Foreign Relations of the United States, 1961–1963, Volumes VII, VIII, IX, Arms Control; National Security Policy; Foreign Economic Policy, Microfiche Supplement

348. Telegram 3001 from Paris, December 9¹

Paris, December 9, 1961, 5 p.m.

For Treasury from Leddy. Pass Southard. Reference: Embtel 2963.

As result discussions here December 8 and 9, draft agreement revised, made more concise and converted into form of letters addressed by French Finance Minister (in his capacity of Chairman Ministerial meeting) to each of other participants and short replies confirming understanding as set forth in letters. Text of exchange of letters, draft confirmations thereof, and suggested minute of Ministers meeting to be before Ministers next week, contained in immediately preceding telegram. Jacobsson is cabling over weekend full text of draft fund decision for distribution to EXED Board members. Southard can obtain copy from Fund Monday morning. Basis these documents request Treasury obtain NAC telephone poll accordance Secretary’s request. Concensus of meeting here December 9 that only four major questions expected to be discussed by Ministers: (1) Amount of commitments of participants;

(2) Duration of Fund decision (3 or 5 years);

(3) Method of voting procedure (on which clear reservation only by Netherlands);

(4) Chairman of Ad Hoc Committee.

Gavin

1. Further discussion of IMF borrowing arrangement. Official Use Only. 2 pp. Department of State, Central Files, 398.13/12–961.