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The Ambassador in Brazil (Gibson) to the Secretary of State

26. Department’s 14, January 16, 4 p.m. I have just seen the Minister of Finance who, on congratulating me on the successful conclusion of negotiations, stated that he is in entire agreement with Council’s proposals provided total frozen credits do not exceed 30,000,000. In the event that they do exceed this sum, such excess will be liquidated at the equivalent rate of £100,000 per month after expiration of the 55 months agreed on. He has telegraphed this to Aranha.