PRIA, Government Policy, Made Personal

Summary

A Latin American or Caribbean country can get Facility benefits only if it meets seven conditions. The country must have a government chosen by free elections, must not repeatedly support international terrorism, must cooperate on stopping illegal drugs, and its government and security forces must not regularly commit serious human rights abuses. It must have or be making real progress toward certain IMF programs (like standby or extended arrangements) and, as appropriate, World Bank structural loans, unless the President finds those programs would cause serious social or environmental harm. The country must also carry out major investment reforms or move toward an open investment system, and, if needed, have a satisfactory financing deal with its commercial bank lenders, which can include debt or debt-service reduction. The President must decide if a country meets these rules. The President must tell the right congressional committees at least 15 days before officially naming a country eligible.

Title 22, §2430b

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Requirements

To be eligible for benefits from the Facility under this subchapter, a country must be a Latin American or Caribbean country—

(1)whose government is democratically elected;

(2)whose government has not repeatedly provided support for acts of international terrorism;

(3)whose government is not failing to cooperate on international narcotics control matters;

(4)whose government (including its military or other security forces) does not engage in a consistent pattern of gross violations of internationally recognized human rights;

(5)that has in effect, has received approval for, or, as appropriate in exceptional circumstances, is making significant progress toward—

(A)an International Monetary Fund standby arrangement, extended Fund arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or in exceptional circumstances, a Fund monitored program or its equivalent, unless the President determines (after consultation with the Enterprise for the Americas Board) that such an arrangement or program (or its equivalent) could reasonably be expected to have significant adverse social or environmental effects; and

(B)as appropriate, structural or sectoral adjustment loans from the International Bank for Reconstruction and Development or the International Development Association, unless the President determines (after consultation with the Enterprise for the Americas Board) that the resulting adjustment requirements could reasonably be expected to have significant adverse social or environmental effects;

(6)has put in place major investment reforms in conjunction with an Inter-American Development Bank loan or otherwise is implementing, or is making significant progress toward, an open investment regime; and

(7)if appropriate, has agreed with its commercial bank lenders on a satisfactory financing program, including, as appropriate, debt or debt service reduction.

(b)Eligibility determinations

Consistent with subsection (a), the President shall determine whether a country is eligible to receive benefits under this subchapter. The President shall notify the appropriate congressional committees of his intention to designate a country as an eligible country at least 15 days in advance of any formal determination.

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 703 of Pub. L. 87–195, pt. IV, Sept. 4, 1961, 75 Stat. 463, amended section 1613d of this title and enacted provisions set out as a note under section 1613d of this title, prior to repeal by Pub. L. 87–565, pt. IV, § 401, Aug. 1, 1962, 76 Stat. 263, except insofar as section 703 affected section 1613d.

Executive Documents

Delegation of Functions For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. For delegation of functions of President under 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 Title 7, Agriculture.

§2430b Eligibility for Benefits