Office of the Historian

131. Minutes of a Senior Interdepartmental Group–International Economic Policy Meeting1

Washington, March 10, 1983, 10:30 a.m.

ATTENDEES

  • Treasury

    • Secretary Regan
    • Marc Leland

  • Office of Vice President

    • Admiral Daniel J. Murphy
    • G. Philip Hughes

  • State

    • Kenneth Dam
    • William Schneider

  • Defense

    • Secretary Weinberger
    • Fred C. Ikle

  • Agriculture

    • Richard Lyng
    • Alan Tracy

  • Commerce

    • Secretary Baldrige
    • Lionel H. Olmer

  • CIA

    • Henry Rowen
    • Maurice Ernst

  • Justice

    • Edward Schmults
    • Michael Shepherd

  • OMB

    • Alton Keel

  • USTR

    • Ambassador David Macdonald
    • John E. Ray

  • CEA

    • Martin Feldstein

  • OPD

    • Edwin L. Harper

  • Ex-Im Bank

    • William Draper
    • Charles E. Lord

  • NSC

    • Henry Nau
    • Roger Robinson
    • William Martin

International Debt

The Chairman opened the meeting by reviewing a proposal for an NSSD on international debt.2 The study would include an analysis of the international debt situation and its implications on international trade and U.S. domestic economy. Political and security issues would also be addressed. The SIG–IEP approved the broad guidelines for study and agreed that all members of the SIG–IEP should be included in the working group. The study should be completed by April 15 for [Page 339] SIG–IEP consideration, after which the report will be forwarded to the NSC and the President.3

The Chairman noted that there have recently been many suggestions of possible solutions for the international debt problem in the press as well as in interagency papers. He stressed that in commenting on these proposals, it should be stated that our strategy for dealing with the problem is the five-point strategy outlined in the debt strategy paper distributed to the SIG, and that while we are analyzing all suggestions to make a comprehensive list of pros and cons, we do not envisage new proposals beyond the five-point strategy of the debt strategy paper.4

[Omitted here is discussion of the Exim Bank Charter and Export Administration Act.]

  1. Source: Reagan Library, Roger Robinson Files, Subject File, SIG–IEP Meetings 03/09/1983–04/06/1983; NLR–487–6–40–4–7. Secret. The meeting took place in the Roosevelt Room at the White House. No drafting information appears on the minutes.↩
  2. See Document 132.↩
  3. A copy of the final SIG–IEP report, “Approach to the International Debt Problem: A Policy Overview,” dated April 25, is in the National Security Council, NSC Institutional Files, Box SR–073, NSSD 3–83.↩
  4. A Treasury Department copy of a description of the five-point debt strategy with talking points, dated March 8, is in the Reagan Library, Roger Robinson Files, Subject File, Williamsburg 10/27/1982–03/31/1983. The elements of the strategy were approved by Reagan for use at the Williamsburg Summit. See Document 130.↩