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.
1991—Subsec. (a)(3). Pub. L. 102–237inserted 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.
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The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Statutes at Large
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