Editorial Note

During the period from late August to late October, Panamá was visited by three financial missions representing, respectively, the United States Export-Import Bank, the International Bank for Reconstruction and Development, and the International Monetary Fund. The purpose of the Export-Import Bank mission was to complete the details of the new $1.5 million loan for the Hotel El Panamá which had been authorized the previous July and of refinancing the original loan of $2.5 million to the hotel. The IBRD mission had been invited to come in order to determine what technical assistance might be of benefit to the country. The IMF mission came primarily to examine the general economic situation in the hopes of formulating economic and monetary policies which would allow for the improved utilization [Page 1559] of the country’s resources. The activities of these missions are described in despatch 289, from Panamá, October 19, 1951, not printed (398.14/10–1951). Additional pertinent documents are in decimal files 103–XMB, 398.13, and 819.10.