22 U.S.C. § 286jj — Partial guarantees in connection with debt reduction for borrower countries
submitted 38 years ago by Pub. L. 100-461 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 75 words · no verdicts yet
The Treasury Secretary must direct the U.S. director at the World Bank to propose that the Bank set rules for offering partial guarantees on debt payments borrower countries owe private creditors. These guarantees would apply when they help clinch financing deals that involve major debt reduction.
The Secretary of the Treasury must instruct the United States Executive Director of the International Bank for Reconstruction and Development ("the Bank") to start discussions with the Bank's other directors.
The Secretary must propose that the Bank set criteria for providing partial guarantees on debt-service payments that borrower countries owe to private creditors. These guarantees would be used specifically when they would serve as a catalyst — helping seal a final financing agreement that includes significant debt reduction.
The Secretary of the Treasury shall instruct the United States Executive Director of the International Bank for Reconstruction and Development to initiate discussions with other directors of such bank and to propose that such bank establish criteria under which such bank would provide partial guarantees on debt service payments by borrower countries to private creditors when such guarantees would serve a catalytic role in facilitating final agreement on financing packages which involve significant debt reduction.
Source credit: (Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36.)
- 1988Enacted · Pub. L. 100-461 · 102 Stat. 2268
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-461 on 1988-10-01.
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