뉴욕타임스의 기사 내용 보고
번호 : INM-1029
일시 : 201700
KOPITAL AND WOINUBU
FOLLOWING ARTICLE APPEARED IN TODAY'S NEW YORK TIMES
ENTITLED QUOTE FOREIGN AID FUND SETS NEW POLICY OF BUYING IN U.S. UNIQUOTE PD THE TEXT OF WHICH READS AS FOLLOWING CLN QIOTE WASHINGTON, OCT. 19___THE DEVELOPMENT LOAN FUND, IN A MAJOR POLICY INNOVATION, ANNOUNCED TODAY THAT IN THE FUTHER ITS LOANS TO UNDER-DEVELOPED COUNTRIES MUST NORMALLY BE SPENT ON AMERICAN GOODS.
UP TO NOW THE FUND HAS ALLOWED BORROWING NATIONS TO SPEND THE MONEY ANYWHERE IN THE WORLD. NEARLY HALF OF THE RESULTING PROCUREMENT HAS GONE TO EUROPE AND JAPAN, RATHER THAN THE UNITED STATES.
VANCE BRAND, MANAGING DIRECTOR OF THE FUND, SAID THAT THE NEW POLICY HAD BE▣KEPTED "IN VIEW OF THE GROWTH IN THE ECONOMIC STRENGTH OF THE INDUSTRIALIZED COUNTRIES OF THE FREE WORLD AND THEIR STEADILY INCREASING ABILITY TO ASSIST THE LESS DEVELOPED COUNTRIES, AND TAKING INTO ACCOUNT THE CHANGES WHICH HAVE TAKEN PLACE IN THE WORLD PAYMENTS SITUATION. "
THE LATEST REFERENCE WAS PRESUMABLY TO THE BIG DEFICIT IN THE UNITED STATES BALANCE OF INTERNATIONAL PAYMENTS, WITH ITS RESULTING OUTFOLW OF GOLD AND BUILD-UP OF FOREIGN ASSETS IN NEW YORK, THE NEW POLICY OF "TYING" LOANS FROM THE FUND TO PROCUREMENT IN THE UNITED STATES SHOULD MAKE SOME CONTRIBUTION IN CUTTING THIS DEFICIT. THE OUTFLOW OF DOLLARS FROM THE LOAN WOULD PRESUMABLY BE MATCHED BY AN INCREASE IN AMERICAN EXPORTS, WITH NO EFFECT EITHER WAY ON THE BALANCE OF PAYMENTS. UNDER THE OLD POLICY, THERE WAS A NET OUTFLOW OF DOLLARS TO THE WORLD TO THE EXTENT THAT THE PROCUREMENT WAS IN FOREIGN COUNTRIES.
OFFICIALS MADE PLAIM THAT ANOTHER PURPOSE OF THE NEW POLICY WAS TO PUT PRESSURE ON THE NATIONS OF EUROPE TO EXTEND MORE LONG-TERM FINANCIAL ASSISTANCE TO THE UNDER-DEVELOPED NATIONS. FROM NOW ON, EUROPE WILL NOT BE ABLE TO COUNT ON EXPORT ORDERS FINANCED BY AMERICAN AID LOANS. IF IT WANTS TO KEEP UP ITS EXPORTS, IT WILL HAVE TO PROVIDE THE FINANCING ITSELF, OFFICIALS EXPLAINED.
MR. BRAND SAID THE NEW POLICY WOULD NOT APPLY TO THE $800,000,000 OF LOANS ALREADY COMMITTEED THAT HAD NOT YET BEEN DISBURSED. THUS THE EFFECT OF THE NEW POLICY ON THE UNITED STATES BALANCE OF PAYMENTS WILL BE DELAYED. ONLY $90,000,000 HAS BEEN DISBURSED SINCE THE FUND'S ORIGIN IN 1957. OF THIS AMOUNT, 56 PERCENT WAS SPENT IN THE UNITED STATES.
MR. BRAND SAID THAT IN THE CASE OF LOAN APPLICATIONS NOT YET FORMALLY APPROVED BUT IN "AN ADVANCED POINT OF CONSIDERATION," THE FUND WILL "GIVE CONSIDERATION TO THE AVOIDANCE OF UNDUE HARDSHIP. "
OFFICIALS SAID THE NEW POLICY WAS NOT AIMED AT A 100 PERCENT "BUY-AMERICAN" RESULT. THERE WILL OFTEN BE SPECIAL CASES, THEY SAID, WHERE FOREIGN PROCUREMENT WILL BE ALLOWED. AN EXAMPLE GIVEN WAS AN UNDER-DEVELOPED COUNTRY THAT HAS A EUROPEAN-MANUFACTURED TELEPHONE SYSTEM AND THAT WISHES TO EXPAND IT.
ALSO, THE NEW POLICY WILL APPLY ONLY TO THE FOREIGN EXCHANGE COSTS OF DEVELOPMENT PROJECTS. THE FUND WILL CONTINUE TO FINANCE IN MODEST AMOUNTS THE LOCAL COSTS OF PROJECTS SUCH AS HIGHWAYS, IN WHICH NO OVERSEAS PROCUREMENT IS INVOLVED. UP TO NOW THIS SORT OF FINANCING HAS AMOUNTED TO ONLY 10 PERCENT OF THE TOTAL.
THE FUND NOW HAS ON HAND ABOUT $515,000,000 IN UNCOMMITTEED FUNDS AND APPLICATIONS TOTALING $1,400,000,000. THE $515,000,000 IS THE AMOUNT LEFT UNCOMMITTED OUT OF THIS YEAR'S CONGRESSIONAL APPROPRIATION OF $550,000,000.
ANOTHER REASON BEHIND THE NEW POLICY, IT HAS EXPLAINED, IS THE DRIVE OF THE FUND TO INTEREST AMERICAN COMPANIES IN PARTICIPATING IN THE INDUSTRIAL PORTION OF ECONOMIC DEVELOPMENT ABROAD. MR. BRAND HAS PREVIOUSLY ANNOUNCED A POLICY UNDER WHICH AMERICAN COMPANIES WOULD BE URGED TO DO THE ENGINEERING AND OTHER GROUNDWORK FOR INDUSTRIAL PROJECTS. THE NEW PROCUREMENT WILL GIVE THESE COMPANIES AN OPPORTUNITY TO MAKE A PROFIT ON SHIPMENT OF THE EQUIPMENT AND MACPINERY.
INASMUCH AS THE BOARD OF DIRECTORS OF THE FUND HAS TOP-LEVEL REPRESENTATION FROM THE STATE DEPARTMENT, TREASURY, EXPORT-IMPORT BANK AND INTERNATIONAL COOPERATION ADMINISTRATION, THE NEW POLICY OBUIDUSLY REFLECTS A BASIS ADMINISTRATION DECISION.
UNIQUOTE
KORIC
FOLLOWING ARTICLE APPEARED IN TODAY'S NEW YORK TIMES
ENTITLED QUOTE FOREIGN AID FUND SETS NEW POLICY OF BUYING IN U.S. UNIQUOTE PD THE TEXT OF WHICH READS AS FOLLOWING CLN QIOTE WASHINGTON, OCT. 19___THE DEVELOPMENT LOAN FUND, IN A MAJOR POLICY INNOVATION, ANNOUNCED TODAY THAT IN THE FUTHER ITS LOANS TO UNDER-DEVELOPED COUNTRIES MUST NORMALLY BE SPENT ON AMERICAN GOODS.
UP TO NOW THE FUND HAS ALLOWED BORROWING NATIONS TO SPEND THE MONEY ANYWHERE IN THE WORLD. NEARLY HALF OF THE RESULTING PROCUREMENT HAS GONE TO EUROPE AND JAPAN, RATHER THAN THE UNITED STATES.
VANCE BRAND, MANAGING DIRECTOR OF THE FUND, SAID THAT THE NEW POLICY HAD BE▣KEPTED "IN VIEW OF THE GROWTH IN THE ECONOMIC STRENGTH OF THE INDUSTRIALIZED COUNTRIES OF THE FREE WORLD AND THEIR STEADILY INCREASING ABILITY TO ASSIST THE LESS DEVELOPED COUNTRIES, AND TAKING INTO ACCOUNT THE CHANGES WHICH HAVE TAKEN PLACE IN THE WORLD PAYMENTS SITUATION. "
THE LATEST REFERENCE WAS PRESUMABLY TO THE BIG DEFICIT IN THE UNITED STATES BALANCE OF INTERNATIONAL PAYMENTS, WITH ITS RESULTING OUTFOLW OF GOLD AND BUILD-UP OF FOREIGN ASSETS IN NEW YORK, THE NEW POLICY OF "TYING" LOANS FROM THE FUND TO PROCUREMENT IN THE UNITED STATES SHOULD MAKE SOME CONTRIBUTION IN CUTTING THIS DEFICIT. THE OUTFLOW OF DOLLARS FROM THE LOAN WOULD PRESUMABLY BE MATCHED BY AN INCREASE IN AMERICAN EXPORTS, WITH NO EFFECT EITHER WAY ON THE BALANCE OF PAYMENTS. UNDER THE OLD POLICY, THERE WAS A NET OUTFLOW OF DOLLARS TO THE WORLD TO THE EXTENT THAT THE PROCUREMENT WAS IN FOREIGN COUNTRIES.
OFFICIALS MADE PLAIM THAT ANOTHER PURPOSE OF THE NEW POLICY WAS TO PUT PRESSURE ON THE NATIONS OF EUROPE TO EXTEND MORE LONG-TERM FINANCIAL ASSISTANCE TO THE UNDER-DEVELOPED NATIONS. FROM NOW ON, EUROPE WILL NOT BE ABLE TO COUNT ON EXPORT ORDERS FINANCED BY AMERICAN AID LOANS. IF IT WANTS TO KEEP UP ITS EXPORTS, IT WILL HAVE TO PROVIDE THE FINANCING ITSELF, OFFICIALS EXPLAINED.
MR. BRAND SAID THE NEW POLICY WOULD NOT APPLY TO THE $800,000,000 OF LOANS ALREADY COMMITTEED THAT HAD NOT YET BEEN DISBURSED. THUS THE EFFECT OF THE NEW POLICY ON THE UNITED STATES BALANCE OF PAYMENTS WILL BE DELAYED. ONLY $90,000,000 HAS BEEN DISBURSED SINCE THE FUND'S ORIGIN IN 1957. OF THIS AMOUNT, 56 PERCENT WAS SPENT IN THE UNITED STATES.
MR. BRAND SAID THAT IN THE CASE OF LOAN APPLICATIONS NOT YET FORMALLY APPROVED BUT IN "AN ADVANCED POINT OF CONSIDERATION," THE FUND WILL "GIVE CONSIDERATION TO THE AVOIDANCE OF UNDUE HARDSHIP. "
OFFICIALS SAID THE NEW POLICY WAS NOT AIMED AT A 100 PERCENT "BUY-AMERICAN" RESULT. THERE WILL OFTEN BE SPECIAL CASES, THEY SAID, WHERE FOREIGN PROCUREMENT WILL BE ALLOWED. AN EXAMPLE GIVEN WAS AN UNDER-DEVELOPED COUNTRY THAT HAS A EUROPEAN-MANUFACTURED TELEPHONE SYSTEM AND THAT WISHES TO EXPAND IT.
ALSO, THE NEW POLICY WILL APPLY ONLY TO THE FOREIGN EXCHANGE COSTS OF DEVELOPMENT PROJECTS. THE FUND WILL CONTINUE TO FINANCE IN MODEST AMOUNTS THE LOCAL COSTS OF PROJECTS SUCH AS HIGHWAYS, IN WHICH NO OVERSEAS PROCUREMENT IS INVOLVED. UP TO NOW THIS SORT OF FINANCING HAS AMOUNTED TO ONLY 10 PERCENT OF THE TOTAL.
THE FUND NOW HAS ON HAND ABOUT $515,000,000 IN UNCOMMITTEED FUNDS AND APPLICATIONS TOTALING $1,400,000,000. THE $515,000,000 IS THE AMOUNT LEFT UNCOMMITTED OUT OF THIS YEAR'S CONGRESSIONAL APPROPRIATION OF $550,000,000.
ANOTHER REASON BEHIND THE NEW POLICY, IT HAS EXPLAINED, IS THE DRIVE OF THE FUND TO INTEREST AMERICAN COMPANIES IN PARTICIPATING IN THE INDUSTRIAL PORTION OF ECONOMIC DEVELOPMENT ABROAD. MR. BRAND HAS PREVIOUSLY ANNOUNCED A POLICY UNDER WHICH AMERICAN COMPANIES WOULD BE URGED TO DO THE ENGINEERING AND OTHER GROUNDWORK FOR INDUSTRIAL PROJECTS. THE NEW PROCUREMENT WILL GIVE THESE COMPANIES AN OPPORTUNITY TO MAKE A PROFIT ON SHIPMENT OF THE EQUIPMENT AND MACPINERY.
INASMUCH AS THE BOARD OF DIRECTORS OF THE FUND HAS TOP-LEVEL REPRESENTATION FROM THE STATE DEPARTMENT, TREASURY, EXPORT-IMPORT BANK AND INTERNATIONAL COOPERATION ADMINISTRATION, THE NEW POLICY OBUIDUSLY REFLECTS A BASIS ADMINISTRATION DECISION.
UNIQUOTE
KORIC
1959 OCT 21 AM 11 43
색인어
- 이름
- VANCE BRAND
- 지명
- U.S., WASHINGTON, EUROPE, JAPAN, UNITED STATES, UNITED STATES, NEW YORK, THE UNITED STATES, EUROPE, EUROPE, THE UNITED STATES, THE UNITED STATES
- 관서
- STATE DEPARTMENT
- 기타
- NEW YORK TIMES, EXPORT-IMPORT BANK
