§2395a. International agreements concerning debt relief; transmittal to Congressional committees
(1) Repealed.
(2) The Secretary of State shall transmit to such committees a copy of the text of any agreement with any foreign government which would result in any such debt relief no less than thirty days prior to its entry into force, together with a detailed justification of the interest of the United States in the proposed debt relief. The requirements of this paragraph shall not apply with respect to an agreement if a statutory requirement exists that the amount of the debt relief provided by the agreement may not exceed the amount approved for such purposes in advance in an appropriation Act.
(
References in Text
"Such committees" and "such debt relief", referred to in par. (2), mean the Committee on Foreign Relations of the Senate, the Committee on Foreign Affairs of the House of Representatives, and the Committee on Appropriations of the each House of Congress named as the ongoing recipients of any information respecting debt relief negotiations with foreign governments regarding any debts owing to the United States in par. (1) provisions prior to repeal thereof by section 734(a)(1) of
Codification
Section enacted as part of the International Development and Food Assistance Act of 1978, and not as part of the Foreign Assistance Act of 1961 which comprises this chapter.
Amendments
1981-Par. (1).
Change of Name
Committee on International Relations of House of Representatives changed to Committee on Foreign Affairs, on Feb. 5, 1979, by House Resolution No. 89, 96th Congress.
Effective Date
Section effective Oct. 1, 1978, see section 605 of
Actions To Provide Bilateral Debt Relief
"(a)
"(b)
"(1) Sections 221 and 222 of the Foreign Assistance Act [of 1961] [22 U.S.C. 2181, 2182].
"(2) The Arms Export Control Act (22 U.S.C. 2751 et seq.).
"(3) Section 5(f) of the Commodity Credit Corporation Charter Act [15 U.S.C. 714c(f)], section 201 of the Agricultural Trade Act of 1978 (7 U.S.C. 5621), or section 202 of such Act (7 U.S.C. 5622), or predecessor provisions under the Food for Peace Act of 1966.
"(4) Title I of the Agricultural Trade Development and Assistance Act of 1954 (7 U.S.C. 1701 et seq.).
"(c)
"(d)
"(1) the country, as of December 31, 2000, is eligible to borrow from the International Development Association;
"(2) the country, as of December 31, 2000, is not eligible to borrow from the International Bank for Reconstruction and Development; and
"(3)(A) the country has outstanding public and publicly guaranteed debt, the net present value of which on December 31, 1996, was at least 150 percent of the average annual value of the exports of the country for the period 1994 through 1996; or
"(B)(i) the country has outstanding public and publicly guaranteed debt, the net present value of which, as of the date the President determines that the country is eligible for debt relief under this section, is at least 150 percent of the annual value of the exports of the country; or
"(ii) the country has outstanding public and publicly guaranteed debt, the net present value of which, as of the date the President determines that the country is eligible for debt relief under this section, is at least 250 percent of the annual fiscal revenues of the country, and has minimum ratios of exports to Gross Domestic Product of 30 percent, and of fiscal revenues to Gross Domestic Product of 15 percent.
"(e)
"(f)
"(1) has an excessive level of military expenditures;
"(2) has repeatedly provided support for acts of international terrorism, as determined by the Secretary of State under section 6(j)(1) of the Export Administration Act of 1979 (50 U.S.C. App. 2405(j)(1)) or section 620A(a) of the Foreign Assistance Act of 1961 (22 U.S.C. 2371(a));
"(3) is failing to cooperate on international narcotics control matters; or
"(4) (including its military or other security forces), engages in a consistent pattern of gross violations of internationally recognized human rights.
"(g)
"(1) to enable, facilitate, or encourage the implementation of policy changes and institutional reforms under economic reform programs, in a manner that ensures that such policy changes and institutional reforms are designed and adopted through transparent and participatory processes;
"(2) to adopt an integrated development strategy of the type described in section 1624(a) of the International Financial Institutions Act [22 U.S.C. 262p–7], to support poverty reduction through economic growth, that includes monitorable poverty reduction goals;
"(3) to take steps so that the financial benefits of debt relief are applied to programs to combat poverty (in particular through concrete measures to improve economic infrastructure, basic services in education, nutrition, and health, particularly treatment and prevention of the leading causes of mortality) and to redress environmental degradation;
"(4) to take steps to strengthen and expand the private sector, encourage increased trade and investment, support the development of free markets, and promote broad-scale economic growth;
"(5) to implement transparent policy making and budget procedures, good governance, and effective anticorruption measures;
"(6) to broaden public participation and popular understanding of the principles and goals of poverty reduction, particularly through economic growth, and good governance; and
"(7) to promote the participation of citizens and nongovernmental organizations in the economic policy choices of the government.
"(h)
"(i)
"(j)
Notification to Congress on Debt Relief Agreements
Similar provisions were contained in the following prior appropriation acts: