840.51 Frozen Credits/8477: Telegram
The Secretary of State to the Ambassador in Argentina (Armour)
1846. From Acheson. Your 2367,32 236833 and 2382.34 The Department concurs with the recommendations in your 2367. The information which was the basis for denying new credits to the Banco de la Provincia and the Banco de la Nación is being revised and will probably be made available to the Central Bank. Please do not make any commitments in this connection. It may be desirable to indicate that the two banks and the Central Bank must already be aware of the reasons underlying the Treasury action.
You are authorized to undertake with the Central Bank such discussions of the Argentine controls as you deem appropriate. It is requested, however, that you not give the impression that the extension of United States controls will be suspended until the discussions are completed. In connection with these discussions, you might point out to the Central Bank that it would be helpful if the Department, as a first step, could be promptly furnished with the following information regarding the two banks:
- a)
- The volume of remittances effected by each bank to Europe during the last year, broken down by countries, with an indication of the volume of remittances in which a Proclaimed List interest was involved.
- b)
- The volume of remittances effected to or for Proclaimed List nationals within this hemisphere during each month since the promulgation of the Proclaimed List.
- c)
- The average volume of credits which each bank has had outstanding to Proclaimed List interests within this hemisphere each month since the promulgation of the Proclaimed List, broken down by countries.
- d)
- The amount of credits which have been extended to, or renewed for, Proclaimed List interests each month since the promulgation of the Proclaimed List.
Please promptly inform the Department regarding the Central Bank’s reaction to the request for this information and indicate the time when it will be available.
A more detailed reply follows. [Acheson.]