§ 5412. — Stabilization assistance for Poland.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC5412]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 63--SUPPORT FOR EAST EUROPEAN DEMOCRACY (SEED)
SUBCHAPTER I--STRUCTURAL ADJUSTMENT
Sec. 5412. Stabilization assistance for Poland
(a) Immediate emergency assistance
To the extent that the ongoing International Monetary Fund review of
the Polish economy projects a probable balance of payments shortage for
the fourth quarter of 1989, the United States Government, in carrying
out paragraph (1) of section 5411(b) of this title--
(1) should work closely with the European Community and
international financial institutions to determine the extent of
emergency assistance required by Poland for the fourth quarter of
1989, and
(2) should consider extending a bridge loan to relieve immediate
and urgent balance of payments requirements using the Exchange
Stabilization Fund in accordance with paragraph (1)(A) of section
5411(b) of this title.
(b) Immediate, multilateral response to Poland's economic stabilization
needs
In furtherance of section 5411(b)(1) of this title, the President,
acting in coordination with the European Community, should seek to
ensure that the industrialized democracies undertake an immediate,
multilateral effort to respond to Poland's request for $1,000,000,000 to
support its economic stabilization program.
(c) Additional authority to provide stabilization assistance
(1) Authority
In order to carry out paragraph (1) of section 5411(b) of this
title, the President is authorized to furnish assistance for Poland,
notwithstanding any other provision of law, to assist in the urgent
stabilization of the Polish economy and ultimately to promote
longer-term economic growth and stability, based on movement toward
free market principles. Such assistance may be provided for balance
of payments support (including commodity import programs), support
for private sector development, or for other activities to further
efforts to develop a free market-oriented economy in Poland.
(2) Authorization of appropriations
For purposes of providing the assistance authorized by this
subsection, there are authorized to be appropriated $200,000,000 for
fiscal year 1990 to carry out chapter 4 of part II of the Foreign
Assistance Act of 1961 (22 U.S.C. 2346 and following; relating to
the economic support fund), in addition to amounts otherwise
available for such purposes.
(Pub. L. 101-179, title I, Sec. 102, Nov. 28, 1989, 103 Stat. 1303.)
References in Text
The Foreign Assistance Act of 1961, referred to in subsec. (c)(2),
is Pub. L. 87-195, Sept. 4, 1961, 75 Stat. 424, as amended. Chapter 4 of
part II of the Foreign Assistance Act of 1961 is classified to part IV
(Sec. 2346 et seq.) of subchapter II of chapter 32 of this title. For
complete classification of this Act to the Code, see Short Title note
set out under section 2151 of this title and Tables.
Section Referred to in Other Sections
This section is referred to in sections 5402, 5411, 5471 of this
title.
