Title 22, Foreign Relations and IntercourseRelease 119-110

§5332 Actions to Facilitate Creation of Authority

Title 22 › CHAPTER 62 — INTERNATIONAL FINANCIAL POLICY › SUBCHAPTER II — INTERNATIONAL DEBT › Part B — International Debt Management Authority › § 5332

Last updated Sep 22, 2026|Official source

Summary

No U.S. money, guarantees, or other financial help can be used to create, run, or support the International Debt Management Authority unless Congress approves it later in a new law. Also, the Authority cannot charge any United States person for its costs unless that person agrees. The Secretary of the Treasury must study what international financial resources could be used to help set up the Authority. The Secretary must ask the U.S. Executive Director at the IMF to report how IMF gold stock could be pledged as collateral (subject to the IMF Board of Governors), and ask the U.S. Executive Director at the IBRD how uncommitted liquid assets could be pledged (subject to its Board). The Secretary must put the review results into the first report required under section 5331(c). Nothing in this review changes the IMF or IBRD Articles of Agreement or any agreements under them.

Full Legal Text

Title 22, §5332

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(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 5331 of this title, 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 5331 of this title; 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 5331 of this title.

The Secretary of the Treasury shall include a report on the results of the review in the first report submitted under section 5331(c) of this title.

(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.

Reference

Citations & Metadata

Citation

22 U.S.C. § 5332

Title 22, Foreign Relations and Intercourse

Last Updated

Sep 22, 2026

Release point: 119-110