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Developing a special legislative authority, specifically related to 

 the FSU's current situation. 



USDA and other relevant agencies are reviewing the options and a decision 

 will be made in the shortest possible tine. 



Key Factors 



As we look at options, a key factor will be Russia's ability to pay today, 

 in a year or two, and several years from now. This depends in a large degree 

 on the outcome of a Paris Club rescheduling. The government of Russia and its 

 creditors continue to work on a solution of the debt issue. 



A Paris Club rescheduling is a key to Russia's future creditworthiness. 

 Until this issue is resolved, until the debts are either rescheduled or 

 repaid, the FSU is not eligible for further participation in the GSM 102 or 

 103 credit guarantee programs. 



Russia's payment defaults have made it impossible at this time for USDA to 

 extend any new credit guarantees under the GSM- 102 credit guarantee program 

 because of the creditworthiness requirements imposed by the 1990 FACT Act. 



