Sec. 2. Opposition of the United States to financial participation by the International Monetary Fund in foreign-led agreements

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The Bretton Woods Agreements Act ( 22 U.S.C. 286–286xx ) is amended by adding at the end the following: The Secretary of the Treasury shall instruct— the United States Executive Director at the Fund— to use the voice and vote of the United States to oppose the provision by the Fund of financing, including the disbursement of financing approved before the enactment of this section, in conjunction with financing to be provided by a multilateral organization of which the United States is not a member if— the present value of the financing to be provided by the multilateral organization would exceed the present value of the financing to be provided by the Fund; or the obligation of the debtor with respect to the financing provided by the Fund is not explicitly made senior to the obligation of the debtor with respect to the financing provided by the multilateral organization; and not later than 7 days after the approval by the Fund of any financing to which paragraph

(1)applies, to transmit a certification to the Committees on Financial Services and Foreign Affairs of the House of Representatives and the Committees on Banking, Housing, and Urban Affairs and Foreign Relations of the Senate that the obligation of the debtor with respect to the financing provided by the Fund has been explicitly made senior to the obligation of the debtor with respect to the financing provided by the multilateral organization; and the United States Governor of the Fund to use the voice and vote of the United States to oppose any proposal to make additional resources available to the Fund in the aggregate, or increase the quota of any member of the Fund who is a member of a multilateral organization of which the United States is not a member, if, during the 24 months before consideration of the proposal by the Board of Governors of the Fund— the Fund has approved the provision of, or disbursed, financing in conjunction with financing provided or to be provided by the multilateral organization, as described in paragraph (1); or an obligation to the Fund resulting from such an approval or disbursement has not been repaid in full. .

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22 USC 286–286xx

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Sec. 2

Opposition of the United States to financial participation by the International Monetary Fund in foreign-led agreements

Cite22 USC 286–286xx

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