Debt Deconcentration and Growth Promotion Act of 1987

[AI summary unavailable — showing source text] Debt Deconcentration and Growth Promotion Act of 1987 - Directs the Secretary of the Treasury to initiate negotiations with the member countries of the Organization for Economic Cooperation and Development and other appropriate countries over the establishment of a multilateral financial intermediary which would: (1) purchase sovereign debt of less developed countries from private creditors; and (2) enter into direct negotiations with the debtor countries over restructuring the debt in order to make such countries' debt services more manageable and to provide increased opportunities for economic growth in debtor countries and the industrialized trading countries. Directs the Secretary to propose that the participating countries agree: (1) to the establishment of a debt deconcentration facility, as an independent affiliate of the International Bank for Reconstruction and Development, authorized to purchase sovereign debt; (2) that the facility be authorized to negotiate with the debtor country whose debt has been purchased in order to achieve an agreement for retiring or restructuring such debt through traditional or innovative procedures; (3) that the facility be required to ensure…