Sec. 10. United States leadership in the International Monetary Fund
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There are appropriated, for an increase in the quota of the United States in the International Monetary Fund, the dollar equivalent of 40,871,800,000 Special Drawing Rights, to remain available until expended. Notwithstanding the provisos under the heading under the heading United States Quota, International Monetary Fund under the heading International monetary programs in title XIV of the Supplemental Appropriations Act, 2009 ( International assistance programs Public Law 111–32 ; 123 Stat. 1916), the costs of the amounts appropriated under such headings and by paragraph
(1)shall be estimated on a present value basis, excluding administrative costs and any incidental effects on governmental receipts or outlays. The discount rate for a present value calculation under subparagraph
(A)shall be the appropriate interest rate on marketable Treasury securities. Section 251(b)(2)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901(b)(2)(A)) shall not apply to amounts appropriated by paragraph (1). Of amounts appropriated under the heading under the heading Loans to International Monetary Fund under the heading international monetary programs in title XIV of the Supplemental Appropriations Act, 2009 ( international assistance programs Public Law 111–32 ; 123 Stat. 1916) that are available for obligation, the dollar equivalent of 40,871,800,000 Special Drawing Rights is rescinded effective— on the date on which the rollback of the credit arrangement of the United States in the New Arrangements to Borrow of the International Monetary Fund takes effect; but not earlier than the increase in the quota of the United States authorized by section 72 of the Bretton Woods Agreements Act, as added by subsection (c)(2). Notwithstanding the second through fourth provisos under the heading under the heading Loans to International Monetary Fund under the heading international monetary programs in title XIV of the Supplemental Appropriations Act, 2009 ( international assistance programs Public Law 111–32 ; 123 Stat. 1916), the costs of the amounts appropriated under such headings and rescinded by paragraph
(1)shall be estimated on a present value basis, excluding administrative costs and any incidental effects on governmental receipts or outlays. The discount rate for a present value calculation under subparagraph
(A)shall be the appropriate interest rate on marketable Treasury securities. Section 251(b)(2)(A) of the Balanced Budget and Emergency Deficit Control Act of 1985 (2 U.S.C. 901(b)(2)(A)) shall not apply to amounts rescinded by paragraph (1). Section 17(b) of the Bretton Woods Agreements Act ( 22 U.S.C. 286e–2(b) ) is amended in paragraphs
(1)and
(2)by inserting before the end period the following: only to the extent that such amounts are not rescinded by an Act of Congress . The Bretton Woods Agreements Act ( 22 U.S.C. 286 et seq. ) is amended by adding at the end the following: The United States Governor of the Fund may accept the amendments to the Articles of Agreement of the Fund as proposed in resolution 66–2 of the Board of Governors of the Fund. The United States Governor of the Fund may consent to an increase in the quota of the United States in the Fund equivalent to 40,871,800,000 Special Drawing Rights. The authority provided by subsection
(a)shall be effective only to such extent or in such amounts as are appropriated in advance. .
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- Pub. L. 111-32
- 123 Stat. 1916
- 22 USC 286e–2(b)
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Sec. 10
United States leadership in the International Monetary Fund
Pub. L.Pub. L. 111-32
Stat.123 Stat. 1916
Cite22 USC 286e–2(b)
Cites 5Cited by 0 across 0 sources