§ 262o-1. — Military spending by recipient countries; military involvement in economies of recipient countries.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC262o-1]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262o-1. Military spending by recipient countries; military
involvement in economies of recipient countries
(a) Consideration of commitment to achieving certain goals
(1) \1\ In general
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\1\ So in original. No par. (2) has been enacted.
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The Secretary of the Treasury shall instruct the United States
Executive Directors of the international financial institutions (as
defined in section 262r(c)(2) of this title) to promote growth in
the international economy by taking into account, when considering
whether to support or oppose loan proposals at these institutions,
the extent to which the recipient government has demonstrated a
commitment to achieving the following goals:
(A) to provide accurate and complete data on the annual
expenditures and receipts of the armed forces;
(B) to establish good and publicly accountable governance,
including an end to excessive military involvement in the
economy; and
(C) to make substantial reductions in excessive military
spending and forces.
(b) Steps to achieve goals required
The Secretary of the Treasury shall instruct the United States
Executive Directors of the international financial institutions (as so
defined) to promote a policy at each institution under which--
(1) the respective institution monitors closely and, through
regular policy consultations with recipient governments, seeks to
influence the composition of public expenditure in favor of funding
growth and development priorities and away from unproductive
expenditure, including excessive military expenditures;
(2) the respective institution supports lending operations which
assist efforts of recipient governments to promote good governance,
including public participation, and reduce military expenditures;
and
(3) the allocation of resources and the extension of credit by
the respective institution takes into account the performance of
recipient governments in the areas of good governance, ending
excessive military involvement in the economy and reducing excessive
military expenditures.
(Pub. L. 95-118, title XV, Sec. 1502, as added Pub. L. 103-306, title V,
Sec. 526(d), Aug. 23, 1994, 108 Stat. 1633.)
Definitions
The definitions in section 262p-5 of this title apply to this
section.
