Page 127 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 286e–10

§ 286e–5b. Acceptance of amendments to Articles

of Agreement of the Fund

The United States Governor of the Fund may

agree to and accept the amendments to the Articles of Agreement of the Fund as proposed in the

resolution numbered 45–3 of the Board of Governors of the Fund that was approved by such

Board on June 28, 1990.

(July 31, 1945, ch. 339, §57, as added Pub. L.

102–511, title X, §1001, Oct. 24, 1992, 106 Stat.

3357.)

§ 286e–6. Vote against establishment of Council

The United States Governor of the Fund is directed to vote against the establishment of a

Council authorized under Article XII, Section 1

of the Fund Articles of Agreement as amended,

if under any circumstances the United States’

vote in the Council would be less than its

weighted vote in the Fund.

(July 31, 1945, ch. 339, §26, as added Pub. L.

94–564, §1, Oct. 19, 1976, 90 Stat. 2660.)

§ 286e–7. Supplementary Financing Facility

(a) Availability of resources

For the purpose of participation of the United

States in the Supplementary Financing Facility

(hereinafter referred to as the ‘‘facility’’) established by the decision numbered 5508–(77/127) of

the Executive Directors of the Fund, the Secretary of the Treasury is authorized to make resources available as provided in the decision

numbered 5509–(77/127) of the Fund, in an amount

not to exceed the equivalent of 1,450 million Special Drawing Rights.

(b) Adjustments in the value of monetary assets

The Secretary of the Treasury shall account,

through the fund established by section 5302 of

title 31, for any adjustment in the value of monetary assets held by the United States in respect

of United States participation in the facility.

(c) Authorization of appropriations

Notwithstanding any other provision of this

section, the authority of the Secretary to enter

into agreements making resources available

under this section shall be limited to such

amounts as are appropriated in advance in appropriation Acts. Effective October 1, 1978, there

are hereby authorized to be appropriated to the

Secretary of the Treasury, without fiscal year

limitation, such sums as are necessary to carry

out subsection (a) of this section, but not to exceed an amount of dollars equivalent to 1,450

million Special Drawing Rights.

(July 31, 1945, ch. 339, §28, as added Pub. L.

95–435, §1, Oct. 10, 1978, 92 Stat. 1051.)

CODIFICATION

In subsec. (b), ‘‘section 5302 of title 31’’ substituted

for ‘‘section 10 of the Gold Reserve Act of 1934, as

amended (31 U.S.C. 822a)’’ on authority of Pub. L.

97–258, §4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

§ 286e–8. Treatment of creditors in debt rescheduling

The Secretary of the Treasury shall instruct

the United States executive director to seek to

assure that no decision by the International

Monetary Fund undermines or departs from

United States policy regarding the comparability of treatment of public and private creditors

in cases of debt rescheduling where official

United States credits are involved.

(July 31, 1945, ch. 339, §29, as added Pub. L.

95–435, §3, Oct. 10, 1978, 92 Stat. 1052; amended

Pub. L. 96–389, §5, Oct. 7, 1980, 94 Stat. 1554.)

AMENDMENTS

1980—Pub. L. 96–389 struck out ‘‘on the use of the facility’’ after ‘‘Monetary Fund’’.

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96–389 effective Oct. 7, 1980,

see section 12 of Pub. L. 96–389, set out as an Effective

Date note under section 286s of this title.

§ 286e–9. Stabilization programs

The Secretary of the Treasury shall instruct

the United States executive director on the Executive Board of the International Monetary

Fund to initiate a wide consultation with the

managing director of the Fund and other member country executive directors with regard to

encouraging the staff of the Fund to formulate

stabilization programs which, to the maximum

feasible extent, foster a broader base of productive investment and employment, especially in

those productive activities which are designed

to meet basic human needs.

(July 31, 1945, ch. 339, §30, as added Pub. L.

95–435, §4, Oct. 10, 1978, 92 Stat. 1052; amended

Pub. L. 96–389, §2(b), Oct. 7, 1980, 94 Stat. 1553;

Pub. L. 101–240, title V, §541(d)(1), (f)(2), Dec. 19,

1989, 103 Stat. 2518, 2519.)

AMENDMENTS

1989—Pub. L. 101–240 struck out subsec. (a) designation and struck out subsec. (b) which read as follows:

‘‘In order to gain a better understanding of the social,

political and economic impact of the Fund’s stabilization programs on borrowing countries, especially as it

relates to the poor majority within those countries, the

United States Governor of the Fund shall prepare and

submit, not later than 180 days after the close of each

calendar year, a report to the Congress. Such report

shall evaluate, to the maximum extent feasible, with

respect to countries to which loans are made during

each year, the effects of policies of those countries

which result from the standby agreements on basic

human needs in such countries.’’

1980—Subsec. (a). Pub. L. 96–389, §2(b)(1), struck out

‘‘entered into pursuant to loans from the Supplementary Financing Facility’’ after ‘‘stabilization programs’’.

Subsec. (b). Pub. L. 96–389, §2(b)(2), (3), struck out

‘‘entered into pursuant to loans from the Supplementary Financing Facility’’ after ‘‘stabilization programs’’ and ‘‘by the Supplementary Financing Facility’’ after ‘‘loans are made’’.

EFFECTIVE DATE OF 1980 AMENDMENT

Amendment by Pub. L. 96–389 effective Oct. 7, 1980,

see section 12 of Pub. L. 96–389, set out as an Effective

Date note under section 286s of this title.

§ 286e–10. Repealed. Pub. L. 97–35, title XIII,

§ 1371(a)(1), Aug. 13, 1981, 95 Stat. 746

Section, act July 31, 1945, ch. 339, §31, as added Oct.

10, 1978, Pub. L. 95–435, §4, 92 Stat. 1052, required an annual report to Congress on the status of internationally