“(a) Findings.—Congress makes the following findings:“(1) Through economic mismanagement, undemocratic practices, and the private appropriation of public assets, the Government of Zimbabwe has rendered itself ineligible to participate in International Bank for Reconstruction and Development and International Monetary Fund programs, which would otherwise be providing substantial resources to assist in the recovery and modernization of Zimbabwe’s economy. The people of Zimbabwe have thus been denied the economic and democratic benefits envisioned by the donors to such programs, including the United States.
“(2) In September 1999 the IMF suspended its support under a ‘Stand By Arrangement’, approved the previous month, for economic adjustment and reform in Zimbabwe.
“(3) In October 1999, the International Development Association (in this section referred to as the ‘IDA’) suspended all structural adjustment loans, credits, and guarantees to the Government of Zimbabwe.
“(4) In May 2000, the IDA suspended all other new lending to the Government of Zimbabwe.
“(5) In September 2000, the IDA suspended disbursement of funds for ongoing projects under previously-approved loans, credits, and guarantees to the Government of Zimbabwe.
“(6) In October 2016, the Government of Zimbabwe cleared a small hurdle in its longstanding public sector arrears with the IMF.
“(b) Support for Democratic Transition and Economic Recovery.—“(1) Bilateral debt relief.—Upon receipt by the appropriate congressional committees of a certification described in subsection (d), the Secretary of the Treasury shall undertake a review of the feasibility of restructuring, rescheduling, or eliminating the sovereign debt of Zimbabwe held by any agency of the United States Government.
“(2) Multilateral debt relief and other financial assistance.—It is the sense of Congress that, upon receipt by the appropriate congressional committees of a certification described in subsection (d), the Secretary of the Treasury should—“(A) direct the United States executive director of each multilateral development bank to support efforts to reevaluate plans to restructure, rebuild, reschedule, or eliminate Zimbabwe’s sovereign debt held by that bank and provide an analysis based on reasonable financial options to achieve those goals; and
“(B) direct the United States executive director of each international financial institution to which the United States is a member to propose to undertake financial and technical support for Zimbabwe, especially support that is intended to promote Zimbabwe’s economic recovery and development, the stabilization of the Zimbabwean currency, and the viability of Zimbabwe’s democratic institutions.
“(c) Multilateral Financing Restriction.—Until the President makes the certification described in subsection (d), and except as may be required to meet basic human needs or for good governance, the Secretary of the Treasury shall instruct the United States executive director to each international financial institution to oppose and vote against—“(1) any extension by the respective institution of any loan, credit, or guarantee to the Government of Zimbabwe; or
“(2) any cancellation or reduction of indebtedness owed by the Government of Zimbabwe to the United States or any international financial institution.
“(d) Presidential Certification That Certain Conditions Are Satisfied.—A certification under this subsection is a certification transmitted to the appropriate congressional committees of a determination made by the President that the following conditions are satisfied:“(1) Restoration of the rule of law.—The rule of law has been restored in Zimbabwe, including respect for ownership and title to property, freedom of speech and association, and an end to the lawlessness, violence, and intimidation sponsored, condoned, or tolerated by the Government of Zimbabwe, the ruling party, and their supporters or entities.
“(2) Election or pre-election conditions.—Either of the following two conditions is satisfied:“(A) Presidential election.—Zimbabwe has held a presidential election that is widely accepted as free and fair by independent international monitors, and the president-elect is free to assume the duties of the office.
“(B) Pre-election conditions.—In the event the certification is made before the presidential election takes place, the Government of Zimbabwe has sufficiently improved the pre-election environment to a degree consistent with accepted international standards for security and freedom of movement and association.
“(3) Commitment to equitable, legal, and transparent land reform.—The Government of Zimbabwe has demonstrated a commitment to an equitable, legal, and transparent land reform program.
“(4) Military and national police subordinate to civilian government.—The Zimbabwean Armed Forces, the National Police of Zimbabwe, and other state security forces are responsible to and serve the elected civilian government.
“(e) Waiver.—The President may waive the provisions of subsection (b)(1) or subsection (c), if the President determines that it is in the national interest of the United States to do so.