7 USC 1738p - Sale, reduction, or cancellation of qualified debt to facilitate certain debt swaps

U.S Code last checked for updates: May 21, 2024

§ 1738p.

Sale, reduction, or cancellation of qualified debt to facilitate certain debt swaps

(a)

Authority to sell, reduce, or cancel qualified debt

For the purpose of facilitating eligible debt swaps, the President, in accordance with this section—

(1)

may sell to an eligible purchaser (as determined pursuant to subsection (c)(1)) any qualified debt of an eligible country; or

(2)

may reduce or cancel eligible debt of an eligible country upon receipt of payment from an eligible payor (as determined under subsection (c)(2)).

(b)

Terms and conditions

(c)

Eligible purchasers and eligible payors

(1)

Sales of debt

(2)

Reduction or cancellation of debt

(d)

Debtor consultation and right of first refusal

(1)

Consultation

(2)

Right of first refusal

(e)

Limitation

(f)

Administration

(g)

Appropriations requirement

(h)

Deposit of proceeds

(i)

Eligible debt swaps

(July 10, 1954, ch. 469, title VI, § 617, as added Pub. L. 102–532, § 2, Oct. 27, 1992, 106 Stat. 3510.)

cite as: 7 USC 1738p