Executive Order 12757

By the authority vested in me as President by the Constituiton and the laws of the UnIted States of America, including the Agricultural Trade Development and Assistance Act of 1954 ("Act"), as amended by section 1512 of Public Law 101-624, it is hereby ordered as follows:

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 * The functions vested in the President by sections 603, 604, 611, and 614 of the Act are delegated to the Secretary of the Treasury ("Secretary"), who shall exercise such functions in accordance with recommendations of the National Advisory Council on International Monetary and Financial Policies ("Council"), as established by Executive Order No. 11269 of February 14, 1968. The Secretary of State, when necessary, shall report to the Council regarding the need to review the implementation of environmental programs pursuant to section 611 of the Act.

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 * No new agreement under Title I of the Agricultural Trade Development and Assistance Act of 1954, as amended by section 1512 of Public Law 101-624, and no new credit agreement under the Food for Progress Act of 1985 shall be entered into with any country that is in default with respect to the payment of principal or interest on any obligation issued pursuant to section 604 of the Act unless such country meets its obligations or unless the President so authorizes.

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 * This order is intended only to improve the internal management of the executive branch and is not intended to create any right or benefit, substantive or procedural, enforceable at law by a party against the United States, its agencies, its officers, or any person.

, March 19, 1991.