### Question
How does the law define qualified debt?


### Answer
Under *7 U.S.C. § 1738r*, **qualified debt** is defined as:

> any obligation, or portion of such obligation, of an eligible country to pay for purchases of United States agricultural commodities guaranteed by the Commodity Credit Corporation under export credit guarantee programs authorized pursuant to section 714c(f) of title 15 or section 1707a(b) [1](#1738r_1_target) of this title—


(1) in which the Commodity Credit Corporation obtained a legal right or interest, as a result of assignment or subrogation, not later than September 1, 1992

#### Citation:
  - *7 U.S.C. § 1738r*
  - Heading: **CHAPTER 41-AGRICULTURAL TRADE DEVELOPMENT AND ASSISTANCE > SUBCHAPTER VI-ENTERPRISE FOR THE AMERICAS INITIATIVE**

