Amends the Export-Import Bank Act of 1945 to increase from $50,000,000 to $100,000,000 the amount of a proposed loan to a Communist nation that must be reviewed by the President. Prohibits the Export-Import Bank from having more than $2,000,000,000 in outstanding loans or guarantees to Communist nations. Repeals the provision requiring the Board of Directors of the Bank to approve loans or guarantees in excess of $25,000,000 to the Soviet Union for energy related exports.
Amends the Trade Act of 1974 to require the President to determine whether a foreign nation seeking most-favored-nation treatment is permitting its citizens the right or opportunity to emigrate. Authorizes the President to recommend to the Congress a five year extension (presently one year extension) of the waiver of provisions prohibiting most-favored-nation status, credits, and commercial agreements to countries denying freedom of emigration.
Repeals the limitation on credit to the Soviet Union.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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