The Ambassador in Paraguay (Beaulac) to the Secretary of State

No. 1320

Sir: Supplementing the Embassy’s telegram no. 586 of December 3, 3 p.m.,68 I have the honor to enclose a copy and translation of note no. 940, dated December 3, 194568 from the Foreign Office, informing the Embassy that $74,584.00 of the amount due the Export-Import Bank was transferred to the Bank on November 30 and that the remainder due, $38,376.05, would be transmitted during the month of December.

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The note of the Minister of Finance, which is transcribed in the Foreign Minister’s note, states that the Ministry of Finance will suggest a formula which will furnish greater assurance of regular service of the Export-Import Bank’s credit. I have reminded the Minister of Foreign Affairs, orally, that such a formula has already been suggested by the Export-Import Bank, and that a copy of the revised payments plan was given to the Paraguayan Ambassador in Washington, while another copy was handed to the Foreign Minister by me. I have also reminded the Minister of Foreign Affairs of this plan, concerning which he appeared to be uninformed.

Since receiving the enclosed note, I have been informed by the Minister of Finance that a draft for the remaining $38,776.05 has likewise been sent to the United States, and that Paraguay is again up to date on its payments.

Respectfully yours,

Willard L. Beaulac
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