22 USC 5414 - Debt-for-equity swaps and other special techniques

U.S Code last checked for updates: Nov 22, 2024

§ 5414.

Debt-for-equity swaps and other special techniques

(a)

Reduction of debt burden

(b)

Authority for discounted sales of debt

(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.)

cite as: 22 USC 5414