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22 U.S.C. § 2430e — Interest on new obligations
Federal law — U.S. Code and appendices · legal_authorities
**(a) Rate of interest** New obligations issued by a beneficiary country pursuant to [section 2430c(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2430c/b&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2430f/d&num=0&edition=prelim). 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.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 2430e
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Source file: Laws/federal/codes/united-states-code/title-22/section-2430e-interest-on-new-obligations--1834d801f3.md
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Source location: Title 22, Chapter 32, § 2430e; chapter-032-foreign-assistance.md
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**(a) Rate of interest** New obligations issued by a beneficiary country pursuant to [section 2430c(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2430c/b&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2430f/d&num=0&edition=prelim). 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.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Funds appropriated under sections 1943 and 1944 of this title may be used for assistance under sections 1942 to 1945 of this title pursuant to such provisions applicable to the furnishing of such assistance contained in any successor Act to the Mutual Security Act of 1954, as amended, as the President determines to be necessary to carry out the purposes for which such funds are appropriated.
**(b)** Of the funds appropriated under [section 1943 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section1943&num=0&edition=prelim) not more than $800,000 shall be available only for assisting in transporting to and settling in Latin America selected immigrants from that portion of the Ryukyuan Archipelago under United States administration.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 1945
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority to reduce debt**
(1) **Authority** — The President may reduce the amount owed to the United States (or any agency of the United States) that is outstanding as of January 1, 1998, as a result of concessional loans made to an eligible country by the United States under subchapter I of this chapter, part IV of subchapter II of this chapter, or predecessor foreign economic assistance legislation.
(2) **Authorization of appropriations** — For the cost (as defined in [section 661a(5) of title 2](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title2-section661a/5&num=0&edition=prelim)) for the reduction of any debt pursuant to this section, there are authorized to be appropriated to the President—
(A) $25,000,000 for fiscal year 1999;
(B) $75,000,000 for fiscal year 2000; and
(C) $100,000,000 for fiscal year 2001.
(3) **Certain prohibitions inapplicable**
(A) *In general* — A reduction of debt pursuant to this section shall not be considered assistance for purposes of any provision of law limiting assistance to a country.
(B) *Additional requirement* — The authority of this section may be exercised notwithstanding [section 2370(r) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section2370/r&num=0&edition=prelim) or section 321 of the International Development and Food Assistance Act of 1975.
**(b) Implementation of debt reduction**
(1) **In general** — Any debt reduction pursuant to subsection (a) shall be accomplished at the direction of the Facility by the exchange of a new obligation for obligations of the type referred to in subsection (a) outstanding as of the date specified in subsection (a)(1).
(2) **Exchange of obligations**
(A) *In general* — The Facility shall notify the agency
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 2431d
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Federal law — U.S. Code and appendices · legal_authorities
Page 948
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 2430d
Editorial Notes
REFERENCES IN TEXT
Section 321 of the International Development and
Food Assistance Act of 1975, referred to in subsec.
(a)(3)(B), is section 321 of Pub. L. 94–161, which is set
out as a note under section 2220a of this title.
PRIOR PROVISIONS
A prior section 704 of Pub. L. 87–195, pt. IV, Sept. 4,
1961, 75 Stat. 463, amended section 1704 of Title 7, Agri-
culture, prior to repeal by Pub. L. 87–565, pt. IV, § 401,
Aug. 1, 1962, 76 Stat. 263, except insofar as section 704
affected section 1704.
Statutory Notes and Related Subsidiaries
REFERENCES TO SUBCHAPTER I DEEMED TO INCLUDE
CERTAIN PARTS OF SUBCHAPTER II
References to subchapter I of this chapter are deemed
to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and
VIII (§ 2349aa et seq.) of subchapter II of this chapter,
and references to subchapter II are deemed to exclude
such parts. See section 202(b) of Pub. L. 92–226, set out
as a note under section 2346 of this title, and sections
2348c and 2349aa–5 of this title.
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 subsec.
(a) of this section, see section 1 of Ex. Ord. No. 13345,
July 8, 2004, 69 F.R. 41901, set out as a note under sec-
tion 1738 of Title 7, Agriculture.
§ 2430d. Repayment of principal
(a) Currency of payment
The principal amount of each new obligation
issued pursuant to section 2430c(b) of this title
shall be repaid in United States dollars.
(b) Deposit of payments
Principal repayments of new obligations shall
be
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 2430e
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