51. Telegram From the Embassy in Austria to the Department of State0
497. Monetary Conference from Dillon. Pass White House, Treasury. Have reached understanding with other major industrial countries that group of us would commit ourselves to lend additional resources to IMF to deal with balance of payments pressures which impair or might impair world monetary system. This follows from our initiatives in series bilateral discussions culminating in group meeting yesterday with Ministers and Central Bank Governors of Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden and UK and Managing Director Monetary Fund.
General positions individual countries will be indicated in their Wednesday1 speeches here. Fact that above understanding reached will not be announced until Friday morning when Managing Director will make summing up speech.
Over-all amount expected to be five to six billion. Individual commitments, operating procedures, and other details to be negotiated this fall with view to legislative action early in 1962 in [garble]countries where needed.