ARGENTINA: Calculated Risk

Argentina's energetic little Finance Minister, Ramon Cereijo, bounced aboard his FAMA plane at New York's Idlewild Airport one morning last week, and flew homeward with gladsome news. Argentina had been promised $200 million in U.S. Government and private bank credits. A formal announcement was expected within a few days.

Some $125 million of the credits already had been approved by President Truman's National Advisory Council. All of that sum will go to liquidate Argentina's outstanding commercial debts and help re-establish her good credit abroad. In addition, friendly, persuasive Cereijo had got a promise of $75 million from the National City...

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