Memorandum on Delegation of Authority With Respect to Debt Reduction for the Poorest Countries

Memorandum for the Secretary of the Treasury

Subject: Delegation of Authority With Respect to Debt Reduction for the Poorest Countries

By the authority vested in me as President by the Constitution and laws of the United States of America, including section 570 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1996 (Public Law 104-107) (the "FY 1996 Act"), section 561 of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1995 (Public Law 103-306) (the "FY 1995 Act"), and section 301 of title 3 of the United States Code, I hereby delegate to the Secretary of the Treasury, in consultation with the Secretary of State and the Secretary of Defense, the functions, authorities, and duties conferred upon the President by section 570(a) of the FY 1996 Act, by section 561(a) of the FY 1995 Act, and by any hereafter-enacted provision of law that is the same or substantially the same as section 570(a) of the FY 1996 Act and section 561(a) of FY 1995 Act.

The Secretary of the Treasury is authorized and directed to publish this memorandum in the Federal Register.

WILLIAM J. CLINTON

THE WHITE HOUSE,

Washington, July 8, 1996.