891.51/577: Telegram
The Secretary of State to the Minister in Iran (Dreyfus)
Washington, July 10,
1943—11 p.m.
332. Your 661, June 25, 6 p.m. Department does not feel that it can urge loan by Export-Import Bank on basis of incomplete information which has been submitted so far. Please inform Millspaugh that the Department must have the following information in order to pass intelligently upon the request for a loan:
- 1.
- A detailed breakdown of revenues it is expected will be available to the Iranian Government for the fiscal year 1943–44 and the amount which can be borrowed from the local bank.
- 2.
- A detailed breakdown of expenditures which will be made by the Iranian Government. Millspaugh states that the deficit will be at least one and one-half billion rials. The Department wishes to know how much of this deficit represents repayment of floating or short term debt and how much results from current excess of expenditures over receipts. If a large portion of the expenditures resulting in the deficit represent repayment of floating or short term debt, the Department feels that there should be a possibility of funding a large portion of this debt internally.
- 3.
- A statement of the public debt showing amount external internal floating and short term and designating in each case currencies in which payable. In case of short term debt indicate amount maturing within each of next 2 years.
- 4.
- A specific statement of the period for which Millspaugh desires a loan, projected amortization and interest payments, exact security and such additional data as Millspaugh believes pertinent.
Hull