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H.R. 4978 (100th)

A bill to require the President to authorize United States Government lending institutions to forgive the outstanding debt of certain sub-Saharan nations.

openUnited States· United States Congress· EN

Introduced

6 July 1988

Last action

1 August 1988 · Committee

Status

Executive Comment Requested from State, Treasury, AID.

Sponsors

Rep. Garcia, Robert [D-NY-18], Del. Fauntroy, Walter E. [D-DC-At Large], Rep. Dellums, Ronald V. [D-CA-9], Rep. Dymally, Mervyn M. [D-CA-31], Rep. Crockett, George W., Jr. [D-MI-13], Rep. Pease, Donald J. [D-OH-13], Sen. Schumer, Charles E. [D-NY], Rep. LaFalce, John J. [D-NY-29]

Subjects

Discovery layer

Source updated

7 February 2024

Official sourceView documentsShare

Summary

Requires the President to authorize U.S. Government lending institutions to forgive all or part of any outstanding loans to any sub-Saharan African nation experiencing difficulty in making debt service payments and the per capita gross national product of which for 1986 does not exceed $500. Defines "forgive" as: (1) releasing the debtor from the obligation to repay part or all of the loan; (2) providing an interest subsidy to the debtor with respect to the loan; (3) extending the maturity of the loan; or (4) taking any other action which would reduce the total outstanding debt of the debtor. Specifies that the provisions of this Act shall not be construed to authorize the President to reduce any foreign assistance provided under the Foreign Assistance Act of 1961, the Export-Import Bank Act of 1945, the Arms Export Control Act, or any other law.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 6 July 1988

    Introduced

    Referred to House Committee on Banking, Finance and Urban Affairs.

    Source: IntroReferral

  2. 6 July 1988

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 6 July 1988

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 15 July 1988

    Referred

    Referred to Subcommittee on International Development Institutions and Finance.

    Source: Committee

  5. 18 July 1988

    Referred

    Referred to Subcommittee on International Economic Policy and Trade.

    Source: Committee

  6. 1 August 1988

    Committee

    Executive Comment Requested from State, Treasury, AID.

    Source: Committee

Votes

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Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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