‘‘(iv) 3 members shall be representa-
tives from nongovernmental environmental
and human rights organizations.
‘‘(B) DUTIES.—Not less frequently than
every 6 months, the Committee shall meet to
review individual country International Mone-
tary Fund programs, the conditionality at-
tached or proposed to be attached to such pro-
grams, and the actual or proposed position of
the United States regarding such programs, as
communicated by the United States Executive
Director at the International Monetary Fund,
for the purpose of advising the Secretary of the
Treasury on the extent to which individual
country International Monetary Fund pro-
grams—
‘‘(i) reflect an appropriate balance
among economic growth, fiscal responsibil-
ity, and social equity;
‘‘(ii) do not, in the interests of at-
tracting private capital, increase the ‘moral
hazard’ of ‘bailing out’ commercial lenders
from imprudent lending decisions;
‘‘(iii) ensure that labor market flexi-
bility measures do not undermine core
worker rights, particularly the right of free
association and collective bargaining, and
address directly any abuse of such rights;
and
‘‘(iv) do not undermine sustainable
development or environmental protections.
‘‘(C) CHAIRMAN.—The Committee may not
meet or continue a meeting unless the meeting
is chaired by the Secretary of the Treasury, the
Deputy Secretary of the Treasury, or an Under
Secretary of the Treasury designated by the
Secretary.
‘‘(2) INAPPLICABILITY OF TERMINATION PROVI-
SION
OF
THE
FEDERAL
ADVISORY
COMMITTEE
ACT.—Section 14(a)(2) of the Federal Advisory
Committee Act shall not apply to an entity estab-
lished pursuant to paragraph (1) of this sub-
section.’’.
TITLE IV—REPORTS TO
CONGRESS
SEC. 401. REPORT TO CONGRESS.
(a) IN GENERAL.—The Secretary of the Treasury
shall submit a semi-annual report to Congress on the sta-
tus of International Monetary Fund programs linked to
official United States government financing.
(b) CONTENTS OF REPORT.—With respect to each
program, the report shall include the following:
(1) Whether private creditors have agreed to—
(A) extend the maturities on outstanding
indebtedness; or
(B) additional measures such as a provi-
sion of new credits.
(2) Whether private creditor agreements con-
stitute an adequate contribution by such creditors to
the resolution of the problem that the International
Monetary Fund Program addresses.
(3) Whether International Monetary Fund in-
volvement in labor market flexibility measures has a
negative impact on core worker rights, particularly
the rights of free association and collective bargain-
ing.
(4) A description of any abuses of core worker
rights and how the International Monetary Fund ad-
dressed such abuses.
(5) Whether the program adequately balances
the need for austerity, economic growth, and social
equity.
(6) Whether the program adequately accounts
for and addresses the social and political con-
sequences in a debtor country of the implementation
of measures agreed to by the country authorities and
the International Monetary Fund, particularly indus-
trial restructuring and labor market flexibility meas-
ures.
(7) What financial measures have been agreed
to with a recipient country to ensure that short term
capital flows do not continue to cause economic in-
stability.
(8) What measures are included in the program
to ensure sustainable development and address envi-
ronmental devastation.
(9) What results have been obtained from a re-
cipient government with respect to institutional re-
forms.
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