838.51 Cooperation Program/12–1146

The Ambassador in Haiti (Tittmann) to the Secretary of State

No. 168

Sir: With reference to the Embassy’s telegram 485, November 12, I have the honor to submit below some observations which might be helpful to the Department in preparation for the forthcoming trip to Washington of the Haitian Finance Minister, M. Margron, for the purpose of discussing Haiti’s debts with the American authorities.

In order that there might be no misunderstanding with regard to the terms of reference of Margron’s visit, I handed him personally on November 30 last a copy of the following statement based on the Department’s telegram no. 316.77

“The Department of State and Export-Import Bank perceive no objections to the visit to Washington of the Finance Minister to discuss refunding the obligations of Haiti to the Export-Import Bank (Public Works and SHADA Loans), provided it is clearly understood that (a) he is making the trip on his own initiative; (b) his reception by the Export-Import Bank or Department of State does not imply willingness to consider debt reduction. The Department of State is not prepared to suggest to bondholders any proposal less favorable than has already been indicated (amortization of $700,000).

“Furthermore, Export-Import Bank at this time is firmly opposed to any arrangement that would waive any portion of indebtedness to Bank. Therefore it would appear desirable that Haitian Government should not arouse false hopes or publicity regarding what might be accomplished on trip.”

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Respectfully yours,

Harold H. Tittmann
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