Word: interamerican
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Dates: during 1950-1959
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...exports to Mexico. But how can Mexico keep up its imports if the U.S. cuts our ability to pay for them, if we get less for our zinc and lead?" Concluded ex-Diplomat Henry Holland, who was the State Department's Inter-American Affairs chief until last year: "InterAmerican trade is in greater danger than at any time in years...
...individual, his fundamental rights and the spiritual values of mankind are seriously threatened by totalitarian forces alien to the tradition of our peoples and their institutions, America holds steadfastly to its historic mission-to be a bulwark of human liberty and national independence." The main proposal for immediate action: "interAmerican cooperative efforts to seek the solution of economic problems and to raise the living standards of the continent...
...sponsored company to provide capital for Latin American companies by buying their securities. Last week Pennroad Corp., TIME Inc. (which publishes editions of some of its magazines in Latin America) and South American Gold & Platinum Co. announced that they are forming just such an investment company called the Interamerican Capital Corp. It will be the first big-risk capital corporation set up "for the primary purpose of making diversified, direct commitments" in Latin American business...
...company seeks ultimately to raise $10 million. Of the nominal organizing capital, Pennroad will pay in 40%, TIME 40%, and South American Gold, which will manage the company, 20%. Interamerican Capital will buy stocks, convertible bonds and other securities of promising South American and Caribbean area enterprises, new or old. Despite political risks, the opportunities look promising. Latin America's industrial growth rate in the past 15 years has almost paralleled that of the U.S.; some countries, e.g., Brazil, Colombia, Venezuela, have even topped the U.S. rate...
...firmest U.S. no went to the idea the Latinos cherished most: an interAmerican bank, with capital supplied by all 21 governments, for massive development loans. When the U.S. refused, arguing that present lending outlets were sufficient, the Latin Americans discussed going ahead alone-only to find that three important countries (prosperous Venezuela, Cuba and Colombia) were unwilling to commit their own reserves to such a bank. In the end the delegates agreed on "further study...