A bill to amend the Bretton Woods Agreement Act to authorize the United States to participate in the Supplementary Financing Facility of the International Monetary Fund.
PL 95-435 (H.R.9214), enacted 10/10/1978

PUBLIC LAW 95-435—OCT. 10, 1978 
92 STAT. 1051 
Public Law 95-435 
95th Congress 
An Act 
To amend the Bretton Woods Agreements Act to authorize the United States to 
participate in the Supplementary Financing Facility of the International Mone-
tary Fund. 
Be it enacted hy the Senate and House of Representatives of the 
United States of America in Congress assembled, That the Bretton 
Woods Agreements Act (22 U.S.C. 286—286k-2) is amended by add-
ing at the end thereof the following new section: 
"SEC. 28. (a) 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) The Secretary of the Treasury shall account, through the fund 
established by section 10 of the Gold Reserve Act of 1934 (31 U.S.C. 
822a), for any adjustment in the value of monetary assets held by the 
United States in respect of United States participation in the facility. 
"(c) 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.". 
SEC. 2. Section 3(d) of the Bretton Woods Agreements Act (22 
U.S.C. 286a(d)) is redesignated as section 3(d) (1) and amended by 
adding at the end thereof the following new paragraphs: 
"(2) The United States executive director of the Fund shall not be 
compensated by the Fund at a rate in excess of the rate provided for 
an mdividual occupying a position at level IV of the Executive 
Schedule under section 5315 of title 5, United States Code. The United 
States alternate executive director of the Fund shall not be compen-
sated by the Fund at a rate in excess of the rate provided for an indi-
vidual occupying a position at level V of the Executive Schedule under 
section 5316 of title 5, United States Code. 
"(3) The Secretary of the Treasury shall instruct the United States 
executive director of the Fund to present to the Fund's Executive 
Board a comprehensive set of proposals, consistent with maintaining 
high levels of competence of Fund personnel and consistent with the 
Articles of Agreement, with the objective of assuring that salaries and 
other compensation accorded Fund employees do not exceed those 
received by persons filling similar levels of responsibility within 
national government service or private industry. The Secretary shall 
report these proposals together with any measures adopted by the 
Fund's Executive Board to the Congress prior to February 1, 1979.". 
Oct. 10. 1978 
[H.R. 9214] 
Bretton Woods 
Agreements Act, 
amendments. 
22 use 
286e-7. 
Appropriation 
authorization. 
Report to 
Gjngress. 
39-194 O—80—pt. 1 
70 : Q U 
92 STAT. 1052 
PUBLIC LAW 95-435—OCT. 10, 1978 
22 use 
286e-8. 
Consultation. 
22 use 
286e-9. 
Report to 
Congress. 
Report to 
Congress. 
22 use 
286e-10. 
22 u s e 2151n. 
Uganda. 
22 u s e 2151 
note. 
Presidential 
certification to 
Congress. 
50 u s e app. 
2403. 
SEC. 3. The Brettoii Woods Agreements Act (22 U.S.C. 286— 
286k-2) is amended by adding at the end thereof the following new-
section : 
"SEC. 29. The Secretary of the Treasury shall instruct the United 
States executive director to seek to assure that no decision by the Inter-
national Monetary Fund on the use of the facility 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.". 
SEC. 4. The Bretton Woods Agreements Act (22 U.S.C. 286— 
286k-2) is amended by adding at the end thereof the following: 
"SEC. 30. (a) 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 stabili-
zation programs entered into pursuant to loans from the Supplemen-
tary Financing Facility 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. 
"(b) In order to gain a better understanding of the social, political 
and economic impact of the Fund's stabilization programs entered 
into pursuant to loans from the Supplementary Financing Facility 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 maxi-
mum extent feasible, with respect to countries to which loans are made 
by the Supplementary Financing Facility during each year, the effects 
of policies of those countries which result from the standby agreements 
on basic human needs in such countries. 
"SEC. 31. The Secretary of the Treasury shall in consultation with 
the Secretary of State prepare and submit to the Congress an annual 
report on the status of internationally recognized human rights, as 
defined in section 116(a) of the Foreign Assistance Act of 1961, in each 
country which draws on funds made available under the Supple-
mentary Financing Facility of the International Monetary Fund.". 
SEC. 5. (a) The Congress finds that— 
(1) the Government of Uganda, under the regime of General 
Idi Amin, has committed genocide against Ugandans; 
(2) the United States maintains substantial trade with the 
Republic of Uganda; and 
(3) the relationship of the United States with Uganda is unique 
and justifies an exceptional response by the United States to the 
actions of the Government of Uganda. 
(b) It is the sense of the Congress that the Government of the United 
States should take steps to disassociate itself from any foreign govern-
ment which engages in the international crime of genocide. 
(c) Notwithstanding any other provision of law, after date of enact-
ment of this section, no corporation, institution, group or individual 
may import, directly or indirectly, into the United States or its terri-
tories or possessions any article grown, produced, or manufactured in 
Uganda until the President determines and certifies to the Congress 
that the Government of Uganda is no longer committing a consistent 
pattern of gross violations of human rights. 
(d) Section 4 of the Export Administration Act of 1969 is amended 
by adding at the end thereof the following: 
PUBLIC LAW 95-435—OCT. 10, 1978 
92 STAT. 1053 
"(m) No article, material, or supply, including technical data or Presidential 
other information, other than cereal grains and additional food prod- certification to 
ucts, subject to the jurisdiction of the United States or exported by any Congress, 
person subject to the jurisdiction of the United States, may be exported 
to Uganda until the President determines and certifies to the Congress 
that the Government of Uganda is no longer committing a consistant 
pattern of gross violations of human rights.". 
(e) The Congress directs the President to encourage and support 22 USC 2151 
international actions, including economic restrictions, to respond to note. 
. , ^ 
conditions in the Republic of Uganda. 
SEC. 6. The Secretary of the Treasury shall instruct the Executive 22 USC 
Director of the United States to the International Monetary Fund to 286e-ll. 
? 
work in opposition to any extension of financial or technical assistance 
by the Supplemental Financing Facility or by any other agency or 
facility of such Fund to any country the government of which— 
(1) permits entry into the territory of such country to any per-
son who has committed an act of international terrorism, including 
any act of aircraft hijacking, or otherwise supports, encourages, 
or harbors such person; or 
(2) fails to take appropriate measures to prevent any such 
person from committing any such act outside the territory of such 
country. 
SEC. 7. Beginning with fiscal year 1981, the total budget outlays of 31 USC 27. 
the Federal Government shall not exceed its receipts. 
Approved October 10, 1978. 
LEGISLATIVE HISTORY: 
HOUSE REPORTS: No. 95-853 (Comm. on Banking, Finance and Urban Affairs) and 
No. 95-1613 (Comm. of Conference). 
SENATE REPORTS: No. 95-603 accompanying S. 2152 (Comm. on Foreign Relations) 
and No. 95-698 (Comm. on Banking, Housing, and Urban Af-
fairs). 
CONGRESSIONAL RECORD, Vol. 124 (1978): 
Feb. 22, 23, considered and passed House. 
July 31, considered and passed Senate, amended, in lieu of S. 2152. 
Sept. 25, Senate agreed to conference report. 
Sept. 28, House agreed to conference report.