2019 US Code
Title 22 - Foreign Relations and Intercourse
Chapter 63 - Support for East European Democracy (SEED)
Subchapter I - Structural Adjustment
Sec. 5414 - Debt-for-equity swaps and other special techniques
| 22 U.S.C. § 5414 (2019) |
| §5414. Debt-for-equity swaps and other special techniques |
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(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 debtNotwithstanding 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). (c) ConditionAn obligation may be sold under subsection (b) 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. |
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(Pub. L. 101–179, title I, §104, Nov. 28, 1989, 103 Stat. 1304.) |
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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. |
| United States Code, 2018 Edition, Supplement 1, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 63 - SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED) SUBCHAPTER I - STRUCTURAL ADJUSTMENT Sec. 5414 - Debt-for-equity swaps and other special techniques |
| section 5414 |
| 2019 |
| January 24, 2020 |
| No |
| standard |
| 103 Stat. 1304 |
| Public Law 101-179 |
