7-U.S.C.-1738B
§1738B – Eligibility For Benefits Under Facility
Pathway
Title 7 > Chapter 41 > Subchapter VI > Section 1738b
Details
- Reference: Section 1738b
- Legend: §1738B – Eligibility For Benefits Under Facility
- USCode Year: 2013
Provision Content
(a) Requirements
To be eligible for benefits from the Facility under this subchapter, a country shall—
(1) be a Latin American or Caribbean country;
(2) have in effect or have received approval for, or, as appropriate in exceptional circumstances, be making significant progress towards the establishment of—
(A) an International Monetary Fund (hereafter referred to in this subchapter as the IMF”) standby arrangement, extended IMF arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or in exceptional circumstances, an IMF-monitored program or its equivalent; and
(B) as appropriate, structural or sectoral adjustment loans from the International Bank for Reconstruction and Development (hereafter referred to in this subchapter as the World Bank”) or the International Development Association (hereafter referred to in this subchapter as the IDA”);
(3) have placed into effect major investment reforms in conjunction with an Inter-American Development Bank (hereafter referred to as the IDB”) loan or otherwise be implementing, or making significant progress towards an open investment regime; and
(4) if appropriate, have agreed with its commercial bank lenders on a satisfactory financing program, including, as appropriate, debt or debt service reduction.
(b) Eligibility determination
The President shall determine whether a country is an eligible country for purposes of subsection (a) of this section.
(July 10, 1954, ch. 469, title VI, §603, as added Pub. L. 101–624, title XV, §1512, Nov. 28, 1990, 104 Stat. 3658; amended Pub. L. 102–237, title III, §302, Dec. 13, 1991, 105 Stat. 1855.)
Amendments
1991—Subsec. (a)(3). Pub. L. 102–237 inserted hyphen between Inter” and American”.
Delegation of Functions
For delegation of functions of President under subsec. (b) of this section, see section 1 of Ex. Ord. No. 13345, July 8, 2004, 69 F.R. 41901, set out as a note under section 1738 of this title.
U.S. Encyclopedia of Law Coverage
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