Word: nondollar
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Dates: during 1948-1948
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British and other nondollar traders cheered what amounted-for them-to a 20% drop in Argentine prices. ECA officials, glad to see European countries get any kind of a break, agreed that the decrees were "a step in the right direction." But they scoffed at the Buenos Aires story that it was part of a big deal that would shoot ECA dollars into Argentina. That still waited for: 1) lower Argentine wheat and meat prices; 2) Argentine willingness to pay at least part of the estimated $475 million now owing to U.S. firms...