Title 22 — Foreign Relations and IntercourseRelease 119-73not60
§286dd Fund Bailouts of Banks; Rescheduling of Debt
Title 22 › Chapter 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter XV— INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT › § 286dd
Summary
Treasury Secretary must tell the U.S. Executive Director to oppose any Fund drawing if the money would mainly repay unsafe bank loans, and press the Fund to encourage debt rescheduling consistent with safe banking and ability to pay.
Full Legal Text
Title 22, §286dd
Foreign Relations and Intercourse — Source: USLM XML via OLRC
The Secretary of the Treasury shall instruct the United States Executive Director of the Fund—
(1)to oppose and vote against any Fund drawing by a member country where, in his judgment, the Fund resources would be drawn principally for the purpose of repaying loans which have been imprudently made by banking institutions to the member country; and
(2)to work to insure that the Fund encourages borrowing countries and banking institutions to negotiate, where appropriate, a rescheduling of debt which is consistent with safe and sound banking practices and the country’s ability to pay.
Reference
Citations & Metadata
Citation
22 U.S.C. § 286dd
Title 22 — Foreign Relations and Intercourse
Last Updated
Apr 5, 2026
Release point: 119-73not60