Page:United States Statutes at Large Volume 103 Part 3.djvu/436

 103 STAT. 2504 PUBLIC LAW 101-240—DEC. 19, 1989 Urban Affairs of the Senate a report on the actions taken and studies completed as required by subsection (a). SEC 405. FACTORS TO BE TAKEN INTO ACCOUNT IN DEVELOPING UNITED . STATES POLICY TOWARD DEBT REDUCTION FOR CERTAIN HIGHLY INDEBTED COUNTRIES; REPORT TO THE CONGRESS. Agriculture and (a) FACTOBS TO BE TAKEN INTO ACCOUNT. —In developing the agricultural policy of the United States Government with respect to debt reduc- commodities. ^^^ f^j. ^^^^i highly indebted country which has a substantial share of the export market for 1 or more agricultural commodities the export market for which the United States also has a substantial share, the Secretary of the Treasury shall consider £unong other factors the effects of such policy on: (1) United States exports of such commodities. (2) The world price of such commodities. (3) Domestic agricultural production and land distribution patterns in such country. (4) The volume of exports from such country of agricultural commodities the export market for which such country has a f, substantial share of. (5) Basic nutrition levels in such country. (b) REPORT TO THE CONGRESS.—Before the end of the 12-month period beginning on the date of the enactment of this section, the Secretary of the Treasury shall submit a report to the Congress on the potential impact of such policy on such factors in the highly indebted countries. (c) HIGHLY INDEBTED COUNTRY DEFINED. — As used in this section, the term "highly indebted country" means any country designated as a "Highly Indebted Country" in the annued World Debt Tables most recently published by the International Bank for Reconstruc- tion and Development before the date of the enactment of this section. SEC 406. SENSE OF THE CONGRESS THAT AGREEMENTS TO REDUCE DEBT BURDEN SHOULD BE ACCOMPANIED BY TRADE LIBERAUZATION. (a) FINDINGS. — The Congress finds that— » (1) Third World debtor nations have often been forced to raise trade barriers in order to accumulate foreign exchange sur- pluses to repay debt obligations; / (2) trade flows between such nations and the United States have lessened due to the debt crisis; (3) the reduction of trade barriers would benefit the world ^ economy and promote economic growth; and (4) the Brady plan encourages debt reduction agreements on "' behalf of domestic financial institutions. (b) SENSE OF THE CONGRESS.— It is the sense of Congress that the Secretary of the Treasury should continue to encourage trade Uberalization as an element of economic reform programs. 22 USC 2291 SEC. 407. LINKAGE OF DEBT REDUCTION LOANS TO REDUCTION IN DRUG note. TRAFFICKING; REPORT TO CONGRESS. (a) FINDINGS. — The Congress finds that— (1) the Brady Initiative is a positive step, recognizing as it does the need for reducing the debt and debt service burdens of "" the indebted developing countries;

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