811.516 Export-Import Bank/949: Airgram
The Secretary of State to the Ambassador in Cuba (Braden)
A–685. Reference the Embassy Airgram no. 809, April 15, 3:20 p.m. During conversations concerning the $25,000,000 credit of the Export-Import Bank participated in by Dr. Oscar García Montes and Bank representatives, particular reference was made to the desirability, from the long-range viewpoint of Cuba, of a cancellation of the credit. It has, of course, been thoroughly understood that no steps would be taken in this connection that might have unfortunate political repercussions.
Pending further consideration of possible cancellation which is likely to be reviewed again in detail after the Cuban presidential elections, the Department and the Bank have emphasized, in discussions with Dr. García Montes, the need for a thorough reorganization of the Comisión de Fomento National, which it is believed the Cuban Government will wish to undertake in any case whether the Comisión’s funds are received from United States or Cuban sources.
Since the principal consideration in the discussions here has been the possibility of cancellation of the credit it was not felt desirable to introduce any mention of outstanding claims of United States interests against the Cuban Government.
As the Embassy is aware, the Department, of course, continues its active interest in support of American claimants and it uses every appropriate occasion to keep the matter before the Cuban Embassy at Washington.