§ 262o–1. Military spending by recipient countries; military involvement in economies of recipient countries

286 words·~1 min read·/usc/title-22/section-262o-1

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1 In general 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: to provide accurate and complete data on the annual expenditures and receipts of the armed forces; to establish good and publicly accountable governance, including an end to excessive military involvement in the economy; and to make substantial reductions in excessive military spending and forces.

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— 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; the respective institution supports lending operations which assist efforts of recipient governments to promote good governance, including public participation, and reduce military expenditures; and 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, § 1502 , as added Pub. L. 103–306, title V, § 526(d) , Aug. 23, 1994 , 108 Stat. 1633 .)

Connections3 off-index

3 references not yet in our index

Pub. L. 95-118
Pub. L. 103-306
108 Stat. 1633

Citation graph

cites case law

§ 262o–1

Military spending by recipient countries; military involvement in economies of recipient countries

Pub. L.Pub. L. 95-118

Pub. L.Pub. L. 103-306

Stat.108 Stat. 1633

Cites 3Cited by 0 across 0 sources