Page:United States Statutes at Large Volume 115 Part 1.djvu/985

 PUBLIC LAW 107-99 —DEC. 21, 2001 115 STAT. 963 (2) In September 1999 the IMF suspended its support under a "Stand By Arrangement", approved the previous month, for economic adjustment and reform in Zimbabwe. (3) In October 1999, the International Development Association (in this section referred to as the "IDA") suspended all structural adjustment loeuis, credits, and guarantees to the Government of Zimbabwe. (4) In May 2000, the IDA suspended all other new lending to the Government of Zimbabwe. (5) In September 2000, the IDA suspended disbursement of funds for ongoing projects under previously-approved IOEUIS, credits, and guarantees to the Government of Zimbabwe. (b) SUPPORT FOR DEMOCRATIC TRANSITION AND ECONOMIC RECOVERY.— (1) BILATERAL DEBT RELIEF.— Upon receipt by the appropriate congressional committees of a certification described in subsection (d), the Secretary of the Treasury shall undertake a review of the feasibility of restructuring, rescheduling, or eliminating the sovereign debt of Zimbabwe held by any agency of the United States Government. (2) MULTILATERAL DEBT RELIEF AND OTHER FINANCIAL ASSISTANCE.— It is the sense of Congress that, upon receipt by the appropriate congressional committees of a certification described in subsection (d), the Secretary of the Treasury should— (A) direct the United States executive director of each multilateral development bank to propose that the bank should undertake a review of the feasibility of restructuring, rescheduling, or eliminating the sovereign debt of Zimbabwe held by that bsuik; and (B) direct the United States executive director of each international financial institution to which the United States is a member to propose to undertake financial and technical support for Zimbabwe, especially support that is intended to promote Zimbabwe's economic recovery and development, the stabilization of the Zimbabwean dollar, and the viability of Zimbabwe's democratic institutions. (c) MULTILATERAL FINANCING RESTRICTION.— Until the President makes the certification described in subsection (d), and except as may be required to meet basic humeui needs or for good governance, the Secretary of the Treasury shall instruct the United States executive director to each international fineuicial institution to oppose and vote against— (1) any extension by the respective institution of any loEUi, credit, or guarantee to the Government of Zimbabwe; or (2) any cancellation or reduction of indebtedness owed by the Government of Zimbabwe to the United States or any international financial institution. (d) PRESIDENTLVL CERTIFICATION THAT CERTAIN CONDITIONS ARE SATISFIED.— ^A certification under this subsection is a certification transmitted to the appropriate congressional committees of a determination made by the President that the following conditions are satisfied: (1) RESTORATION OF THE RULE OF LAW.— The rule of law has been restored in Zimbabwe, including respect for ownership and title to property, freedom of speech and association, and an end to the lawlessness, violence, and intimidation sponsored.

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