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U.S Code last checked for updates: Nov 22, 2024
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Title 22
Chapter 7
Subchapter XV
§ 286cc. Sustaining economic gro...
§ 286ee. International cooperati...
§ 286cc. Sustaining economic gro...
§ 286ee. International cooperati...
U.S. Code
§ 286dd.
Fund bailouts of banks; rescheduling of debt
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.
(
July 31, 1945, ch. 339, § 46
, as added
Pub. L. 98–181, title I
[title VIII, § 807],
Nov. 30, 1983
,
97 Stat. 1273
.)
cite as:
22 USC 286dd
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