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...report on anyone suspected of being a Communist or a rebel. Furthermore, through a kind of super PX that just grew and grew in the past year, the army also runs a financial empire that even U Nu would find hard to dislodge. Among its activities: a bookshop, bank, import-export bureau, bus company, electrical-appliance outlets, a fuel-supply firm, a department store, a shipping line, the control of nearly all fisheries, as well as plans to sell everything from shoes to paint to coke...
...with the government-run National Marketing Corp. Next he turned to the Cabinet itself, firing Secretary of Commerce Pedro Hernaez, the party treasurer, whose strategic position made him an ideal political fund raiser among businessmen. He also fired Finance Secretary Jaime Hernandez, whose job included the granting of dollar import licenses. As new Finance Secretary he named energetic Economist Dominador Aytona, 41. budget commissioner under the late incorruptible President Ramon Magsaysay. Aytona has already turned up 50 million pesos ($25 million) worth of questionable transactions, and has proposed indicting 50 customs employees...
That seems to be the easygoing appraisal of the U.S. Export-Import Bank in granting loans totaling $47.5 million to Indonesia last week for 1) a plant to use the natural gas of Palembang's oilfields for making fertilizer for Indonesia's rice terraces, 2) an electric power plant for East Java. The loans, largest to be granted by the bank to Indonesia in ten years, were announced just five weeks before Soviet Premier Khrushchev's scheduled good-will visit to Djakarta. Flashing his brightest smile, President Sukarno assured housewives on a Djakarta street corner that...
...IMPORT SURGE in December, to a record $1.5 billion, cut U.S. trade surplus for 1959 to the lowest amount since World War II, $1.1 billion-even though December exports rose to a two-year high of $1.7 billion. U.S. wound up 1959 with commercial exports of $16.3 billion, imports of $15.2 billion...
...Development loans - which Latin America so far has invariably repaid and which Latin Americans overwhelmingly prefer to outright grants - could be stepped up. Washington's loans since the war total $2.5 billion, but currently the Export-Import Bank is cutting sharply and the new Inter-American Development Bank is still in the throes of organization...