§262k–1 — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

Starting September 30, 1999, the U.S. Treasury Secretary must tell the U.S. representative at each international financial institution to speak and vote against any loan or other use of the institution’s funds for a country’s government, except for basic human needs, when the Treasury Secretary finds that the government either lacks a working system to give civilian authorities audited reports on money used for the armed and security forces or has not given the institution information it requested about those audits. The rule covers the international financial institutions named in section 532(b) of the Act.

Title 22, §262k–1

Foreign Relations and Intercourse — Source: USLM XML via OLRC

(a)Beginning three years after September 30, 1996, the Secretary of the Treasury shall instruct the United States Executive Director of each international financial institution to use the voice and vote of the United States to oppose any loan or other utilization of the funds of their respective institution, other than to address basic human needs, for the government of any country which the Secretary of the Treasury determines—

(1)does not have in place a functioning system for reporting to civilian authorities audits of receipts and expenditures that fund activities of the armed forces and security forces;

(2)has not provided to the institution information about the audit process requested by the institution.

(b)For purposes of this section, the term “international financial institution” shall include the institutions identified in section 532(b) of this Act.

Notes & Related Subsidiaries

Editorial Notes

References in Text

section 532(b) of this Act, referred to in subsec. (b), is section 532(b) of Pub. L. 104–208, div. A, title I, § 101(c) [title V], Sept. 30, 1996, 110 Stat. 3009–121, 3009–152, which is not classified to the Code.

Amendments

1997—Subsec. (a)(1). Pub. L. 105–118, § 572(a), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “does not have in place a functioning system for a civilian audit of all receipts and expenditures that fund activities of the armed forces and security forces;”. Subsec. (a)(2). Pub. L. 105–118, § 572(b), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “has not provided a summary of a current audit to the institution.”

§262k–1 Transparency of budgets