NARA

File documenting the economic situation in France and Europe and the use of counterpart for financial stabilisation, promoting economic development and investment, includes, paper by International Monetary Fund (IMF) on French budgetary developments in 1947. Paper highlighting the importance of counterpart funds in combating inflation, and procedures for the release and utilisation of such funds. - Report on first Plan of Modernisation and Equipment, 1946-1947. - ECA memo regarding belief that French counterpart could be made available for investment expenditures. - Memo from ECA regarding investment projects to be financed by the release of counterpart for coal production, electricity production, railroads, loans to private industry, agriculture, overseas territories and reconstruction. - Memos from B. Bingham, ECA Chief of Special Mission for France to Paris Embassy regarding the breach of anti-inflationary undertakings given by French Government in connection with counterpart negotiations. - Letter to Petsch, French Minister of Finance from Bingham regarding releases of counterpart for 1950 and discussions regarding utilisation of funds. Explanatory note on 1950 French Finance Bill for budgetary equilibrium. - ECA circular concerning country programming of counterpart funds. - ECA policy statement on France at midway point of ERP. - Details of release of final counterpart funds for investment expenditures and details of particular projects which were to be financed within the reconstruction and investment budgets. - Reports by David Bruce, American Ambassador to France regarding Foreign Aid Bill in relation to France and the need for aid due to problems created by France's military commitments which risked causing inflation. - Letter from Bingham to Paul G. Hoffman, Administration of ECA, regarding the earmarking of further counterpart funds due to additional expenditures in critical sectors.

English

Textual

The originals are held in various Archives in Europe and in the USA

CEM/JMAS

NO PHOTOCOPYING