The Hemisphere: Reacting to Crisis

The U.S. was at last paying attention to some of the critics of its Latin America policy. Last week it agreed for the first time to grant Latin American nations long-term loans, repayable in soft currencies, for such social—and visible—ends as slum clearance, schools, hospitals, and land reform. The Administration will ask Congress when it reconvenes in August for $500 million or more for loans to better the lot of the hemisphere's peoples. The policy reverses the Eisenhower Administration's previous insistence on hard-currency loans, to be spent mostly on U.S.-made equipment for economic enterprises.

Along with the switch of policy, the White...

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