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

President Clinton delegated to the Secretary of the Treasury, in consultation with the Secretaries of State and Defense, the President's authority under two appropriations acts to reduce debt for the poorest countries. The delegation also applies to any future substantially similar provisions of law.

Federal Register Open PDF 61 FR 38563

Key directives

Delegate to Secretary of the Treasury the functions, authorities, and duties conferred upon the President by section 570(a) of FY 1996 Act
Delegate to Secretary of the Treasury the functions, authorities, and duties conferred upon the President by section 561(a) of FY 1995 Act
Delegation includes any hereafter-enacted provision of law that is the same or substantially the same as those sections
Secretary of Treasury to consult with Secretary of State and Secretary of Defense
Secretary of Treasury to publish this memorandum in the Federal Register

Who is ordered

Timeline

Immediate

Delegation of authority takes effect upon signing
Secretary of Treasury authorized to publish memorandum in Federal Register

Near term (90d)

—

Long term

Ongoing implementation of debt reduction programs for poorest countries
Future substantially similar laws automatically covered by this delegation

Risks & tensions

Automatic application to 'hereafter-enacted' similar laws creates open-ended delegation with uncertain scope
Requirement for interagency consultation (State, Defense) may create coordination delays or policy friction
Debt reduction for poorest countries may conflict with fiscal conservative priorities in Congress