838 
ees of such business enterprise in the United States 
because United States production is being replaced 
by such enterprise outside the United States; or 
(2) assistance for any program, project, or ac-
tivity that contributes to the violation of internation-
ally recognized workers rights, as defined in section 
507(4) of the Trade Act of 1974, of workers in the 
recipient country, including any designated zone or 
area in that country: Provided, That the application 
of section 507(4)(D) and (E) of such Act should be 
commensurate with the level of development of the 
recipient country and sector, and shall not preclude 
assistance for the informal sector in such country, 
micro and small-scale enterprise, and smallholder 
agriculture. 
INTERNATIONAL FINANCIAL INSTITUTIONS 
SEC. 7030. (a) None of the funds appropriated in 
title V of this Act may be made as payment to any inter-
national financial institution while the United States Ex-
ecutive Director to such institution is compensated by the 
institution at a rate which, together with whatever com-
pensation such Director receives from the United States, 
is in excess of the rate provided for an individual occu-
pying a position at level IV of the Executive Schedule 
under section 5315 of title 5, United States Code, or while 
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839 
any alternate United States Director to such institution 
is compensated by the institution at a rate in excess of 
the rate provided for an individual occupying a position 
at level V of the Executive Schedule under section 5316 
of title 5, United States Code. 
(b) The Secretary of the Treasury shall instruct the 
United States Executive Director at each international fi-
nancial institution to oppose any loan, grant, strategy or 
policy of these institutions that would require user fees 
or service charges on poor people for primary education 
or primary healthcare, including prevention, care and 
treatment for HIV/AIDS, malaria, tuberculosis, and in-
fant, child, and maternal well-being, in connection with the 
institutions’ financing programs. 
(c) The Secretary of the Treasury shall instruct the 
United States Executive Director at the International 
Monetary Fund to use the voice and vote of the United 
States to oppose any loan, project, agreement, memo-
randum, instrument, or other program of the Inter-
national Monetary Fund that would not exempt increased 
government spending on health care or education from na-
tional budget caps or restraints, hiring or wage bill ceilings 
or other limits imposed by the International Monetary 
Fund in Heavily Indebted Poor Countries. 
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(d) For purposes of this section ‘‘international finan-
cial institutions’’ are the International Bank for Recon-
struction and Development, the Inter-American Develop-
ment Bank, the Asian Development Bank, the Asian De-
velopment Fund, the African Development Bank, the Afri-
can Development Fund, the International Monetary Fund, 
the North American Development Bank, and the Euro-
pean Bank for Reconstruction and Development. 
DEBT-FOR-DEVELOPMENT 
SEC. 7031. In order to enhance the continued partici-
pation of nongovernmental organizations in debt-for-devel-
opment and debt-for-nature exchanges, a nongovern-
mental organization which is a grantee or contractor of 
the United States Agency for International Development 
may place in interest bearing accounts local currencies 
which accrue to that organization as a result of economic 
assistance provided under title III of this Act and, subject 
to the regular notification procedures of the Committees 
on Appropriations, any interest earned on such investment 
shall be used for the purpose for which the assistance was 
provided to that organization. 
AUTHORITY TO ENGAGE IN DEBT BUYBACKS OR SALES 
SEC. 7032. (a) LOANS ELIGIBLE FOR SALE, REDUC-
TION, OR CANCELLATION.— 
(1) AUTHORITY TO SELL, REDUCE, OR CANCEL 
CERTAIN LOANS.—Notwithstanding any other provi-
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