7 U.S.C. § 1738b — Eligibility for benefits under Facility

(a) Requirements.—A country may receive Facility benefits only if it—(1) is a Latin American or Caribbean country; (2) has in place, has approval for, or, in exceptional circumstances, is making significant progress toward establishing an IMF standby or extended arrangement, or an arrangement under the structural adjustment or enhanced structural adjustment facility, or an IMF-monitored program or equivalent in exceptional circumstances; and, when appropriate, structural or sectoral adjustment loans from the World Bank or IDA; (3) has made major investment reforms with an IDB loan or is otherwise implementing, or significantly progressing toward, an open investment system; and (4) when appropriate, has agreed with commercial-bank lenders on a satisfactory financing program, including debt or debt-service reduction when appropriate.
(b) Eligibility determination.—The President decides whether a country qualifies under subsection (a).