International records / Foreign Relations of the United States

8. Memorandum From Secretary of the Treasury Dillon to President Kennedy

e balance-of-payments effects of the local cost financing which AID undertakes. Among these have been the placing of the dollar funds in segregated accounts, to be used only to pay for United States goods and services, and the agreement reached with Nigeria that it would find other means of increasing imports from the United States by an amount at least as great as the United States financing of local costs. While the Nigerian example is interesting, it may not prove possible to implement it in the desired fashion. Segregated accounts may simply result in AID financing of United States exports…

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Source	Foreign Relations of the United States
Collection	International records
Kind	Document
Publisher	US Department of State, Office of the Historian
Date	1962-03-12
Type	diplomatic document (FRUS)
Details	Foreign Relations of the United States, 1961–1963, Volume IX, Foreign Economic Policy
Found at	https://history.state.gov/historicaldocuments/frus1961-63v09/d8
Archived copy	Look it up in the Wayback Machine
Record ID	`frus:frus1961-63v09/d8`

Cite this record

8. Memorandum From Secretary of the Treasury Dillon to President Kennedy. Foreign Relations of the United States, 1962. Vero Archive, record frus:frus1961-63v09/d8.