Word: loan
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Dates: during 1960-1969
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...present U.S.A. international policy towards Latin America, in order to conquer Latin American Friendship, and prevent the progress of Communism, has depended greatly upon enormous loans or donations. This is your great weapon, but still a poor one. That policy in many Latin American countries has never been recognized in the past by Latin American people. If ever they recognize the benefits of the loans, they attribute it to their government, that is in charge of the distribution of such a loan, but seldom to the U.S. government...
...present moment you have success with the "Alliance for Progress" in Latin American countries, it is only because the loan is still in the form of the promise. But once the loan is conceded, the effect, as generally has happened, will probably diminish. Actually the loan policy is extremely important, but the U.S. should try also another one, a less spectacular one whose results can only be evinced in a long-term run, in five or ten years time...
...club was arrested, along with other outspoken officers. But then everybody got a raise. Congress shouted through an average 80% pay increase for all federal employees, including the armed forces. President Goulart, who had solemnly promised President Kennedy a period of austerity in return for a $398.5 million dollar loan commitment, signed the big pay raise. Before the month is out, printing presses will have to roll off about 50 billion new cruzeiros to add to the 54 billion already printed this year. That's August in Brazil...
...thus precipitate a run on the dollar. Under Secretary Robert Roosa was opposed to any U.S. drawing from the IMF. The Treasury learned only recently that it had lost the battle inside the Administration, was given the job of drafting the tax measure and arranging for the IMF loan, both of which it has now come around to favoring...
Sulking Sultan. When a breakthrough seemed near, Abdul Rahman flew to London, sat in his hotel suite waiting for the signing ceremony. When a last obstacle appeared, Sandys persuaded Lee to iron it out privately with the Tunku. The final agreement compromised on financial issues. Singapore will loan money to the Borneo territories rather than give it outright, and a federation common market will gradually replace Singapore's freeport status...