Declassified per Executive Order 13526, Section 3.3
NND Project Number: NND 63316. By: NWD Date: 2011
CONFIDENTIAL
Problem of more realistic realization of piasters from US commercial aid was outlined in detail. President and senior members GVN who were present now have full picture of this key element of economic equation. President allowed Thuan to state current GVN position. For their part in 18 month crash program, GVN will institute tax reforms, float victory bond issue, take measures to insure realization of 60 piasters per dollar US Commercial aid, and borrow from Central Bank up to legal limit. These measures will provide about half estimated 6.5 billion piasters needed to finance crash program of action recommended in Staley-Thuc report. They hope that in addition to increased MAP of 42 million US for its part will provide commercial imports of 169 million in FY62 and 190 million in FY63, exclusive of PL 480. Will report further in Subsequent message.
| cc: | Secretary McNamara |
| Admiral Heinz/Colonel Kent, ISA | |
| Colonel Levy, JCS |
CONFIDENTIAL
