Us Code § 1738b - Eligibility for benefits under Facility
Full text of Us Code United States Code § 1738b — Eligibility for benefits under Facility, with citation guidance and answers to common questions.
§ 1738b. Eligibility for benefits under Facility
(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).
(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.)
Editorial Notes
Amendments
1991—Subsec. (a)(3). Pub. L. 102–237 inserted hyphen between "Inter" and "American".
Executive Documents
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.
About This Section
7 U.S.C. § 1738b is part of Title 7 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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