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Code · BILL · 117th Congress · S. 4617 (Introduced in Senate) — To authorize contributions to international financial institutions to help build the resilience of member countries,... · Sec. 3

Sec. 3. Loans to International Monetary Fund facilities and trust funds

248 words·~1 min read·/bill/117/s/4617/is/section-3·

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There are authorized to be appropriated to the Secretary of the Treasury for fiscal year 2023, $20,000,000, for contribution to the Poverty Reduction and Growth Trust or the Resilience and Sustainability Trust of the International Monetary Fund. Amounts appropriated pursuant to the authorization of appropriations under paragraph
(1)shall remain available until December 31, 2031. The Secretary of the Treasury may make loans to the Poverty Reduction and Growth Trust or the Resilience and Sustainability Trust of the International Monetary Fund. Amounts described in paragraph
(3)shall be available— to cover the cost (as defined in section 502 of the Congressional Budget Act of 1974 ( 2 U.S.C. 661a )) of loans authorized under paragraph (1); and to subsidize gross obligations for the principal amount of such loans, not to exceed $21,000,000,000 in the aggregate. Amounts described in this paragraph are— amounts appropriated pursuant to the authorization of appropriations under subsection (a); and amounts— appropriated under the heading Contributions to the International Monetary Fund Facilities and Trust Funds in any Act making appropriations for the Department of State, foreign operations, and related programs for a fiscal year before fiscal year 2023; and available for obligation as of the date of the enactment of this Act. The Exchange Stabilization Fund established under section 5302 of title 31, United States Code, and the financing account corresponding to transactions with the International Monetary Fund are authorized to enter into such transactions as are necessary to effectuate loans authorized under paragraph (1).
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Sec. 3
Loans to International Monetary Fund facilities and trust funds
U.S.C.§ 661a
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