Us Code § 262r - –6. Reports on policies, operations, and management of international financial institutions

§ 262r. –6. Reports on policies, operations, and management of international financial institutions

(a) Repealed. Pub. L. 108–199, div. D, title V, §599B(c), Jan. 23, 2004, 118 Stat. 211

(b) Annual report on United States supported policies

Beginning 180 days after the date of enactment of this Act [November 6, 2000], or October 31, 2000, whichever is later, and on October 31 of each year thereafter, the Secretary shall submit a report to the appropriate congressional committees on—

(1) the actions taken by recipient countries, as a result of the assistance allocated to them by the multilateral development banks under programs referred to in section 802(b),¹ to strengthen governance and reduce the opportunity for bribery and corruption; and

(2) how International Development Association-financed projects contribute to the eventual graduation of a representative sample of countries from reliance on financing on concessionary terms and international development assistance.

(c) Omitted

(d) Report on debt relief

Not later than 90 days after the date of enactment of this Act [November 6, 2000], the Secretary shall submit a report to the appropriate congressional committees on the history of debt relief programs led by, or coordinated with, international financial institutions, including but not limited to—

(1) the extent to which poor countries and the poorest-of-the-poor benefit from debt relief, including measurable evidence of any such benefits; and

(2) the extent to which debt relief contributes to the graduation of a country from reliance on financing on concessionary terms and international development assistance.

(Pub. L. 106–429, §101(a) [title VIII, §803], Nov. 6, 2000, 114 Stat. 1900, 1900A–66; Pub. L. 108–199, div. D, title V, §599B(c), Jan. 23, 2004, 118 Stat. 211.)

Editorial Notes

References in Text

Section 802(b), referred to in subsec. (b)(1), is section 101(a), [title VIII, §802(b)] of Pub. L. 106–429, Nov. 6, 2000, 114 Stat. 1900, 1900A–66, which is not classified to the Code.

Codification

Section is comprised of section 101(a) [title VIII, §803] of Pub. L. 106–429. Section 101(a) [title VIII, §803(c)] of Pub. L. 106–429 amended section 262r–4 of this title.

Amendments

2004—Pub. L. 108–199 repealed heading and text of subsec. (a). Text read as follows: "Beginning 180 days after the date of enactment of this Act, or October 31, 2000, whichever is later, and on October 31 of each year thereafter, the Comptroller General of the United States shall submit to the appropriate congressional committees a report on the sufficiency of audits of the financial operations of each multilateral development bank conducted by persons or entities outside such bank."

Statutory Notes and Related Subsidiaries

Definitions

Pub. L. 106–429, §101(a) [title VIII, §806], Nov. 6, 2000, 114 Stat. 1900, 1900A–68, provided that: "In this title [enacting this section and section 286oo of this title and amending sections 262r–4, 286nn, and 2169 of this title]:

"(1) Appropriate congressional committees.—The term 'appropriate congressional committees' means the Committee on Foreign Relations and the Committee on Appropriations of the Senate, and the Committee on Banking and Financial Services [now Committee on Financial Services] and the Committee on Appropriations of the House of Representatives.

"(2) Bank.—The term 'Bank' means the International Bank for Reconstruction and Development.

"(3) Fund.—The term 'Fund' means the International Monetary Fund.

"(4) International financial institutions.—The term 'international financial institutions' means the multilateral development banks and the International Monetary Fund.

"(5) Multilateral development banks.—The term 'multilateral development banks' means the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Inter-American Development Bank, the Asian Development Bank, the Inter-American Investment Corporation, the African Development Bank, the African Development Fund, the European Bank for Reconstruction and Development, and the Multilateral Investment Guaranty Agency.

"(6) Secretary.—The term 'Secretary' means the Secretary of the Treasury."

¹ See References in Text note below.