Title 22 — Foreign Relations and Intercourse
Chapter 83 — United States Leadership Against Hiv/aids, Tuberculosis, and Malaria
§ 7681. Report on expansion of debt relief to non-HIPC countries
Statutory text
In general
Not later than 90 days after , the Secretary of the Treasury shall submit to Congress a report on—
the options and costs associated with the expansion of debt relief provided by the Enhanced HIPC Initiative to include poor countries that were not eligible for inclusion in the Enhanced HIPC Initiative;
options for burden-sharing among donor countries and multilateral institutions of costs associated with the expansion of debt relief; and
options, in addition to debt relief, to ensure debt sustainability in poor countries, particularly in cases when the poor country has suffered an external economic shock or a natural disaster.
Specific options to be considered
Among the options for the expansion of debt relief provided by the Enhanced HIPC Initiative, consideration should be given to making eligible for that relief poor countries for which outstanding public and publicly guaranteed debt requires annual payments in excess of 10 percent or, in the case of a country suffering a public health crisis (as defined in section 262p–8(e) of this title), not more than 5 percent, of the amount of the annual current revenues received by the country from internal resources.
Enhanced HIPC Initiative defined
In this section, the term “Enhanced HIPC Initiative” means the multilateral debt initiative for heavily indebted poor countries presented in the Report of G–7 Finance Ministers on the Cologne Debt Initiative to the Cologne Economic Summit, Cologne, June 18–20, 1999.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
United States Leadership Against HIV/AIDS, Tuberculosis, and Malaria Act of 2003
Pub. L. 108–25 title V § 502 · 117 Stat. 711
Enacted · 22 U.S.C. § 7681
(Pub. L. 108–25, title V, § 502, May 27, 2003, 117 Stat. 749.)
Source evidence
Code source credit
(Pub. L. 108–25, title V, § 502, May 27, 2003, 117 Stat. 749.)Enacted provision · exact public law section
SEC. 502. REPORT ON EXPANSION OF DEBT RELIEF TO NON-HIPC COUNTRIES. (a) In General.— Not Deadline. later than 90 days after the date of enactment of this Act, the Secretary of the Treasury shall submit to Congress a report on— (1) the options and costs associated with the expansion of debt relief provided by the Enhanced HIPC Initiative to include poor countries that were not eligible for inclusion in the Enhanced HIPC Initiative; (2) options for burden-sharing among donor countries and multilateral institutions of costs associated with the expansion of debt relief; and (3) options, in addition to debt relief, to ensure debt sustainability in poor countries, particularly in cases when the poor country has suffered an external economic shock or a natural disaster. (b) Specific Options To Be Considered.— Among the options for the expansion of debt relief provided by the Enhanced HIPC Initiative, consideration should be given to making eligible for that relief poor countries for which outstanding public and publicly guaranteed debt requires annual payments in excess of 10 percent or, in the case of a country suffering a public health crisis (as defined in section 1625(e) of the Financial Institutions Act, as added by section 501 of this Act), not more than 5 percent, of the amount of the annual current revenues received by the country from internal resources. (c) Enhanced HIPC Initiative Defined.— In this section, the term “Enhanced HIPC Initiative” means the multilateral debt initiative for heavily indebted poor countries presented in the Report of G–7 Finance Ministers on the Cologne Debt Initiative to the Cologne Economic Summit, Cologne, June 18–20, 1999.
1 of 1 references resolved to an enrolled provision