I
104TH CONGRESS
1ST SESSION
H. R. 1752
To amend the Bretton Woods Agreements Act to provide for public notice
of all conditions imposed on any country with respect to the use of
resources by the International Monetary Fund for monetary stabilization,
and to provide for the proposal of amendments to the Articles of Agree-
ment of the Fund to require each member country government to make
monthly public reports on the financial condition of the country.
IN THE HOUSE OF REPRESENTATIVES
JUNE 6, 1995
Mr. ZIMMER introduced the following bill; which was referred to the
Committee on Banking and Financial Services
A BILL
To amend the Bretton Woods Agreements Act to provide
for public notice of all conditions imposed on any country
with respect to the use of resources by the International
Monetary Fund for monetary stabilization, and to pro-
vide for the proposal of amendments to the Articles
of Agreement of the Fund to require each member coun-
try government to make monthly public reports on the
financial condition of the country.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. PUBLIC NOTICE OF CONDITIONS IMPOSED ON
ANY COUNTRY WITH RESPECT TO THE USE
OF RESOURCES BY THE INTERNATIONAL
MONETARY 
FUND 
FOR 
MONETARY 
STA-
BILIZATION.
The Bretton Woods Agreements Act (22 U.S.C. 286–
286mm) is amended by adding at the end the following:
‘‘SEC. 61. NOTIFICATION OF CONDITIONS IMPOSED ON ANY
COUNTRY WITH RESPECT TO THE USE OF RE-
SOURCES BY THE INTERNATIONAL MONE-
TARY FUND FOR MONETARY STABILIZATION.
‘‘(a) AVAILABILITY
OF FEDERAL FUNDS CONDI-
TIONED ON PROVISION OF INFORMATION.—No funds ap-
propriated after the date of the enactment of this section
may be paid to the Fund, unless—
‘‘(1) the Fund has agreed that, before the Fund
uses any resources for monetary stabilization, the
Fund shall transmit to the Secretary of the Treas-
ury a report that details all conditions, limitations,
and restrictions imposed on any country with respect
to such use of resources; and
‘‘(2) the Fund has not violated the agreement.
‘‘(b) RELEASE OF INFORMATION.—Upon receipt of
a report of the type described in subsection (a)(1), the
Secretary of the Treasury shall submit to the Congress
a copy of the report, and shall make a copy of the report
available for public inspection.
‘‘SEC. 62. PROPOSAL OF AMENDMENTS TO ARTICLES OF
AGREEMENT OF THE FUND TO REQUIRE
MONTHLY PUBLIC REPORTS OF FINANCIAL
CONDITION.
‘‘The Secretary of the Treasury shall instruct the
United States Executive Director of the Fund to propose,
and use the voice and vote of the United States to urge
the members of the Fund to adopt, such amendments to
the Articles of Agreement of the Fund as may be nec-
essary to require, as a condition of membership in the
Fund, that each member country government make public,
on a monthly basis, a report that specifies the following:
‘‘(1) The total amount of the outstanding sov-
ereign debt of the country as of the reporting date,
including with respect to each sovereign debt obliga-
tion of the country—
‘‘(A) the period to maturity of the obliga-
tion;
‘‘(B) the currency in which the obligation
is denominated; and
‘‘(C) the extent (if any) to which the obli-
gation is collateralized.
‘‘(2) The total amount of unobligated funds (in-
cluding foreign currency reserves) and other highly
liquid assets of the country that are on hand as of
the reporting date.
‘‘(3) A reasonable estimate of the amount by
which the national budget of the country will be in
surplus or deficit for the fiscal year of the country
in which the reporting date occurs.
Æ