§ 262r-6. — Reports on policies, operations, and management of international financial institutions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC262r-6]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
Sec. 262r-6. Reports on policies, operations, and management of
international financial institutions
(a) Annual report on financial operations
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 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.
(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
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\1\ See References in Text note below.
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(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, Sec. 101(a) [title VIII, Sec. 803], Nov. 6, 2000, 114
Stat. 1900, 1900A-66.)
References in Text
Section 802(b), referred to in subsec. (b)(1), is section 101(a),
[title VIII, Sec. 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, Sec. 803] of
Pub. L. 106-429. Section 101(a) [title VIII, Sec. 803(c)] of Pub. L.
106-429 amended section 262r-4 of this title.
Definitions
Pub. L. 106-429, Sec. 101(a) [title VIII, Sec. 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.''
