§ 5414. Debt-for-equity swaps and other special techniques
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/usc/title-22/section-5414A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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 debt Notwithstanding 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)Condition An 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.
(Pub. L. 101–179, title I, § 104, Nov. 28, 1989, 103 Stat. 1304.)
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- Pub. L. 101–179, title I, § 104
- 103 Stat. 1304
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§ 5414
Debt-for-equity swaps and other special techniques
Stat.×1
U.S.C.×1
Pub. L.Pub. L. 101–179, title I, § 104
Stat.103 Stat. 1304
Cites 3Cited by 2 across 2 sources