(a) RequirementsTo be eligible for benefits from the Facility under this subchapter, a country shall—
(2) have in effect or have received approval for, or, as appropriate in exceptional circumstances, be making significant progress towards the establishment of—
(A)
an International Monetary Fund (hereafter referred to in this subchapter as the “IMF”) standby arrangement, extended IMF arrangement, or an arrangement under the structural adjustment facility or enhanced structural adjustment facility, or in exceptional circumstances, an IMF-monitored program or its equivalent; and
(b) Eligibility determination
The President shall determine whether a country is an eligible country for purposes of subsection (a).
(July 10, 1954, ch. 469, title VI, § 603, as added Pub. L. 101–624, title XV, § 1512, Nov. 28, 1990, 104 Stat. 3658; amended Pub. L. 102–237, title III, § 302, Dec. 13, 1991, 105 Stat. 1855.)