PFIAB DISCUSSIONS ON INTERNATIONAL FINANCE

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP85M00363R000601440037-1
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 1
• Document Creation Date: January 4, 2017
• Document Release Date: April 7, 2008
• Sequence Number: 37
• Publication Date: December 2, 1982
• Content Type: MEMO

rnNF T ncAM-r 1 A
Approved For Release 2008/04/15: CIA-RDP85M00363R000601440037-1
THE DIRECTOR OF CENTRAL INTELLIGENCE
WASHIW-TON, D.C. 20305
National Intelligent. Council
MEMORANDUM FOR THE RECORD
SUBJECT: PFIAB Discussions on International Finance
NIC #9762-82
2 December 1982
1. On 29 November, i met with Leo Cherne, Alan Greenspan; Warren
Meeker, and two PFIAB staffers for about an hour and a half to discuss
international finance issues. Mr.
t his
reaction to the draft NIC memorandum honntheeImplications ofaLDCaDebt, was sent to him for comments by the DCI, and his strong belief that follow-
up action should be taken to provide warning of possible financial crises.
2. I responded that CIA was making a major effort on financial
warning, involving collectors, the DDI, and the NIC, and that international
finance had become one,of the core economic issues on which CIA would be
focused, much as er.irgy had become in 1973. In performing the warning
function, I distinguished between continuous monitoring, including use of
kby warning indicators, which was being done mainly by OGI, and the proce-':s
df identifying and analyzing less t kely future developments that could
have serious consequences. NIOs are in a good position to perform the
latter function, and have in fact been trying to do so. I indicated, and
Cherne, Greenspan, and Meeker agreed, that this should be done in economic
area on a more regular and systematic basis.
3. n. ere was also considerable discussion of the use of outside
contacts and contractors. Mr. Cherne offered his assistance in identifyin
individuals who could be especially helpful in the warning process. g
4. No problems were raised during the meeting; there appeared to be a
general agreement on what needed to be done, and support of the approach
the DDI and the NIC were taking.
r- j , I r
. -2~ i. .
Maurice C. Ernst
All portions Confidential CONFIDENTIAL
Approved For Release 2008/04/15: CIA-RDP85M00363R000601440037-1