22-U.S.C.-5414

§5414 – Debt-For-Equity Swaps and Other Special Techniques

Pathway

Title 22 > Chapter 63 > Subchapter I > Section 5414

Details

• Reference: Section 5414
• Legend: §5414 – Debt-For-Equity Swaps and Other Special Techniques
• USCode Year: 2013

Provision Content

(a) Reduction of debt burden

The President shall take all appropriate actions to explore and encourage innovative approaches to the reduction of the government-to-government and commercial debt burden of East European countries which have taken substantive steps toward political democracy and economic pluralism.

(b) Authority for discounted sales of debt

Notwithstanding any other provision of law, the President may undertake the discounted sale, to private purchasers, of United States Government debt obligations of an East European country which has taken substantive steps toward political democracy and economic pluralism, subject to subsection (c) of this section.

(c) Condition

An obligation may be sold under subsection (b) of this section only if the sale will facilitate so-called debt-for-equity or debt-for-development swaps wherein such newly privatized debt is exchanged by the new holder of the obligation for—

(1) local currencies, policy commitments, or other assets needed for development or other economic activities, or

(2) for an equity interest in an enterprise theretofore owned by the particular East European government.

(Pub. L. 101–179, title I, §104, Nov. 28, 1989, 103 Stat. 1304.)

Delegation of Functions

Functions of President under this section delegated to Secretary of the Treasury by section 4 of Ex. Ord. No. 12703, Feb. 20, 1990, 55 F.R. 6351, set out as a note under section 5401 of this title.

U.S. Encyclopedia of Law Coverage

Subchapter IV – Financial Reports in the Legal Encyclopedia: Foreign Relations

In this entry about Subchapter IV – Financial Reports, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.

22-U.S.C.-4504 in the Legal Encyclopedia: Europe

In this entry about 22-U.S.C.-4504, find legal reference material, bibliographies and premiere content related to europe in the American Encyclopedia of Law, presenting a comprehensive view of the United States europe-specific issues, written by authorities in the field.

Topic Map

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