A joint resolution in support of an early transition to democracy in Chile and Paraguay.

Declares that the United States reaffirms that the U.S. Ambassadors to Chile and Paraguay represent the policies of the United States, the American people, and the Congress.

States that in order to further support democracy in those countries: (1) the United States condemns the acts of repression by the Governments of Chile and Paraguay and calls for the adoption of a timetable for the transition to democracy in both countries; and (2) the U.S. Executive Director of each multilateral development institution shall vote against any loan or other financial assistance for Chile or Paraguay which is not directed to programs that serve the human needs of the people.

Provides for the redemption of such assistance upon certification by the President to the Congress that both countries have made progress in recognition of human rights, economic equity, and the transition to democracy. Provides that the Congress shall have 15 days after receiving a presidential certification to enact a joint resolution disapproving the certification.