Us Code § 7681 - Report on expansion of debt relief to non-HIPC countries
Full text of Us Code United States Code § 7681 — Report on expansion of debt relief to non-HIPC countries, with citation guidance and answers to common questions.
§ 7681. Report on expansion of debt relief to non-HIPC countries
(a) In general
Not later than 90 days after May 27, 2003, the Secretary of the Treasury shall submit to Congress a report on—
(1) the options and costs associated with the expansion of debt relief provided by the Enhanced HIPC Initiative to include poor countries that were not eligible for inclusion in the Enhanced HIPC Initiative;
(2) options for burden-sharing among donor countries and multilateral institutions of costs associated with the expansion of debt relief; and
(3) options, in addition to debt relief, to ensure debt sustainability in poor countries, particularly in cases when the poor country has suffered an external economic shock or a natural disaster.
(b) Specific options to be considered
Among the options for the expansion of debt relief provided by the Enhanced HIPC Initiative, consideration should be given to making eligible for that relief poor countries for which outstanding public and publicly guaranteed debt requires annual payments in excess of 10 percent or, in the case of a country suffering a public health crisis (as defined in section 262p–8(e) of this title), not more than 5 percent, of the amount of the annual current revenues received by the country from internal resources.
(c) Enhanced HIPC Initiative defined
In this section, the term "Enhanced HIPC Initiative" means the multilateral debt initiative for heavily indebted poor countries presented in the Report of G–7 Finance Ministers on the Cologne Debt Initiative to the Cologne Economic Summit, Cologne, June 18–20, 1999.
(Pub. L. 108–25, title V, §502, May 27, 2003, 117 Stat. 749.)
About This Section
22 U.S.C. § 7681 is part of Title 22 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.
This section may be cited in legal writing as 22 U.S.C. § 7681. For the most current official text, including any recent amendments, use the official source links below. Do not rely on this page as the sole authority for legal citation or litigation.
How to Read This Statute
Statutes are organized by title, chapter, section, and subsection. Pay attention to words like "shall," "may," "and," and "or," because they determine whether a requirement is mandatory or permissive and whether multiple conditions must all be met. Historical notes and amendments often appear at the end of a section.
Using This Page
This page is intended for research and educational use. Lawyers, students, journalists, and compliance professionals can use it as a starting point, but should always verify the current text through an official government source before relying on it for legal advice, filings, or compliance decisions.