Page:United States Statutes at Large Volume 106 Part 4.djvu/929

 PUBLIC LAW 102-549—OCT. 28, 1992 106 STAT. 3665 "(2) whose government has not repeatedly provided support for acts of international terrorism; "(3) whose government is not failing to cooperate on international narcotics control matters; "(4) whose government (including its military or other security forces) does not engage in a consistent pattern of gross violations of intemationsliy recognized human rights; "(5) that has in effect, has received approval for, or, as appropriate in exceptional circumstances, is making significant progress toward— "(A) an International Monetary Fund standby arrangement, extended Fund arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or in exceptional circumstances, a Fund monitorcKl program or its equivalent, unless the President determines (after consultation with the Enterprise for the Americas Board) that such an arrangement or program (or its equivalent) could reasonably be expected to nave significant adverse social or environmental effects; and "(B) as appropriate, structural or sectoral adjustment loansfix>mthe International Bank for Reconstruction and Development or the International Development Association, unless the President determines (after consultation with the Enterprise for the Americas Board) that the resulting adjustment requirements could reasonably be expected to have significant adverse social or environmental effects; "(6) has put in place mcgor investment reforms in coi\junction with an Inter-American Development Bank loan or otherwise is implementing, or is making significant progress toward, an open investment regime; and (7) if appropriate, has agreed with its commercial bank lenders on a satisfactory financing program, including, as appropriate, debt or debt service reduction. (a), the President shall determine whether a country is eligible to receive benefits under this part. The President shall notify the appropriate congressional committees of his intention to designate a country as an eligible country at least 15 days in advance of any formal determination. '«EC. 704. BEDUCnON OF CERTAIN DEBT. "(a) AuTHORmr To REDUCE DEBT. — "(1) AUTHORITY.— The President may reduce the amount owed to the United States (or any agency of the United States) that is outstanding as of January 1, 1992, as a result of concessional loans made to an eligible countiy by the United States under part I of this Act, chapter 4 of part II of this Act, or predecessor foreign economic assistance legislation. "(2) APPROPRIATIONS REQUIREMENT. —The authority provided by this section may be exercised only in such amounts or to such extent as is provided in advance by appropriations Acts. "(3) CERTAIN pRomBmoNS INAPPUCABLE. —(A) A reduction of debt pursuant to this section shall not be considered assistance for purposes of any provision of law limiting assistance to a counl^. 22 USC 2430c.
 * (b) EuGmiLiry DETERMINATIONS. —Consistent with subsection President,

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