign-capital oil investment in his homeland. His enemies say that Mattei, more than anyone else, is responsible for scaring away the very type of enlightened foreign capital that Italy must have to complete its economic recovery. Italy, which has always had to import most of its coal and oil at high cost, has promising oil and gas formations, notably in the Po Valley. The big question is: Who will be allowed to develop the oil and who can do it best...
...Export-Import Bank announced a new policy of extending general credit lines up to $10 million each to exporters of capital equipment. The foreign customer must pay 20% down; the U.S. exporter must finance 20%, and the Export-Import Bank will lend the rest. The two first credit lines under this policy: $4,000,000 to The Oliver Corp. (farm implements); $6,000,000 to Combustion Engineering, Inc. (steam boilers...