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7 U.S.C. § 1736f–1 — Debt forgiveness
Federal law — U.S. Code and appendices · legal_authorities
**(a) Authority** The President, taking into account the financial resources of a country, may waive payments of principal and interest that such country would otherwise be required to make to the Commodity Credit Corporation under dollar sales agreements under subchapter II if—
(1) that country is a least developed country; and
(2) either—
(A) an International Monetary Fund standby agreement is in effect with respect to that country;
(B) a structural adjustment program of the International Bank for Reconstruction and Development or of the International Development Association is in effect with respect to that country;
(C) a structural adjustment facility, enhanced structural adjustment facility, or similar supervised arrangement with the International Monetary Fund is in effect with respect to that country; or
(D) even though such an agreement, program, facility, or arrangement is not in effect, the country is pursuing national economic policy reforms that would promote democratic, market-oriented, and long term economic development.
**(b) Request for debt relief by President** The President may provide debt relief under subsection (a) only if a notification is submitted to Congress at least 10 days prior to providing the debt relief. Such a notification shall—
(1) specify the amount of official debt the President proposes to liquidate; and
(2) identify the countries for which debt relief is proposed and the basis for their eligibility for such relief.
**(c) Appropriations action required** The aggregate amount of principal and interest waived under this section may not exceed the amount approved for such purpose in an Act appropriating funds to carry out this chapter.
**(d) Limitation on new credit assistance** If the authority of this section is us
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1736f–1
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Source file: Laws/federal/codes/united-states-code/title-7/section-1736f1-debt-forgiveness--a6ed7caef6.md
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Source location: Title 7, Chapter 41, § 1736f–1; chapter-041-food-for-peace.md
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**(a) Authority** The President, taking into account the financial resources of a country, may waive payments of principal and interest that such country would otherwise be required to make to the Commodity Credit Corporation under dollar sales agreements under subchapter II if—
(1) that country is a least developed country; and
(2) either—
(A) an International Monetary Fund standby agreement is in effect with respect to that country;
(B) a structural adjustment program of the International Bank for Reconstruction and Development or of the International Development Association is in effect with respect to that country;
(C) a structural adjustment facility, enhanced structural adjustment facility, or similar supervised arrangement with the International Monetary Fund is in effect with respect to that country; or
(D) even though such an agreement, program, facility, or arrangement is not in effect, the country is pursuing national economic policy reforms that would promote democratic, market-oriented, and long term economic development.
**(b) Request for debt relief by President** The President may provide debt relief under subsection (a) only if a notification is submitted to Congress at least 10 days prior to providing the debt relief. Such a notification shall—
(1) specify the amount of official debt the President proposes to liquidate; and
(2) identify the countries for which debt relief is proposed and the basis for their eligibility for such relief.
**(c) Appropriations action required** The aggregate amount of principal and interest waived under this section may not exceed the amount approved for such purpose in an Act appropriating funds to carry out this chapter.
**(d) Limitation on new credit assistance** If the authority of this section is used to waive payments otherwise required to be made by a country pursuant to this chapter, the President may not provide any new credit assistance for that country under this chapter during the 2-year period beginning on the date such waiver authority is exercised, unless the President provides to the Congress, before the assistance is provided, a written justification for the provision of such new credit assistance.
**(e) Applicability** The authority of this section applies with respect to credit sales agreements entered into before November 28, 1990.
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, act July 10, 1954, ch. 469, title III, § 310, formerly § 303, 68 Stat. 459, as amended and renumbered, which related to bartering authority of Secretary, was transferred to [section 1727g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1727g&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1701
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Notice of negotiations** The Secretary of State and the Secretary of the Treasury shall, in every feasible instance, notify the designated congressional committees not less than 15 days prior to any formal negotiation for debt relief under this subchapter.
**(b) Transmittal of text of agreements** The Secretary of State shall transmit to the designated congressional committees a copy of the text of any agreement with any foreign government which would result in any debt relief under this subchapter no less than 30 days prior to its entry into force, together with a detailed justification of the interest of the United States in the proposed debt relief.
**(c) Annual report** The Secretary of State or the Secretary of the Treasury, as appropriate, shall submit to the designated congressional committees not later than February 1 of each year a consolidated statement of the budgetary implications of all debt relief agreements entered into force under this subchapter during the preceding fiscal year.
**(d) Designated congressional committees** As used in this section, the term “designated congressional committees” means the Committee on Agriculture and the Committee on Foreign Affairs of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1691
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Federal law — U.S. Code and appendices · legal_authorities
No agreements to finance sales or to provide other assistance under this chapter shall be entered into after December 31, 2023.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1736e
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Effect on other programs** Nothing in the Global Food Security Strategy or this chapter or the amendments made by this Act shall be construed to supersede or otherwise affect the authority of the relevant Federal departments and agencies to carry out programs specified in subsection (b), in the manner provided, and subject to the terms and conditions, of those programs, including, but not limited to, the terms, conditions, and requirements relating to the procurement and transportation of food assistance furnished pursuant to such programs.
**(b) Programs described** The programs referred to in subsection (a) are the following:
(1) The Food for Peace Act ([7 U.S.C. 1691](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1691&num=0&edition=prelim) et seq.).
(2) The Food for Progress Act of 1985 ([7 U.S.C. 1736](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1736&num=0&edition=prelim)o).
(3) Section 416(b) of the Agriculture 11 So in original. Probably should be “Agricultural”. Act of 1949 ([7 U.S.C. 1431](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1431&num=0&edition=prelim)).22 So in original. Probably should be “1431(b)).”
(4) McGovern-Dole Food for Education Program ([7 U.S.C. 1736](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1736&num=0&edition=prelim)o–1).
(5) Local and Regional Procurement Program ([7 U.S.C. 1726c](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1726c&num=0&edition=prelim)).
(6) Bill Emerson Humanitarian Trust Act ([7 U.S.C. 1736f–1](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1736f–1&num=0&edition=prelim)).
(7) Any other food and nutrition security and emergency an
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 9308
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Repealed. Pub. L. 112–141, div. F, title I, § 100124(a)(1), July 6, 2012, 126 Stat. 915.]
**(b) Applicable Export Activity.—** The activities specified in this subsection are export activities (except inspection or weighing activities, other activities carried out for health or safety, or technical assistance provided in the handling of commercial transactions) of the Secretary of Agriculture or the Commodity Credit Corporation—
(1) carried out under the Food for Peace Act ([7 U.S.C. 1691](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1691&num=0&edition=prelim) et seq.);
(2) carried out under section 416 of the Agricultural Act of 1949 ([7 U.S.C. 1431](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1431&num=0&edition=prelim));
(3) carried out under the Bill Emerson Humanitarian Trust Act ([7 U.S.C. 1736f–1](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1736f–1&num=0&edition=prelim));
(4) under which agricultural commodities or their products are—
(A) donated through foreign governments or private or public agencies, including intergovernmental organizations; or
(B) sold for foreign currencies or for dollars on credit terms of more than 10 years;
(5) under which agricultural commodities or their products are made available for emergency food relief at less than prevailing world market prices;
(6) under which a cash grant is made directly or through an intermediary to a foreign purchaser to enable the purchaser to obtain United States agricultural commodities or their products in an amount greater than the difference between the prevailing world market price and the United States market price, free along side vessel at a United States port; or
(7) under which agricu
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 55314
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