§ 5332. Actions to facilitate creation of Authority

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1988

   International Debt Management Act of 1988

   Pub. L. 100–418 title III § 3112 · 102 Stat. 1107

   Enacted · 22 U.S.C. § 5332

   (Pub. L. 100–418, title III, § 3112, Aug. 23, 1988, 102 Stat. 1378.)

   Source evidence

   Code source credit
   (Pub. L. 100–418, title III, § 3112, Aug. 23, 1988, 102 Stat. 1378.)

   Enacted provision · exact public law section
   SEC. 3112. ACTIONS TO FACILITATE CREATION OF THE AUTHORITY. (a) In General.— No funds, appropriations, contributions, callable capital, financial guarantee, or any other financial support or obligation or contingent support or obligation on the part of the United States Government may be used for the creation, operation, or support of the International Debt Management Authority specified in section 3111, without the express approval of the Congress through subsequent law, nor shall any expenses associated with such authority, either directly or indirectly, accrue to any United States person without the consent of such person. Except as restricted in the preceding sentence, the Secretary of the Treasury shall review all potential resources available to the multilateral financial institutions which could be used to support the creation of the International Debt Management Authority. In the course of this review, the Secretary shall direct— (1) the United States Executive Director of the International Monetary Fund to determine the amount of, and alternative methods by which, gold stock of the Fund which, subject to action by its Board of Governors, could be pledged as collateral to obtain financing for the activities of the authority specified in section 3111; and (2) the United States Executive Director to the International Bank for Reconstruction and Development to determine the amount of, and alternative methods by which, liquid assets controlled by such Bank and not currently committed to any loan program which, subject to action by its Board of Governors, could be pledged as collateral for obtaining financing for the activities of the authority specified in section 3111. Reports. The Secretary of the Treasury shall include a report on the results of the review in the first report submitted under section 3111(c). (b) Construction of Section.— Subsection (a) shall not be construed to affect any provision of the Articles of Agreement of the International Monetary Fund or of the International Bank for Reconstruction and Development or any agreement entered into under either of such Agreements.

1 of 1 references resolved to an enrolled provision