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183390183
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Memorandum of Conversation with Secretary of State Dean Acheson, Ambassador of Bolivia Ricardo Martinez Vargas, and Mr. King
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183390183
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document
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Memorandum of Conversation with Secretary of State Dean Acheson, Ambassador of Bolivia Ricardo Martinez Vargas, and Mr. King
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Dean Acheson Papers
Secretary of State Files
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183390183
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15
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1949-03-15
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3
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1949
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UNCLASSIFIED
s/s
DEPARTMENT OF STATE
79
Memorandum of Conversation
DATE: March 15, 1949
SUBJECT:
Service on Bolivian Defaulted Dollar Bonds
PARTICIPANTS:
Sr. Don Ricardo Martinez Vargas, Ambassador of Bolivia
The Secretary
Mr. King, NWC
OF
STATE
ON
COPIES TO:
S/S
ExImBank
common
ARA
Embassy La Paz
MAR 1719
OFD
a ARGHIVES ONATIONAL SERVICE AND
RECORDS
ED
FN
DEHUTY DIRECTOR
1-1493
The Ambassador of Bolivia, under instructions from his Govern-
ment, called on March 15 to hand ne a note in which the Government
of Bolivia reiterated the determination of the Executive Branch to
carry out an agreement reached with the Foreign Bondholders Pro-
tective Council in June, 1948, providing for resumption of service
on Bolivia's defaulted dollar bonds.
The Ambassador explained that his Government wished to cooper-
ate with the United States in all respects and was anxious to re-
establish its credit position, not only in connection with current
negotiations for specific Export-Import Bank credits, but as a
matter of principle as well. The Agreement vith the Foreign Bond-
holders Protective Council was made with this in mind, but, unfor-
tunately, the Bolivian Congress had insufficient time in which to
give its approval and recessed without taking the necessary action.
wished to record officially and formally its determination to re-
The Ambassador stated that his Government, aware of its obligations,
sume service on the defaulted debt during 1949. He said that his
Government considered this step to be of the utmost importance.
I replied that I too thought this action by the Bolivian
Government to be significant and important and I expressed my
appreciation of the renewed assurances received through him from
the Government of Bolivia.
The Ambassador said he wished to issue a press release report-
ing delivery of this note concerning his country's defaulted debt.
I gave my approval and said that in my next press conference, if
asked about the message, I would state that this Government consid-
ered it a significant and important move by the Government of Bolivia,
ARA: NWC: SMKing:rms
UNCLASSIFIED