A bill to amend the Export-Import Bank Act of 1954 with respect to credit to communist countries, and for other purposes.

Summary

Amends the Export-Import Bank Act of 1945 to increase from $50,000,000 to $100,000,000 the amount of a proposed loan to a Communist nation that must be reviewed by the President. Prohibits the Export-Import Bank from having more than $2,000,000,000 in outstanding loans or guarantees to Communist nations. Repeals the provision requiring the Board of Directors of the Bank to approve loans or guarantees in excess of $25,000,000 to the Soviet Union for energy related exports. Amends the Trade Act of 1974 to require the President to determine whether a foreign nation seeking most-favored-nation treatment is permitting its citizens the right or opportunity to emigrate. Authorizes the President to recommend to the Congress a five year extension (presently one year extension) of the waiver of provisions prohibiting most-favored-nation status, credits, and commercial agreements to countries denying freedom of emigration. Repeals the limitation on credit to the Soviet Union.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 5 February 1979

  Open at official source

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