Dear Mr. Speaker: (Dear Mr. President:)
Pursuant to the authority vested in me by section 592(d) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1991 (Public Law 101 - 513) (the "Act"), I hereby report under paragraph (1) thereof. The basis for this report is described more fully in the attachment to this letter entitled Status of U.S. Efforts on Egyptian Debt.
I am simultaneously providing copies of a memorandum, signed by me today, in which I make certain determinations under section 592(d)(2) and 592(e)(2) of the Act. These determinations form an integral part of my report under paragraph (1) of section 592(d) of the Act. The attached Memorandum of Justification Regarding Presidential Determinations under Section 592 sets forth more fully the basis for these determinations.
Accordingly, I have authorized the Secretary of Defense and the Secretary of the Treasury to take the appropriate steps to reduce to zero amounts owed in connection with Egypt's remaining Foreign Military Sales debt.
Sincerely,
George Bush
Note: Identical letters were sent to Thomas S. Foley, Speaker of the House of Representatives, and Dan Quayle, President of the Senate. The letter was released by the Office of the Press Secretary on December 28.
George Bush, Letter to Congressional Leaders on the Cancellation of Egyptian Military Debt Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/265503