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Title 22, Foreign Relations and IntercourseRelease 119-110

§286j Use of Fund Resources

Title 22 › CHAPTER 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC. › SUBCHAPTER XV — INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT › § 286j

Last updated Sep 22, 2026|Official source

Summary

Require the U.S. governor and executive director to quickly ask the Fund to say if it can use its money for more than stabilizing currencies—like giving temporary help for seasonal, cyclical, or emergency balance-of-payments problems, or for relief, rebuilding, weapons, or covering large or long capital outflows. If the Fund says yes to any of those, the U.S. governor must promptly propose and support an amendment to the Fund’s Articles to forbid those uses, and the President must accept that amendment for the United States.

Full Legal Text

Title 22, §286j

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)Official interpretation of authority of Fund
The governor and executive director of the Fund appointed by the United States are directed to obtain promptly an official interpretation by the Fund as to whether its authority to use its resources extends beyond current monetary stabilization operations to afford temporary assistance to members in connection with seasonal, cyclical, and emergency fluctuations in the balance of payment of any member for current transactions, and whether it has authority to use its resources to provide facilities for relief, reconstruction, or armaments, or to meet a large or sustained outflow of capital on the part of any member.
(b)Proposal of amendment
If the interpretation by the Fund answers in the affirmative any of the questions stated in subsection (a), the governor of the Fund representing the United States is directed to propose promptly and support an amendment to the Articles of Agreement for the purpose of expressly negativing such interpretation. The President is authorized and directed to accept an amendment to that effect on behalf of the United States.

Reference

Citations & Metadata

Citation

22 U.S.C. § 286j

Title 22, Foreign Relations and Intercourse

Last Updated

Sep 22, 2026

Release point: 119-110