The Operation of the Enterprise for the Americas Facility

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Excerpt from The Operation of the Enterprise for the Americas Facility: Report to Congress, January, 1993 The purpose of this report is to discuss the implementation of the debt element of the bai. Debt reduction is an important tool for encouraging countries to sustain efforts to reform their economies. By easing the burden of debt in support of sound economic management, the United States can help Latin American and Caribbean countries attract new investment capital and make the rewards of reform more immediate. In addition, by allowing interest payments on remaining debt to be made in local currency to support environmental and child development projects at the grass roots level, this program offers new hope for local community efforts to improve everyday life. Since the inception of the bai, the United States has reduced bilateral foreign assistance and/or food assistance obligations of Argentina, Bolivia, Chile, Colombia, El Salvador, Jamaica, and Uruguay by approximately $875 million dollars. These agreements could generate nearly $154 million in local currency funds for environmental and child development projects. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.