was announced in May 1947. Under it, the United States Stabilization Fund undertakes for a period of 4 years commencing July 1, 1947, to purchase Mexican pesos to an amount equivalent to $50,000,000 for the purpose of stabilizing the United States dollarMexican peso rate of exchange. The agreement fully provided for coordination of this agreement with the articles of agreement of the International Monetary Fund in which both Mexico and the United States are active members.

The stabilization agreement with Cuba was first announced in July 1942. Under it the Government of the United States undertakes to sell gold to the Government of the Republic of Cuba from time to time with payment to be made within 120 days after delivery of the gold. The unpaid-for amount of gold shall not at any time. exceed $5,000,000. This agreement has been extended until June 30, 1949. Cuba has repeatedly purchased gold under this arrangement and made payment within the allowed 120-day period.

B. OTHER FINANCIAL ASSISTANCE TO FOREIGN COUNTRIES This section contains data covering grants and other forms of financial assistance other than loans and credits to foreign countries by the United States Government during World War II and through June 30, 1947. Table 15 is a summary of authorizations and utilizations through June 30, 1947. Amounts are shown separately for (1) lend-lease; (2) civilian supplies, relief, and rehabilitation; and (3) financial aid. Some of these items were outright grants, while others were subject to negotiations as to terms of repayment.

Unutilized balances as of July 1, 1947, as shown in table 2, and subject to the qualifications noted therein, amounted to $2,236,000,000.

TABLE 15.-Financial assistance (other than loans and credits) by country, by agency, by type of transaction: July 1, 1940, through June 30, 1947

TABLE 15.-Financial assistance (other than loans and credits)1 by country, by agency, by type of transaction: July 1, 1940, through June 30, 1947-Continued

TABLE 15.-Financial assistance (other than loans and credits)1 by country, by agency, by type of transaction: July 1, 1940, through June 30, 1947-Continued

TABLE 15.-Financial assistance (other than loans and credits)1 by country, by agency, by type of transaction: July 1, 1940, through June 30, 1947-Continued

TABLE 15.-Financial assistance (other than loans and credits)1 by country, by agency, by type of transaction: July 1, 1940, through June 30, 1947-Continued

1 Some of these items were outright grants. while others were subject to negotiations as to terms of repayment. The amounts of credits extended or cash received as a result of negotiations has been deducted from these amounts.

2 See explanatory note which follows.

Source: Clearing Office for Foreign Transactions, Department of Commerce.

EXPLANATORY NOTE-OTHER FINANCIAL ASSISTANCE

The aid to Greece and Turkey, and the post-UNRRA programs were initiated before June 30, 1947. However, reporting procedures were not established and these programs are not included in the data in this appendix. Some small activity had taken place with the funds advanced to the State Department by the Reconstruction Finance Corporation under Public Laws 75 and 84, Eightieth Congress, respectively; appropriations for the programs were not made until after June 30, 1947.

Lend-lease

Lend-lease-aid figures presented in table 15 reflect the estimated value of such aid furnished on a grant basis (often referred to as straight lend-lease). This