Foreign Relations of the United States: Diplomatic Papers, 1943, The American Republics, Volume V

811.516 Export-Import Bank/733: Telegram

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

Rio de Janeiro, March 16, 1943—6 p.m.
[Received 9:22 p.m.]

1292. During Warren Pierson’s stay we have made encouraging progress on a financing program for naturalization [nationalization] of Axis interests here. Agreement has been reached with the Bank of Brazil on principles to be observed and with regard to Export-Import Bank participation on a loan basis through the Bank of Brazil. However, further negotiations with the Minister of Finance⁸⁴ and General Portella, Chairman of the Economic Defense Commission, are scheduled for the next week or 10 days. Pierson is leaving for Lima March 19. He suggests, and I agree, that Walmsley⁸⁵ stay here a few days longer to cooperate with us in this work.

If the Department approves, Pierson and Walmsley should reach Washington approximately March 30.

Caffery

84. Artur de Souza Costa.
85. Walter N. Walmsley, Assistant Chief, Division of the American Republics.