Word: inter-american
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...dramatic reversal of long-frozen policy, the U.S. last week agreed to help set up an international bank for Latin American economic development. At a special session of the Organization of American States, World Financier C. Douglas Dillon, now Under Secretary of State for Economic Affairs, announced: "The U.S. is prepared to consider the establishment of an inter-American regional-development institution." Latin America's joyous response was summed up by El Salvador Delegate Julio Heurtematte: "It is the realization of an old dream...
...dream of an inter-American development bank goes back to the First International Conference of American States in Washington in 1889-90. The idea came up again in Mexico City (1901-02), Washington (1931), Montevideo (1933), Buenos Aires (1936), Lima (1938), Guatemala City (1939) and Bogota (1948). By 1948 the World Bank, the International Monetary Fund and the Export-Import Bank had been launched; the U.S. took the view that any added agency would be a duplication, held steadfast to this position at inter-American conferences in Washington (1950), Caracas (1954), Petropolis (1954) and Buenos Aires...
Hold the Vultures. Dulles flew down to talk with President Juscelino Kubitschek and to repair the damage done to inter-American solidarity by the anti-Nixon riots last May. Kubitschek had written to President Eisenhower suggesting a presidential get-together. Later he proposed "Operation Pan-American" for a long-run strengthening of the hemisphere's bonds by planned economic development. Dulles studied Kubitschek's proposals on the long flight south, and also read reports of the reception being planned for him by leftists and nationalists. Flocks of vultures were to be released, roadblocks set up, demonstrations staged...
Ibec Housing signed a contract with the intergovernmental Pan American Union, which developed the press at the Inter-American Housing Center in Bogota, will pay royalties to the P.A.U. The company expects to sell the Cinva-Ram Block Press at a profit and should find a big market. Close to 2,000 inquiries already have poured in to the P.A.U. and Ibec Housing...
...Canal employees are paid according to separate wage scales. His No. 1 mission, however, is asking questions and getting answers about Central America's economic problems, and he took along key men to help him with the job. With him were Roy Rubottom, Assistant Secretary of State for inter-American Affairs; Tom B. Coughran, Assistant Secretary of the Treasury; Export-Import Bank President Samuel C. Waugh; and Development Loan Fund Manager Dempster Mclntosh. Along to handle hostess duties was Milton's daughter Ruth...