OPEC COUNTRIES: SIZE AND DISTRIBUTION OF OFFICIAL FOREIGN ASSETS ON 31 DECEMBER 1976

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• Publication Date: August 1, 1977
• Content Type: REPORT

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OPEC Countries: Size and Distribution
of Official Foreign Assets
on 31 December 1976
Secret
ER 77-10464
August 1977
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Noforn
OPEC Countries: Size and Distribution
of Official Foreign Assets
on 31 December 1976
Central Intelligence Agency
Directorate of Intelligence
Key Judgments
Official foreign assets of the OPEC countries increased by $26.9 billion
during 1976, growing from $105.3 billion at yearend 1975 to $ 132.2 billion
at yearend 1976. Saudi Arabia and Kuwait accounted for more than half of
the increase. Nigeria and Venezuela experienced declines in their reserves.
OPEC's portfolio continued to shift toward longer term, higher yield
assets. Saudi Arabia and Kuwait in particular sought to increase rates of
return on their assets by investing heavily in longer term government and
corporate issues.
The $26.9 billion increase in the value of OPEC members' foreign
holdings fell $12.8 billion short of their combined current account surplus.
The difference was largely the result of:
? A sharp rise in receivables from the oil companies due to
increasing oil sales and the two- to three-month lag between
liftings and payments.
? Net repayments of debt by the OPEC countries.
? Private investment abroad.
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Noforn
OPEC Countries: Size and Distribution
of Official Foreign Assets
on 31 December 1976
Developments in 1976
Foreign official assets of OPEC member
countries increased $26.9 billion during 1976,
bringing total holdings at yearend to $132 bil-
lion (tables 1 and 2). A $10.4 billion increase in
Saudi Arabia's holdings accounted for nearly 40
percent of the rise. Kuwait, Qatar, and the
United Arab Emirates also posted large gains in
foreign holdings last year.
Owing in part to the strengthening of oil
demand in 1976, nearly all OPEC members
shared in the reserve increase. Algeria, Libya,
Iraq, Indonesia, and Ecuador, which experi-
OPEC Countries: Foreign Official Assets'
Million US$
31 Dec 1974 31 Dec 1975 31 Dec 1976
Total ....................... 77,580 105,295 132,230
Algeria ................ 2,490 1,915 2,520
Ecuador .............. 410 330 555
Gabon .................. ...E 150 150
Indonesia ............ 1,540 630 1,545
Iran ...................... 9,880 12,355 14,235
Iraq ..................... 3,875 3,345 5,130
Kuwait ................ 10,080 14,915 19,260
Libya .................. 4,170 2,490 3,900
Nigeria ............... 5,940 5,880 5,275
Qatar .................. 1,650 2,800 4,175
Saudi Arabia ..... 22,050 38,645 49,000
UAE .................... 6,945 11,300 16,090
Venezuela ........... 8,555 10,540 10,390
enced reserve declines in 1975, all boosted their
holdings last year. Two countries-Nigeria and
Venezuela-had to dip into reserves in 1976.
About 85 percent of OPEC's 1976 invest-
ments went into medium- and long-term assets,
including substantial investments in equities and
corporate fixed-interest issues. The share of
OPEC funds going into bank deposits declined
from 31 percent in 1975 to 17 percent in 1976.
The decline reflects mainly a reduction in the
use of short-term deposits. Many OPEC mem-
bers formerly used such deposits as a vehicle for
investing surplus funds without having to make
difficult investment decisions.
OPEC Countries: Change in Foreign Official Assets'
Million US$
Total ................................
Algeria .........................
Ecuador .......................
Gabon ...........................
Indonesia .....................
Iran ...............................
Iraq ..............................
Kuwait .........................
Libya ...........................
Nigeria ........................
Qatar ...........................
Saudi Arabia ..............
UAE .............................
Venezuela ....................
' Rounded to nearest $5 million. Because of rounding, compo-
nents may not add to totals shown.
E Gabon's foreign official assets are not listed because Gabon did
not become a full-fledged member of OPEC until 1975.
Yearend 1974 to
Yearend 1975
27,715
-575
- 80
150
-910
2,475
-525
4,835
-1,680
- 60
1,150
16,595
4,355
1,985
Yearend 1975 to
Yearend 1976
26,935
605
225
0
915
1,880
1,785
4,345
1,410
-600
1,375
10,355
4,790
-150
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Table 3
OPEC Countries: Composition of Investment
Billion US$
1975
1976
Total ............................................
27.7
26.9
Gold/SDRs/IMF position ' ...
-1.9
0.3
Bank deposits .........................
8.6
4.5
Short-term ...........................
8.3
1.1
Medium- and long-term..
0.3
3.4
Government securities ..........
7.9
9.8
Short-term ...........................
- 3.2
3.0
Medium- and long-term..
11.1
6.8
Other .......................................
13.1
12.3
Corporate securities ..........
3.8
5.7
Real estate ..........................
Negl.
Negl.
Other ...................................
9.3
6.6
Location*
OPEC asset holdings in the US increased
by $7.5 billion during 1976-30 percent of the
total rise in OPEC's foreign holdings. Saudi Ara-
bia and Kuwait together added $8.3 billion to
their holdings in the US. Nigeria and Venezuela
drew down their US balances last year by nearly
$2 billion. OPEC members placed about 45
percent of their 1976 investments in continen-
tal Europe, mainly in Eurodollar deposits.
OPEC Countries: Location of Investment
Billion US$
1975
1976
Total ............................................
27.7
26.9
United States ..........................
6.3
7.5
Continental Europe ...............
7.6
11.9
United Kingdom ...................
0.9
1.8
Communist countries .............
1.0
0.2
Offshore banking centers ....
-0.3
-0.7
Japan and Canada ................
0.7
0.1
IMF/World Bank ..................
3.7
1.6
Other' .....................................
7.8
4.5
*OPEC foreign official assets are assumed to remain in the
country where they are initially placed until removed by the
original investor. Some OPEC funds managed by US financial
Institutions, for example, are invested in non-US securities; no
attempt is made to determine whether the non-US security was
purchased from another US holder or from a non-US resident.
The OPEC countries reduced the pace of
their investments in international organizations
last year. Owing to the relatively poor yields
offered by World Bank bonds, OPEC members
put less than $500 million in these issues in
1976, compared with slightly over $1 billion in
1975. The end in early 1976 of the borrowing
phase of the International Monetary Fund's oil
facility resulted in a decline in the flow of
OPEC funds to the IMF.
Currency Denomination
OPEC members placed roughly $22 billion
of their 1976 investments in dollar-denomiria-
ted assets. Their holdings of sterling-denomina-
ted assets fell by $2.8 billion last year because
of a continuing sell off of these assets and an
$800 million decline in the dollar value of their
remaining sterling portfolio. Investment in con-
tinental hard currencies picked up moderately
in 1976, in part because of the increased level
of equity purchases.
Profile of Official Foreign Assets,
31 December 1976
Concentrations
Saudi Arabia, Kuwait, Qatar, and the UAE
accounted for the bulk of the OPEC countries'
$132 billion official assets at yearend 1976.
? Saudi Arabia alone held $49 billion in for-
eign official assets-nearly two-fifths of total
OPEC holdings.
? Kuwait, the UAE, and Qatar accounted for
about another third of OPEC foreign wealth.
Type
At yearend 1976, OPEC countries held
about equal amounts of short-term assets,
OPEC Countries: Currency Denomination of Investment
Billion US$
1975
1976
Total ............................................
27.7
26.9
US dollar ................................
27.4
22.0
Sterling ....................................
-2.2
-2.8
Other .......................................
2.5
7.7
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OPEC Countries: Foreign Official Assets, by Type
31 December 19761
OPEC Countries: Foreign Official Assets, by Location
31 December 19761
Gold/
SDRs/
IMF Bank Government Other
Position Deposits Securities Assets
Total ................. 100 5 70 25
Algeria .......... 100 35 65 Negl.
Ecuador ........ 100 10 90 Negl.
Gabon............ 100 5 95 Negl.
Indonesia ...... 100 Negl. 95 5
Iran ................ 100 5 40 20 35
Iraq ............... 100 10 85 Negl. 5
Kuwait .......... 100 5 35 15 45
Libya ............ 100 10 80 10
Nigeria ......... 100 5 95 Negl.
Saudi Arabia 100 Negl. 45 30 25
Venezuela..... 100 20 60 20 Negl.
' Foreign official assets totaled $132 billion on 31 December 1976.
Data rounded to nearest 5 percent.
mainly bank deposits, and medium- and long-
term assets (table 6).
? Bank deposits accounted for about 40 per-
cent of total assets.
? Nearly 30 percent was held in government
securities, including $13.8 billion in US Gov-
ernment and US agency issues.
? Gold and holdings in the International
Monetary Fund accounted for about 5 per-
cent of OPEC foreign wealth.
? Nearly 25 percent of OPEC holdings were
in other assets, including more than 8 percent
in corporate securities held primarily by
Saudi Arabia and Kuwait.
Location
OPEC wealth was predominantly located
in the major developed countries (table 7).
? London accounted for about one-fourth of
the total, most of which was in Eurocurrency
bank deposits. Iran, Nigeria, Saudi Arabia,
and the Persian Gulf sheikhdoms accounted
for more than 85 percent of OPEC invest
ment located in the United Kingdom.
Continental
Europe, IMF/
United United Japan, and World
Total States Kingdom Canada Bank Other
Total ................ 100 25 25 25 10 15
Algeria......... 100 30 30 35 5 Negl.
Ecuador....... 100 25 10 5 5 55
Gabon .......... 100 Negl. 0 0 5 95
Indonesia..... 100 10 5 40 5 40
Iran .............. 100 15 25 25 10 25
Iraq .............. 100 5 0 25 Negl. 70
Kuwait......... 100 25 30 15 5 25
Libya .......... 100 20 0 60 5 15
Nigeria ........ 100 10 20 50 15 5
Saudi Arabia 100 30 25 25 10 10
Venezuela ... 100 20 25 25 15 15
' Foreign official assets totaled $132 billion on 31 December 1976.
Data rounded to nearest 5 percent.
? About one-fourth of OPEC assets were
held in the United States, more than one-half
consisted of US Government and US agency
securities owned primarily by Saudi Arabia.
? Less than 10 percent was held by the IMF
and World Bank.
? Only about 1 percent was located in Com-
munist countries, primarily held by Iraq.
? The remaining 14 percent was spread
among a number of countries including those
in the Middle East.
Currency Composition
The great bulk of OPEC foreign wealth
was invested in dollar-denominated assets at
yearend 1976 (table 8).
? Dollar-denominated assets accounted for
more than three-quarters of the total. Only
Iraq, Gabon, and Nigeria held less than 50
percent of their foreign wealth in dollars.
? Sterling accounted for less than 5 percent
of OPEC wealth at yearend 1976. Saudi Ara-
bia, Kuwait, and Nigeria held nearly all of the
sterling assets.
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OPEC Countries: Foreign Official Assets, by Currency
31 December 1976 1
Gold/SDRs/
Total IMF Position Dollars Sterling Other
Total ................. 100 5 75 5 15
Algeria .......... 100 35 55 0 10
Ecuador ........ 100 10 85 0 5
Gabon............ 100 5 Negl. 0 95
Indonesia ...... 100 Negl. 90 0 10
Iran ................ 100 5 90 0 5
Iraq ....... :....... 100 10 35 0 55
Kuwait .......... 100 5 75 5 15
Libya ............ 100 10 55 0 35
Nigeria ......... 100 5 25 15 55
Saudi Arabia 100 Negl. 85 5 10
Venezuela..... 100 20 65 Negl. 15
' Foreign official assets totaled $132 billion on 31 December 1976.
Data are rounded to nearest 5 percent.
? About 15 percent of OPEC wealth was
denominated in other currencies, primarily
German marks, yen, French and Swiss francs,
and Canadian dollars.
? Gold and IMF assets accounted for about 5
percent.
Reconciliation of the Change in Assets with the
OPEC Current Account Surplus
OPEC countries' foreign exchange receipts
totaled $44.4 billion during 1976, including the
current account surplus of $39.7 billion and
$4.7 billion in gross foreign borrowing (table
9). The $17.5 billion difference between
OPEC members' receipts and the $26.9 billion
rise in their foreign assets is accounted for by
the following items:
Change in credits to oil companies. Oil
company indebtedness to the OPEC countries
rose by $7.5 billion during 1976 to $20.6 bil-
lion at yearend. This resulted from (a) a rise in
oil liftings following increased world demand
and (b) the continuation of the two- to three-
month lag between shipments and payments for
oil.
Debt repayment. OPEC countries repaid
$2.9 billion of their outstanding debt in 1976.
OPEC Countries: Reconciliations of 1976 Current Account
Surplus with Asset Change
Current surplus plus gross loan receipts .................... 44.4
Current account surplus ................................................ 39.7
Loan receipts ................................................................... 4.7
Change in OPEC assets and errors and omissions 44.4
Change in foreign official assets ............................. 26.9
Other capital account flows ....................................... 17.5
Change in credit to oil companies ........................ 7.5
Debt repayment .......................................................... 2.9
Nationalization compensation ..................................... 0.9
Net private investment in the United States and
United Kingdom ..................................................... 2.5
Adjustments for change in foreign exchange....... 0.2
Prepayments to United States for Imports............ 3.3
Errors and omissions' ................................................ 0.2
' Including net private investment other than in US and UK bank
deposits.
Algeria, Indonesia, and Iran accounted for
nearly 85 percent of payments.
Nationalization compensation. Nigeria
made payments of $350 million, and Vene-
zuelan payments totaled more than $500 mil-
lion in 1976.
Net private investment in the United
States and the United Kingdom. This category
consisted of an increase in private investment in
the United States of $1.6 billion and an increase
in private bank deposits in the United Kingdom
of $900 million.
Adjustments for changes in foreign ex-
change. OPEC lost an estimated $200 million in
the dollar value of those OPEC assets denomina-
ted in currencies other than the dollar.
Prepayment to United States for Imports.
OPEC countries increased military prepayments
by $2.9 billion in 1976. Liabilities to OPEC
countries reported by non-banking concerns in
the United States grew by about $400 million.
Errors and omissions. This category, in-
cluding private investment other than in the US
or in UK bank deposits, accounted for the re-
maining $3.5 billion.
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on 351-7717. 25X1A
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for Mrs. Anne Keatley, Office of the Director
36X 62 ELITE DISSEM (#51-#112)
1 Agency Archives
52 Agency Records Center
Total: 350 copies
ADMINISTRATIVE - INTERNAL USE ONLY
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0M51 TFG,i1) cth~r1a_nrl~_~Th aguui
Norway, Oslo
Portugal, Lisbon
Spain, Madrid'
Sweden, Stockholm
Switzerland, Bern
Geneva
Zurich
Yugoslavia, Belgrade
VIFrance, Paris, US Mission
Australia, Canberra
Melbourne
Philippines, Manila
New Zealand, Wellington
FAR EAST
P,:~~K~, PRC
Burma, Rangoon
Formosa, Taipei
Hong Kong
Indonesia, 'Jakarta
Japan, Tokyo
Korea, Seoul
Laos, Vientiane
Malaysia, Kuala Lumpur
Singapore
Thailand, Bangkok
(2 cys - 1 cy for US Rep to SEAT(
CANADA, OTTAWA
(sec reverse side)
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 Approved For Release 201=22 :" C1A-I DP7S1560457A000700030001-3
Algeria, _Algiers
Botswana, Gaberones
Burundi, Bujumbura
Cameroun, Yaounde
Central African Republic, Bangui
Chad, . Fort Lamy
Zaire, Kinshasa
Dahomey, Cotonou
Ethopia, Addis Ababa .
Gabon, Libreville
Gambia, Bathurst
Ghana, Accra
Guinea, Conakry
Ivory Coast, Abidjan
Kenya, Nairobi
Lesotho, Maseru
Liberia, Monrovia
Libya, Tripoli
Malagasy. Republic, Tananarive
Mali, Bamako
Malawi, Blantyre
Mauritania, Novakchott
Mauritius, Port Louis
Morocco, Rabat
Mozambique, Lourenco Marques
Niger, Niamey
/Ni g e x i a, Lago.9
hodesia, Salisbury
Rawanda, Kigali
Senegal, Dakar
Sierra Leone, Free Town
Somalia, Mogadiscio
South Africa, Pretoria
Sudan, Khartoum
Swaziland, Mbabane
Tanzania, Dar es Salaam
Togo, Lome
Tunisia, Tunis
Uganda, Kampala
Upper Volta, Ouagadougou
Zambia, Lusaka
NEAR EAST AND SOUTH ASIA
Afghanistan, Kabul
Bangladesh, Dacca
Ceylon, Colombo
Cyprus, Nicosia
.Egypt, Cairo
Greece, Athens
India, New Delhi
'Iran, Tehran
ra , Baghdad
Israel, Tel Aviv
Jordan, Amman
? Ku~=~a'r_ K~~wai =
Lebanon, Beirut
Nepal, Katmandu
Pakistan, Islamabad
Qatar, Doha
yr-Saudi Arabia, J dd
out Yemen, Aden
Syria, Damascus
Turkey, Ankara
UAE, Abu Dhabi
Argentina, Buenos Aires
Bahamas, Nassau
Barbados, Bridgetown
Bolivia, La Paz
Brazil, Rio de Janeiro
Chile, Santiago
Colombia, Bogota
Costa Rica, San Jose
Dominican Republic, Santo Domingo
Ecuador, Quito
El Salvador, San Salvador
Guatemala, Guatemala
Guyana, Georgetown
Haiti, Port au Prince
Honduras, Tegucigalpa
Jamaica, Kingston
Mexico, Mexico City
Nicaragua, Managua
Panama, Panama
Paraguay, Asuncion
Peru, Lima
Trinidad, Port of Spain
voo-Uruguay, Montevideo
Venezuela. rac s
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SECRET
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UNCLASSIFIED
FORM N0. 237 Use previous editions
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Remarks :
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attached suggested elite dissem?
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7 25 77
SECRET
IZUSGPO: 1976 - 202-953 (40)
30001-3
STATINTL
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 ed For Release 2001/03/22 CIA-RDP79BOO457AO00700036001-3
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STATINTL
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 Approved For Relea~6'~6'/b 'dR-FR6 9Y300457A000700030001-3
STATINTL
Bulgaria, Sofia
Czechoslovakia, Prague
Germany, Berlin
Hungary, Budapest
Poland, Warsaw
Romania, Bucharest
USSR, Moscow
Austria, Vienna
/ /Belgium, Brussels
MONO
copy o all report
a D Moore, TT&-Mi ssion to NATQ)
(1 copy for US Mission to tre
EnroDean Communiticsl_
Denmark, Copenhagen
'VO'England, London_
Finland, Helsinki
'France P is
nano R-nnn
Munich
Iceland, Reykjavik
Ireland, Dublin
/Italy Ro e_
Luxembourg, Luxembourg
Malta, Velletta
~T~Tafliprlanth TheH~u~`
Norway, Oslo
Portugal, Lisbon
Spain, Madrid
Sweden, Stockholm
Switzerland, Bern
Geneva
Zurich
Yugoslavia, Belgrade
F
rance, Paris, US Mission to OECD
I
Australia, Canberra
Melbourne
Philippines, Manila
New Zealand, Wellington
FAR EAST
Pakiw~, PRC
Burma, Rangoon
Formosa, Taipei
Hong Kong
Indonesia, Jakarta
Japan, Tokyo
Korea, Seoul
Laos, Vientiane
Malaysia, Kuala Lumpur
Singapore
Thailand, Bangkok
(2 cys - 1 cy for US Rep to SEATO)
'CANADA, OTTAWA
cc-~ ~.L C-C 7 Lfc/
/ J vY Y ~j / 'J
(av -Zlc--'~'
(see reverse side)
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 Approved For Release 2001/03/22 : CIA-RDP79BOO457A000100030001 3
AFRICA
Algeria, -Algiers
.Botswana, Gaberones
Burundi, Bujumbura
Cameroun, Yaounde
Central African Republic, Bangui
Chad, . Fort Lamy
Zaire, Kinshasa
Dahomey, Cotonou
Ethopia, Addis Ababa
Gabon, Libreville
Gambia, Bathurst
Ghana, Accra
Guinea, Conakry
Ivory Coast, Abidjan
Kenya, Nairobi
Lesotho, Maseru
Liberia, Monrovia
Libya, Tripoli
Malagasy Republic, Tananarive
Mali, Bamako
Malawi, Blantyre
Mauritania, Novakchott
Mauritius, Port Louis
Morocco, Rabat
Mozambique, Lourenco Marques
Niger, Niamey
/Ni e ri a L imago
hodesia, Salisbury
Rawanda, Kigali
Senegal, Dakar
Sierra Leone, Free Town
Somalia, Mogadiscio
South Africa, Pretoria
Sudan, Khartoum
Swaziland, Mbabane
Tanzania, Dar es Salaam
Togo, Lome
Tunisia, Tunis
Uganda, Kampala
Upper Volta, Ouagadougou
Zambia, Lusaka
-NEAR EAST AND SOUTH ASIA
Afghanistan, Kabul
Bangladesh, Dacca
Ceylon, Colombo
Cyprus, Nicosia
.Egypt, Cairo
Greece, Athens
India, New Delhi
1W"I ranTehran
rag, Baghdad
Israel, Teel Aviv
Jordan, Amman
i
Lebanon, Beirut
Nepal, Katmandu
Pakistan, Islamabad
Qatar, Doha
YSaudi Arabia, Jidda
out emen, Aden
Syria, Damascus
Turkey, Ankara
UAE, Abu Dhabi
Argentina, Buenos Aires
Bahamas, Nassau
Barbados, Bridgetown
Bolivia, La Paz
Brazil, Rio de Janeiro
Chile, Santiago
Colombia, Bogota
Costa Rica, San Jose
Dominican Republic, Santo Domingo
Ecuador, Quito
El Salvador, San Salvador
Guatemala, Guatemala
Guyana, Georgetown
Haiti, Port au Prince
Honduras, Tegucigalpa
Jamaica, Kingston
Mexico, Mexico City
Nicaragua, Managua
Panama, Panama
Paraguay, Asuncion
Peru, Lima
Trinidad, Port of Spain
Ve ruguay, Montevideo
ye.,czuela. Carca~ _
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 Approved For Release 2001/03/22 : CIA-RDP79BOO457A00070
STATINTL
OPEC COUNTRIES
SIZE AND DISTRIBUTION OF FOREIGN ASSETS,
31 DECEMBER 1976
STATINTL
S/TM
23 JUNE 1977
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 Approved For Release 2001/03/22 : CIA-RDP79B00457A000700030001-3
MEMORANDUM FOR:
The Honorable Harold H. Saunders
Director
Bureau of Intelligence and Research
Department of State
Attached is your personal copy of
our memorandum, "OPEC Countries: Size
and Distribution of Official Foreign
Assets on 31 December 1976," r~ 77-
10464, S/NOT RELEASABLE TO FOREIGN
^IAT I ONALS .
STATINTL
MAUR I CE C. ERNST
Director of Economic Research
Central Intelligence Agency
(DATE)
9 n niir. 1977
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 pproved For Release 2001/03/22 :CIA-R790045-~4e000~700030001-3
tiarry
Mr. S. David Freeman
Office of the Assistant for
Energy Matters
Executive Office Building
Mr. William Quandt
Senior Staff Member
National Security Council
Executive Office Building
573 Mr. Robert A. Pastor
Senior Staff Member
National Security Council
Executive Office Building
Office of the Assistant for
Energy Matters
Executive Office 1$X 1i Building
4 Mr. Robert Hormats
Senior Staff Member
National Security Council
Executive Office Building
S'-Hr. Peter G. Gould
Special Assistant to the Chairman
Council of Economic Advisers
Executive Office Building
Mr. Rober Litan
Senior Staff Economist
Council of Economic Advisers
Executive Office Building
Mr. Vincent Clephas
Executive Assistant to the
Special Representative for Trade
Negotiations
Executive Office Building
Mr. Edward G. Sanders
Deputy Associate Director
International Affairs Division
Office of Management and Budget
New Executive Office Building
Mr. John D. Christie
1 Assistant Administrator
for Policy Analysis
Federal Energy Administration
? Mr. Clement B. Malin
Assistant Administrator
for International Energy Affairs
Federal Energy Administration
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 Approved For Release 2001/03/22 : CIA-RDP79B00457A000700030001-3
fs f~
62-The Honorable Anthony Lake Mr. Stanley W. Black
Director Special Assistant to the
Policy Planning Staff Under Secretary for
Department of State Economic Affairs
6r `l Department of State
X3Mr. David B. Bolen
Deputy Assistant Secretary
Bureau of African Affairs
Department of State
'7
&3Mr. Philip R. Trimble
Assistant Legal Adviser
Department of State
4gMr. David H. Small
//Assistant Legal Adviser
Department of State
Mr. Thomas W. M. Smith
Director, Office of West African
Affairs
Bureau of African Affairs
Department of State
Mr. Edward C. Ingraham
Country Director, Indonesia, Malaysia,
Singapore
Bureau of East Asian and Pacific Affairs
Department of State
Mr. Richard D. Vine
Deputy Assistant Secretary
for Canadian, Central European, and
Northern European Affairs
Bureau of European Affairs
Department of State
The Honorable Alfred L. Atherton, Jr.
Ass istant Secretary
Bureau of Near Eastern and South Asian
Affairs
Department of State
~D Mr. Arthur R. Day
Deputy Assistant Secretary
Bureau of Near Eastern and South Asian
Affairs
91 Department of State
7 i-Mr. Charles Naas
Country Director, Iran
Bureau of Near Eastern and South Asian
Affairs
Department of State
Mr. Morris Draper
Country Director, Lebanon, Jordan,
Syrian Arab Republic, Iraq
Bureau of Near Eastern and South Asian
Affairs
Department of State
Mr. Sidney Sober
Deputy Assistant Secretary
Bureau of Near Eastern
and South Asian Affairs
Department of State
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 Approved For Release 2001/03/22 : CIA-RDP79B00457A000700030001-3
.2 Mr. Joseph W. Twinam
Director, Arabian Peninsula
Affairs
Bureau of Near Eastern and South Asian
Affairs
Department of State
'2
Mr. Russell O. Prickett
Senior Energy and Economic Adviser
Bureau of Near Eastern and South Asian
Affairs
Department of State
~j The Honorable Julius L. Katz
Assistant Secretary
Bureau of Economic and Business Affairs
Department of State
Mr. Charles Meissner
Deputy Assistant Secretary
International Finance and Development
Bureau of Economic and Business Affairs
Department of State
7 Mr. Stephen Bosworth
Deputy Assistant Secretary
International Resources and Food Policy
Bureau of Economic and Business Affairs
Department of State
Mr. Joseph A. B. Winder
Director
Office of Development Finance
Bureau of Economic and Business Affairs
Department of State
The Honorable Harold H. Saunders
Director
Bureau of Intelligence and Research
Department of State
Mr..Philip H. Stoddard
Director
Office of Research and Analysis for
Near East and South Asia
Bureau of Intelligence and Research
Department of State
-vMr. Michael E. Ely
Director
Office of Economic Research and Analysis
Bureau of Intelligence and Research
Department of State
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 Approved For Release 2001/03/22 : CIA-RDP79B00457A000700030001-3
Mr. Wade H. B. Matthews
Country Director, Central America
Bureau of Inter-American Affairs
Department of State
Mr. Leslie A. Janka
Deputy Assistant Secretary
Near Eastern, African, and
South Asian Affairs
International Security Affairs
Department of Defense
STATINTL
Mr. J. Robinson West
Deputy Assistant Secretary
Economic Affairs
International Security Affairs
Department of Defense
Major General Lincoln D. Faurer
Deputy Director for Intelligence
Defense Intelligence Agency
Department of Defense
DeeMnse Intelligence Officer
Middle East and South Asia
Defense Intelligence Agency
Department of Defense
Brig. General J. A. Williams
Deputy Director for Estimates
Defense Intelligence Agency
Department of Defense
Ia
The Honorable Anthony M. Solomon
Under Secretary
for Monetary Affairs
Department of the Treasury
The Honorable C. Fred Bergsten
Assistant Secretary
for International Affairs
Department of the Treasury
Mr. F. Lisle Widman
Deputy Assistant Secretary for
International Monetary and
Investment Affairs
Department of the Treasury
q -Mr. Roger E. Shields
Deputy Assistant Secretary
for Research and Planning
Department of the Treasury
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 Approved For Release 2001/03/22 : CIA-RDP79B00457A000700030001-3
The Honorable Daniel H. Brill
Assistant Secretary
for Economic Policy
Department of the Treasury
9rMr. J. Foster Collins
Special Assistant to the Secretary
(National Security)
Department of the Treasury
Mr. Donald Syvrud
Director, Office of International
Monetary Affairs
Department of the Treasury
97
Mr. James A. Griffin
Director
International Investment
Department of the Treasury
Mrs. Helen B. Junz
Deputy Assistant Secretary
for Energy, Commodities and Policy
Planning
Department of the Treasury
'1
/10
Mr. Lewis W. Bowden
Deputy to the.Assistant Secretary
for Saudi Arabian Affairs
Department of the Treasury
Mr. John E. Reynolds
Director
Division of International Finance
Board of Governors
Federal Reserve System
, Mr. J. Charles Partee
Director
Division of Research and Statistics
Board of Governors
Federal Reserve System
Co- Mr. Sam Y. Cross
US Executive Director
International Monetary Fund
(a)
Mr. S. Stanley Katz
Deputy Assistant Secretary
Bureau of International Economic
Policy and Research
Department of Commerce
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 Approved For Release 2001/03/22 : CIA-RDP79B00457A000700030001-3
The Honorable Jerry J. Jasinowski
(0 Assistant Secretary
for Policy
Department of Commerce
COS-Mr. Peter B. Hale
Director
Commerce Action Group for the Near East
Department of Commerce
(06 10g
(07
110
Mr. David N. Laux
Room 3520, Main Commerce
Department of Commerce
Ms. Courtenay M. Slater
Chief Economist
Department of Commerce
Mr. Stanley Marcus
Deputy Assistant Secretary
for Regulatory Affairs
Department of Commerce
Mr. W. Dean Moran
Deputy Assistant Secretary
for Trade Promotion
Department of Commerce
111
Energy Research and Development
Administration
Mr. Nelson F. Sievering,
Assistant Administrator
International Affairs
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