The Acting Secretary of State to the Ambassador in Costa Rica (Johnson)
284. Negotiations regarding stabilization agreement mentioned urgram 362 Sept 1611 in progress but not yet concluded. Matter presently before National Advisory Council for decision. Embassy’s views regarding both economic and political advisability this Govt’s concluding arrangement would be helpful to Dept’s representative Council. Please send urgent telegram to reach Dept Mon.
- Not printed; Ambassador Johnson referred to a visit in August and September to the United States of the President of National Bank of Costa Rica (Madrigal) who, upon his return, informed officers of the Embassy that while in Washington he had arranged with United States Treasury Department officials to set up a stabilization credit of up to 5 million dollars in order to support the Costa Rican monetary unit until such time as the International Monetary Fund was fully functioning and prepared to assume a similar responsibility (818.51/9-1646).↩