832.51/6–1247: Telegram
The Ambassador in Brazil (Pawley) to the Secretary of State
secret
Rio de Janeiro, June 12,
1947—8 p.m.
719. In effort to bring to successful conclusion number pending questions with Brazilian Government, I requested conference June 10 with President Dutra, Foreign Minister Raul Fernandes, Finance Minister Correa e Castro, and Agricultural Minister Daniel de Carvalho. Entire agenda was not covered but following items were discussed:
- 1.
- Monetary fund.22 Brazil has been granted extension time pending final establishment rate of exchange. President and Ministers indicated definite interest and that Brazil would arrange to participate but would make no commitment regarding date. My opinion is Brazil will join fund but will require further pressure our part if to join near future.
- 2.
- Minister Agriculture has submitted memo as basis for possible request Exim Bank loan $450,000,000 to improve transportation system Brazil. I pointed out that recently Finance Minister previously refused a loan of $50,000,000 which had Exim Bank approval for same purpose. I told President Dutra that if Brazil had well-defined program of productive investments then such program could be submitted to World Bank for consideration but offered no encouragement.
. . . . . . .
Pawley
- International Monetary Fund, an instrumentality resulting from the United Nations Monetary and Financial Conference of July 1944. It was established to promote monetary cooperation, international trade, exchange stability, and to assist in creating a multilateral system of payments in respect of current transactions.↩