Page:United States Statutes at Large Volume 113 Part 2.djvu/829

 PUBLIC LAW 106-113—APPENDIX E 113 STAT. 1501A-311 (B) in paragraph (6), by striking "section 7" and inserting "section 1007"; (C) in paragraph (8)— (i) in subparagraph (A), by striking "section 4(b)" and inserting "1004(b)"; and (ii) in subparagraph (B), by striking "section 4(b)(1)(B)" and inserting "section 1004(b)(1)(B)"; and (D) in paragraph (9), by striking "section 4" and inserting "section 104"; and (3) in section 1004 (112 Stat. 2681-712)— (A) in subsection (b)(3)(B)(ii)(II), by striking "section 4(a)" and inserting "section 1004(a)"; and (B) in subsection (d)(2)(G), by striking "section 6" and inserting "section 1006". TITLE V—INTERNATIONAL DEBI^ RELIEF SEC. 501. ACTIONS TO PROVIDE BILATERAL DEBT RELIEF. (a) CANCELLATION OF DEBT. — Subject to the availabihty of amounts provided in advance in appropriations Acts, the President shall cancel all amounts owed to the United States (or any agency of the United States) by any country eligible for debt reduction under this section, as a result of loans made or credits extended prior to June 20, 1999, under any of the provisions of law specified in subsection (b). (b) PROVISIONS OF LAW. —The provisions of law referred to in subsection (a) are the following: (1) Sections 221 and 222 of the Foreign Assistance Act. (2) The Arms Export Control Act (22 U.S.C. 2751 et seq.). (3) Section 5(f) of the Commodity Credit Corporation Charter Act, 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) OTHER DEBT REDUCTION AUTHORITIES. —The authority provided in this section is in addition to any other debt relief authority and does not in any way limit such authority. (d) ELIGIBLE COUNTRIES. —^A country that is performing satisfactorily under an economic reform program shall be eligible for cancellation of debt under this section if— (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

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