Statement on Foreign Military Sales Credits for Israel
(December 31, 1979)
The President met with Israeli Minister of Defense
Ezer Weizman on December 28, 1979. Subsequently, the President has decided
to request the Congress to increase by $200 million the foreign military
sales (FMS) credits previously authorized for Israel in the special
legislation in support of the peace treaty.
The decision was based on consideration of such factors
as inflation and Israel's balance of payments deficit and takes into
account the fact that the Israeli Government has instituted since November
extremely tough austerity measures designed to overcome these economic
problems.
The decision, taken at a time when the President is
determined to hold down Federal expenditures, reflects our sympathy
and concern for Israel's security and well-being.
Presently, U.S. FMS credits for Israel total $2.2 billion,
in addition to a grant of $800 million, to be disbursed over a period
of approximately 3 years.
Sources: Public Papers of the President |