PA–11. Editorial Note
Between August 29 and September [?], 1960, an International Monetary Fund mission was in Paraguay to investigate the country’s current economic situation. The mission, headed by Geraldo Costanzo, also included Kemal Kurdas and Edgar Pichiotto from the Fund’s Washington headquarters, and Richard A. Radford, the Fund’s Resident Adviser to the Paraguayan Central Bank. In despatch 76 from Asunción, August 29, 1960, the Embassy informed the Department about the activities of the mission. (393.13/8–2960)
On October 7, 1960, the Fund’s Executive Board approved a one-year standby arrangement of $3.5 million for Paraguay. (Telegram 70 to Asunción, October 10, 1960; 393.13/10–1060)