TEL AVIV (Sep. 20)
Finance Minister Pinhas Sapir left today for a visit to the United States, where he will attempt to persuade American authorities to allow Israel to buy U.S. surplus foods, shipped here, with Israeli currency. Until now, Israel has been buying U.S. surplus foods with American dollars, paying out for this purpose about $8,000,000 a year. Expenditure of the dollars for this purpose, said Mr. Sapir, “has now become a heavy burden on Israel’s foreign currency balance.”
During his trip, Mr. Sapir is to visit eight major American Jewish centers, to confer with leaders of United Jewish Appeal drives. He will also explore the possibility of convening North American and South American industrialists and investors next year, in an effort to interest them in investing in development projects in development areas in Israel. The conference, he said, would be held in Israel.