201. Editorial Note

Adlai E. Stevenson sent a long memorandum to President Kennedy on September 14, 1962, in which he urged support for a U.S. proposal to increase the capital of the International Development Association from $1 to $4 billion over the next several years. The International Monetary Fund and the International Bank for Reconstruction and Development, which included the IDA, were going to discuss this proposal at its upcoming annual meeting in Washington. Stevenson argued that the IDA would require these additional reserves in the near future and that the increase would provide a unique opportunity to ask the Western European countries and Japan not only to spend more money on economic development but to provide it on easier lending terms. Stevenson’s memorandum is printed in Papers of Adlai E. Stevenson: Ambassador to the United Nations, 1961-1965, volume VIII, pages 289-291. Regarding the IMF-IBRD annual meeting, see Document 62.