Organization of American States

Abstract

The press announced that the Inter-American Economic and Social Council met in Punta del Este, Uruguay, under the auspices of the Organization of American States (OAS) from August 5 to 17, 1961. A draft act embodying the principles of the “Alliance for Progress” plan for the economic development of Latin America envisaged by the United States was put before the meeting by the delegates of Argentina, Brazil, Chile, Mexico, and the United States, according to press reports. Mr. Douglas Dillon, United States Secretary of the Treasury, promised that his government would provide active assistance in the form of development loans running up to 50 years, but Mr. Dillon made it clear that the development scheme depended on the local programs for social and economic advancement. It was noted that aside from the United States offers, some European and odier countries had indicated that they would take part in development programs in the area.