National Interest Determinations Made by the President Under the Export-Import Bank Act V. 094588

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094588 1 (1974-04-02)

handle is hein.gao/gaobadxob0001 and id is 1 raw text is:

UNITED STATES GENERAL ACCOUNTING OFFICE
WASHINGTON, D.C. 20548

FOR RELEASE ON DELIVERY
Expected at 10:00 am
Tuesday, April 2, 1974

STATEMENT OF

ELMER B. STAATS

COMPTROLLER GENERAL OF THE

UNITED STATES

BEFORE THE

SUBCOMMITTEE ON INTERNATIONAL FINANCE

OF THE

COMMITTEE ON BANKING, HOUSING

AND URBAN AFFAIRS

UNITED STATES SENATE

Mr. Chairman and Members of the Subcommittee:

I am pleased to appear before you today to discuss our

recent legal opinion concerning national interest deter-

minations made by the President under section 2(b)(2) of the

Export-Import Bank Act, as amended.

Section 2(b)(2), 12 U.S.C. 635(b)(2), prohibits financing

by the Export-Import Bank (Eximbank) in connection with the

purchase or lease of any product directly by a Communist

country (as defined in section 620(f) of the Foreign Assistance

Act of 1961, as amended, 22 U.S.C. 2370(f)), or in connection