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Title 22, Foreign Relations and IntercourseRelease 119-110

§2430e Interest on New Obligations

Title 22 › CHAPTER 32 — FOREIGN ASSISTANCE › SUBCHAPTER III–A — ENTERPRISE FOR THE AMERICAS INITIATIVE › § 2430e

Last updated Sep 22, 2026|Official source

Summary

Newly issued obligations must carry a concessional (lower-than-normal) interest rate. If the country has an Americas Framework Agreement, interest is paid in that country’s local money and put into an Americas Fund that belongs to the country until it is paid out under the agreement. If the country does not have the Agreement, interest is paid in U.S. dollars and put into the U.S. government account for those interest payments. If a country joins the Americas Framework Agreement after interest first became due, any interest already paid will not be moved into the Americas Fund.

Full Legal Text

Title 22, §2430e

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Rate of interest
New obligations issued by a beneficiary country pursuant to section 2430c(b) of this title shall bear interest at a concessional rate.
(b)Currency of payment; deposits
(1)Local currency
If the beneficiary country has entered into an Americas Framework Agreement, interest shall be paid in the local currency of the beneficiary country and deposited in an Americas Fund. Such interest shall be the property of the beneficiary country, until such time as it is disbursed pursuant to section 2430f(d) of this title. Such local currencies shall be used for the purposes specified in the Americas Framework Agreement.
(2)United States dollars
If the beneficiary country has not entered into an Americas Framework Agreement, interest shall be paid in United States dollars and deposited in the United States Government account established for interest payments of the obligations for which the new obligations were exchanged.
(c)Interest already paid
If a beneficiary country enters into an Americas Framework Agreement subsequent to the date on which interest first became due on the newly issued obligation, any interest already paid on such new obligation shall not be redeposited into the Americas Fund established for that country.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Prior Provisions

A prior section 706 of Pub. L. 87–195, pt. IV, Sept. 4, 1961, 75 Stat. 463, enacted section 1945 of this title, prior to repeal by Pub. L. 87–565, pt. IV, § 401, Aug. 1, 1962, 76 Stat. 263, except insofar as section 706 affected section 1945.

Reference

Citations & Metadata

Citation

22 U.S.C. § 2430e

Title 22, Foreign Relations and Intercourse

Last Updated

Sep 22, 2026

Release point: 119-110