LATIN AMERICAN FINANCE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP79R00890A001100060023-4
• Release Decision: RIFPUB
• Original Classification: K
• Document Page Count: 3
• Document Creation Date: December 9, 2016
• Document Release Date: March 5, 1999
• Sequence Number: 23
• Publication Date: June 17, 1959
• Content Type: BRIEF

DOCUMENT NO.
Approved For Release 9001/~~/ ~ IA-F R79Ra3.0 SGA0a1410 060023-4
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Approved For Release 2001/ ;!'79R00890A001100060023-4
Kubitschek government dickering with >SO,. Gulf, and Shell
for 18-month credit on oil imports which cost about $250
million last year.
1. Government also arranging to sell oil from new strike this
month to US companies. Should bring in about $70 million
annually.
IV. Kubitschek evidently does not wish to break completely with
and he has tentatively agreed to a proposal that debt repayments
be rescheduled in place of new loan.
A. However, due to what our embassy in Rio de Janeiro calls
hly charged political atmosphere," Kubitschek refuses t
let this be known fearing public may charge him with bowing to
US pressure.
Chief Brazilian negotiator says some face-saving formula must
be worked out..r..-a iovernment has stood cuff extreme
nationalists so far, but ttcrisis" might push Kubitschek
into "Xaasirism."
Brazil considering Soviet offer to buy $100 million worth of
coffee under 3-year barter deal.
1. Brazilians are tempted but suspicious. Amount--650,000
bags annually--is almost 10 times present Soviet consump-
tion. Brazil wants guarantee against re-sale.
V. Other Latin Americans--especially opposition elements in Argentina
and Chile--have hailed Brazil's break with IMF. President of Chile
and Peruvian prime ministers have privately charged 1*! with
"rigidity."
Approved For Release 20 /14": CIA-RDP79R00890A001100060023-4
 Approved For Release 2001/08/14: CIA-RQ.P79R00890A001100060023-4
D. ftabings mad Viol
Approved For Release 2001/08/14: CIA-RDP79R0089OA001100060023-4