Treasury Has Sustained Its Formal Process to Promote U.S.
Policies at the International Monetary Fund (29-JUN-06,
GAO-06-876R).
In recent years, Congress has demonstrated significant interest
in legislating U.S. policies regarding the International Monetary
Fund (IMF). Currently, the administration is charged with
responding to dozens of legislative mandates related to the IMF,
including advocacy for certain IMF policies, instructions for
U.S. voting positions on IMF assistance to borrower countries,
and requirements to report to Congress on various aspects of U.S.
participation in the IMF. Since 2001, we reported that the United
States had maintained nearly 70 legislative mandates prescribing
U.S. policy goals at the IMF. These mandates covered a wide range
of policies, including policies regarding combating terrorism,
human rights, international trade, and weapons proliferation. As
an international organization, the IMF is generally exempt from
U.S. law. However, Congress can seek to influence IMF policy by
directing the Secretary of the Treasury to instruct the U.S.
Executive Director on the IMF's Executive Board to pursue certain
policy considerations or to vote in a particular way on IMF
programs or on assistance to specific countries. In 2000,
Congress directed us to assess the Department of the Treasury's
(Treasury) efforts to advance U.S. legislative mandates at the
IMF. The Consolidated Appropriations Act for Fiscal Year 2000
requires us to report annually on the extent to which IMF
practices are consistent with U.S. policies as set forth in
federal law. In January 2001, we reported that Treasury
instituted a formal process in 1999 to systematically promote
congressionally mandated policies at the IMF. We also found that,
although Treasury had had some influence over IMF policies, it
was difficult to attribute the adoption of a policy within the
IMF solely to the efforts of any one member because the IMF
generally makes decisions on the basis of consensus. Since 2003,
we have provided yearly updates on (1) the status of Treasury's
process for advancing congressional mandates at the IMF and (2)
the number of U.S. legislative mandates concerning the IMF. This
report provides a similar update for 2006.
-------------------------Indexing Terms-------------------------
REPORTNUM: GAO-06-876R
ACCNO: A56119
TITLE: Treasury Has Sustained Its Formal Process to Promote U.S.
Policies at the International Monetary Fund
DATE: 06/29/2006
SUBJECT: Foreign policies
International organizations
Monetary policies
Policy evaluation
Reporting requirements
International Monetary Fund
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GAO-06-876R
June 29, 2006
Congressional Committees
Subject: Treasury Has Sustained Its Formal Process to Promote U.S.
Policies at the International Monetary Fund
In recent years, Congress has demonstrated significant interest in
legislating U.S. policies regarding the International Monetary Fund (IMF).
Currently, the administration is charged with responding to dozens of
legislative mandates related to the IMF, including advocacy for certain
IMF policies, instructions for U.S. voting positions on IMF assistance to
borrower countries, and requirements to report to Congress on various
aspects of U.S. participation in the IMF.
Since 2001, we reported that the United States had maintained nearly 70
legislative mandates prescribing U.S. policy goals at the IMF. These
mandates covered a wide range of policies, including policies regarding
combating terrorism, human rights, international trade, and weapons
proliferation. As an international organization, the IMF is generally
exempt from U.S. law. However, Congress can seek to influence IMF policy
by directing the Secretary of the Treasury to instruct the U.S. Executive
Director on the IMF's Executive Board1 to pursue certain policy
considerations or to vote in a particular way on IMF programs or on
assistance to specific countries.
In 2000, Congress directed us to assess the Department of the Treasury's
(Treasury) efforts to advance U.S. legislative mandates at the IMF. The
Consolidated Appropriations Act for Fiscal Year 20002 requires us to
report annually on the extent to which IMF practices are consistent with
U.S. policies as set forth in federal law. In January 2001, we reported
that Treasury instituted a formal process in 1999 to systematically
promote congressionally mandated policies at the IMF.3 We also found that,
although Treasury had had some influence over IMF policies, it was
difficult to attribute the adoption of a policy within the IMF solely to
the efforts of any one member because the IMF generally makes decisions on
the basis of consensus. Since 2003, we have provided yearly updates on (1)
the status of Treasury's process for advancing congressional mandates at
the IMF and (2) the number of U.S. legislative mandates concerning the
IMF.4 This report provides a similar update for 2006.
1The Executive Board oversees the day-to-day business of the IMF. The
board comprises 24 executive directors who are appointed or elected by
member countries or by groups of member countries. The President appoints,
with the advice and consent of the Senate, the U.S. Executive Director to
represent the United States on the board.
2Pub.L. No. 106-113, S: 504(e), 113 Stat. 1501, 1501A-318 (1999).
3See GAO, International Monetary Fund: Efforts to Advance U.S. Policies at
the Fund, GAO-01-214 (Washington, D.C.: Jan. 29, 2001).
Results in Brief
The Department of the Treasury has sustained a formal process for
advancing U.S. policies at the IMF. A task force facilitates coordination
between Treasury and the U.S. Executive Director and identifies early
opportunities to influence decisions of IMF members. Since our September
2005 report, the task force has continued to meet on a regular basis to
identify opportunities to advance legislative mandates at the IMF.
Treasury continues to promote the task force as a tool for monitoring and
promoting legislative mandates and other policy priorities by, for
example, including discussion on crosscutting policy issues such as debt
relief and focusing attention n on both present and prospective IMF
programs.
We have identified 70 legislative mandates that prescribe U.S. policy
goals at the IMF, which is similar to the numbers we reported in our
previous reports. Since our last report, 9 mandates have either replaced
older mandates or represented amendments to mandates, and 1 mandate,
concerning direct support to the central government of Cambodia, has
expired. Treasury continues to notify the U.S. Executive Director about
new mandates through instruction letters.
Background
Treasury has the lead role within the executive branch for formulating
U.S. policy toward the IMF. The U.S. Executive Director is appointed by
the President and pursues U.S. policy objectives through membership on the
IMF's Executive Board. Treasury's Office of International Affairs, along
with the Office of the U.S. Executive Director of the IMF, formulates,
evaluates, and implements Treasury policy concerning U.S. participation in
the IMF, including the policy positions and directives set forth in
legislative mandates.
The legislative mandates that set forth U.S. policy regarding the IMF
cover a range of issues. Some of these, such as exchange rate policy, are
core to the IMF's mission. This report classifies mandates into one of two
broad categories: "policy" mandates and "directed vote" mandates.5 Policy
mandates seek to foster or advocate certain policies at the IMF by
directing Treasury to instruct the U.S. Executive Director to use his or
her "voice," "vote," or both, on behalf of the United States at the
Executive Board to bring about a policy change at the IMF. For example,
the U.S. Executive Director is directed to encourage the IMF to adopt
internationally recognized worker rights for borrowing countries. Directed
vote mandates are more prescriptive, in that they instruct the United
States to "oppose" or "vote against" loans or other IMF assistance to
particular countries or categories of countries. For example, the U.S.
Executive Director is directed to vote against financial assistance for a
country that is not compliant with the Trafficking Victims Protection Act6
(see enc. I, mandate 51).
4See GAO, Treasury Maintains a Formal Process to Advance U.S. Policies at
the International Monetary Fund, GAO-03-401R (Washington, D.C.: Feb. 7,
2003); Treasury Continues Its Formal Process to Promote U.S. Policies at
the International Monetary Fund, GAO-04-928R (Washington, D.C.: July 12,
2004); and Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies at the International Monetary Fund, GAO-05-1015R
(Washington, D.C.: Sept. 14, 2005).
5Reporting mandates that require Treasury to report to Congress on various
issues related to U.S. participation in the IMF constitute a third
category of legislative mandates. This report does not cover reporting
mandates because they are not related to advancing U.S. policy goals at
the IMF.
Treasury Has a Systematic Process for Promoting U.S. Legislative Mandates
Treasury continues to use a systematic process to advance U.S. legislative
mandates at the IMF. As we reported previously,7 Treasury created the Task
Force on Implementation of U.S. Policy and Reforms in the IMF in March
1999 to strengthen the process by which the United States pursues its
objectives at the IMF. In particular, the task force was to increase
awareness among Treasury staff about the mandates and identify early
opportunities to provide input to the U.S. Executive Director to influence
decisions regarding IMF members' programs and economic reviews. Treasury
also continues to make available to all relevant staff annual updates of
its comprehensive legislative mandates manual, which contains all mandates
applicable to U.S. participation in the IMF.
The task force includes staff-level representatives from the regional and
functional offices within Treasury's Office of International Affairs,
Treasury's Office of the General Counsel, and the U.S. Executive
Director's office. Task force members continue to meet monthly to discuss
how Treasury and the U.S. Executive Director can best apply legislative
mandates based on a country's economic circumstances.8
According to Treasury officials, the task force serves an important role
as a mechanism to systematically remind Treasury officials of the need to
address legislative mandates. Prior to each monthly meeting, task force
members review a tentative schedule of the IMF Executive Board upcoming
meetings to stay abreast of what countries will be discussed by the board.
Also, Treasury officials may prepare for the meetings by obtaining
information about other opportunities to attempt to influence the IMF. For
example, Treasury officials may hold discussions with IMF officials when
an IMF mission is planned to a particular country as part of negotiations
for a new or existing program or an economic review.
At the task force meetings, members discuss opportunities to implement
mandates, including mandates of potential relevance for specific
countries. The aim of the discussions is to identify the best
opportunities to make a credible and convincing case for pursuing a
mandate at a given time. Once agreement is reached on how to pursue a
mandate, Treasury officers for the specific country collaborate with U.S.
Executive Director staff and functional specialists to draft a policy
position for the U.S. Executive Director. The policy position can take the
form of input for a written statement or talking points for an oral
statement to the Executive Board. The U.S. Executive Director pursues U.S.
objectives, including the legislative mandates, through various channels
at the IMF. For example, the U.S. Executive Director regularly makes oral
or written statements to the board to apprise it of U.S. policy objectives
regarding requests from countries for new programs, IMF reviews of
existing programs, and regular IMF reviews of each members' economic
policies.
622 U.S.C. S: 7107 (2004).
7GAO-01-214, GAO-03-401R, GAO-04-928R, and GAO-05-1015R.
8Although the task force helps facilitate coordination between Treasury
officials and the U.S. Executive Director, it is not the final arbiter for
determining the U.S. policy position toward the IMF on any given issue.
The task force is not a review or approval mechanism to give Treasury
sanction to pursue individual mandates.
Since creating the task force, Treasury has made occasional modifications
to its efforts to monitor and promote legislative mandates at the IMF. For
example, in March 2001, the task force expanded its agenda to include not
only countries scheduled for discussion by the IMF Executive Board but
also countries that might need a program in the next several months. This
enabled task force participants to focus attention on countries not yet on
the board's calendar. In April 2004, Treasury officials initiated efforts
to make the task force more useful for participants by, for example,
reorganizing the meeting agenda into a table format that clearly indicates
which mandates are relevant to particular countries. They also categorized
the countries under discussion by differentiating those that currently
have an IMF program from those that may need one. In early 2005, Treasury
began transitioning its task force meetings from a biweekly to a monthly
basis, while holding periodic meetings, as needed, among the country desk
officers, the Office of the General Counsel, and the Executive Director's
office. The task force also added crosscutting policy discussions to the
agenda. As a result, according to Treasury officials, attendance at the
task force meetings increased.
Slight Decrease in Number of U.S. Legislative Mandates Concerning the IMF
The number of U.S. legislative mandates concerning the IMF has remained
relatively constant for the last four years. Through our legal analysis,
supplemented by documentation obtained from Treasury, we identified a
total of 70 IMF-related mandates as of April 2006, 1 mandate fewer than we
identified in our September 2005 report. Since our last update, 9
mandates have been enacted that simply renew expired mandates or represent
amendments to mandates. One mandate that instructed the U.S. Executive
Director to oppose loans to the central government of Cambodia has
expired.9 Treasury continues to provide annual notification letters
concerning new mandates to the U.S. Executive Director's office. These
notification letters instruct the U.S. Executive Director to take
appropriate actions with respect to IMF mandates.
Enclosure I identifies all directed vote and policy mandates that
prescribe U.S. policy goals at the IMF under current federal law. The
enclosure briefly describes the broad policy objectives that the mandates
address and some of the actions that are required by Treasury and the U.S.
Executive Director. The mandates date from 1945 to 2005, with the majority
enacted in the last decade. Some mandates address multiple policy issues,
sometimes overlapping each other. Enclosure II identifies some policies
that are addressed in multiple mandates.10 For example, 9 mandates pertain
to trade and 7 pertain to debt issues.
9Pub. L. No. 108-447, S: 554, 118 Stat. 2809, 3015 (2004).
Agency Comments and Our Evaluation
We received written comments on a draft of this report from the Department
of the Treasury, which we reprinted in enclosure III. Treasury concurred
with the facts presented in this report. Treasury reiterated its position
that the extensive legislative mandates could potentially undermine its
effectiveness in influencing the IMF.
Scope and Methodology
To describe the current process that Treasury has in place to advance
congressional mandates at the IMF, we reviewed the list of topics that
were discussed in the monthly task force meetings from September 2005 to
May 2006, which include summaries of major issues relating to the
mandates. To determine the current number of IMF mandates, we analyzed
Treasury's compilation of legislative mandates pertaining to the
international financial institutions and documents obtained through our
own legal research. In addition, we reviewed a January 2006 memorandum
from Treasury to the U.S. Executive Director concerning new mandates and
Treasury's 2006 compilation of legislative mandates applying to
international financial institutions. We used two criteria to identify the
relevant laws for this review: (1) any current law that explicitly directs
the U.S. Executive Director to the IMF to use his vote at the IMF to
achieve a policy goal and (2) any current law that seeks to have the U.S.
Executive Director use his voice at the IMF to promote a U.S. policy or
make a policy change. To address both objectives, we also interviewed
officials in Treasury's Office of International Monetary Policy and the
Office of the General Counsel.
We conducted our review from April 2006 to June 2006 in accordance with
generally accepted government auditing standards.
10Within enclosures I and II, mandates shown in bold represent those that
replaced expired mandates since our last report in September 2005.
- - - - -
We are sending copies of this report to other congressional committees,
the Secretary of the Treasury, the Managing Director of the International
Monetary Fund, and other interested parties. We will also make copies
available to others upon request. In addition, this report will be
available at no charge on the GAO Web site at http://www.gao.gov .
If you or your staff have any questions about this report, please contact
Thomas Melito at (202) 512-9601 or [email protected]; or Stephanie J. May at
(202) 512-6293 or [email protected] . Contact points for our Offices of
Congressional Relations and Public Affairs may be found on the last page
of this report. GAO staff who made major contributions to this report are
listed in enclosure IV.
Thomas Melito
Director, International Affairs and Trade
Stephanie J. May
Managing Associate General Counsel
General Counsel
Enclosures
List of Congressional Committees
The Honorable Richard G. Lugar
Chairman
The Honorable Joseph R. Biden Jr.
Ranking Minority Member
Committee on Foreign Relations
United States Senate
The Honorable Thad Cochran
Chairman
The Honorable Robert C. Byrd
Ranking Minority Member
Committee on Appropriations
United States Senate
The Honorable Mitch McConnell
Chairman
The Honorable Patrick J. Leahy
Ranking Minority Member
Subcommittee on State, Foreign Operations,
and Related Programs
Committee on Appropriations
United States Senate
The Honorable Michael G. Oxley
Chairman
The Honorable Barney Frank
Ranking Minority Member
Committee on Financial Services
House of Representatives
The Honorable Jerry Lewis
Chairman
The Honorable David R. Obey
Ranking Minority Member
Committee on Appropriations
House of Representatives
Enclosure I: U.S. Legislative Mandatesa Concerning the International
Monetary Fund (IMF)
Law and date Subject matter Required actions Directed
of vote
enactmentb
1 22 U.S.C. Human rights, The Department of the Yes
262d international Treasury (Treasury) shall
terrorism, instruct the U.S. Executive
Oct. 3, 1977 religious freedom, Director (USED) to oppose
and others, loans to countries whose
including nuclear governments engage in a
material pattern of gross violations
acquisition of internationally recognized
human rights or provide
refuge to individuals
committing acts of
international terrorism by
hijacking aircraft, unless
such assistance is directed
to serve basic human needs.
Severe violations of
religious freedom should be
considered in determining if
the country has engaged in
gross violations of
internationally recognized
human rights. Further,
Treasury is to instruct the
USED to consider a list of
concerns when carrying out
its duties, including whether
recipient countries are
seeking to acquire
unsafeguarded special nuclear
material.
2 22 U.S.C. Salaries and The President shall direct No
262e benefits of the USED to take all
International appropriate actions to keep
Oct. 3, 1977 Monetary Fund (IMF) the compensation for IMF
employees employees at a level
comparable to the
compensation provided
employees of both private
business and the U.S.
government in comparable
positions.
3 22 U.S.C. Trade, mining, and Treasury shall instruct the Yes
262h surplus commodities USED to use his voice and
vote on behalf of the United
Oct. 15, States to oppose any IMF
1986 assistance for the production
or extraction of any
commodity or mineral for
export, if it is in surplus
on world markets and if the
export of such commodity or
mineral would cause
substantial injury to the
U.S. producers of the same,
similar, or competing
commodity or mineral.
4 22 U.S.C. Impact of country Treasury shall instruct the No
262k Aug. adjustment programs USED to consider, when
15, 1985 on industries and reviewing loans, credits, or
commodity markets other uses of IMF resources,
and opposition to the effect that country
assistance for adjustment programs would
copper refining and have on individual
copper commodity industries' sectors and
export international commodity
markets, including specific
criteria to be considered as
a basis for a vote against
certain mining and related
project proposals.
Specifically, in the case of
copper, Treasury shall
instruct the USED to use the
voice and vote of the United
States to oppose any
assistance using appropriated
funds for the production of
any copper commodity for
export or for the financing
of the expansion,
improvement, or modernization
of copper mining, smelting,
and refining capacity.
5 22 U.S.C. Military spending Treasury shall instruct the Yes
262k-1 Sept. and audits USED to use his voice and
30, 1996 vote to oppose any loan,
other than for basic
humanitarian needs, to any
country that the Secretary of
the Treasury determines does
not have in place a
functioning system for
reporting to civilian
authorities audits of
receipts and expenditures
that fund activities of the
armed and security forces and
that has not provided to the
IMF information about the
audit process requested by
the institution.
6 22 U.S.C. Female genital Treasury shall instruct the Yes
262k-2 Sept. mutilation USED to use his voice and
30, 1996 vote to oppose any loan,
other than for basic
humanitarian needs, for any
government that the Secretary
of the Treasury determines
has a known history of
practicing female genital
mutilation and has not taken
steps to implement
educational programs designed
to prevent this practice.
7 22 U.S.C. Trade barriers and Treasury shall instruct the No
262n-3 Oct. agricultural USED to use aggressively his
21, 1998 commodities voice and vote to vigorously
promote policies to encourage
the opening of markets for
agricultural commodities and
products by requiring
recipient countries to make
efforts to reduce trade
barriers.
8 22 U.S.C. Military spending Treasury shall instruct the No
262o-1 Aug. and good governance USED to consider, when
23, 1994 deciding whether to support a
country's loan program, the
extent to which IMF borrowing
countries have demonstrated a
commitment to (1) providing
accurate and complete data on
military spending; (2)
establishing good and
publicly accountable
governance, including ending
excessive military
involvement in the economy;
and (3) making substantial
reductions in excessive
military spending and forces.
The USED shall promote a
policy that seeks to channel
funding toward growth and
development priorities and
away from unproductive
expenditures, including
military spending.
9 22 U.S.C. Transparency, debt, Treasury shall instruct the No
262o-2 Oct. private sector, USED to use aggressively his
21, 1998 trade, crisis voice and vote to enhance the
lending, exchange general effectiveness of the
rates, labor, the IMF with respect to numerous
environment, issues, including exchange
military spending, rate stability: trade
sound banking, liberalization:antitrust
social safety nets, reform: core labor standards:
good governance, social safety nets: sound
corruption, the banking principles: private
poor, ethnic and sector burden-sharing:
social strife, and disclosure of market
money laundering information; debt; crises
and financing of lending; good governance;
terrorism procurement reform;
corruption and bribery;
drug-related money
laundering; excessive
military spending; ethnic and
social strife; environmental
protection; transparency;
microenterprise lending,
especially to the world's
poorest, heavily indebted
countries; anti-money
laundering (AML); and
combating the financing of
terrorism (CFT) regimes.
10 22 U.S.C. Equal employment Treasury shall instruct the No
262p-4n Nov. opportunities at USED to use his voice and
5, 1990 the IMF vote to urge the IMF to adopt
policies and procedures that
ensure that the IMF does not
discriminate against any
person on the basis of race,
ethnicity, gender, color, or
religious affiliation in any
determination related to
employment.
11 22 U.S.C. Respect for Treasury shall direct the No
262p-4o Aug. indigenous peoples USED to use his voice and
23, 1994 vote to bring about the
creation and full
implementation of policies
designed to promote respect
for and full protection of
the territorial rights,
traditional economies,
cultural integrity,
traditional knowledge, and
human rights of indigenous
peoples.
12 22 U.S.C. Internationally Treasury shall direct the No
262p-4p Aug. recognized worker USED to use his voice and
23, 1994 rights vote to urge the IMF to adopt
policies to encourage
borrowing countries to
guarantee certain
internationally recognized
worker rights and to include
the status of such rights as
an integral part of the
policy dialogue with each
country. In addition, the
USED shall urge the IMF to
establish formal procedures
to screen projects and
programs for any negative
impact in a borrowing country
with respect to those rights.
13 22 U.S.C. State support of Treasury shall instruct the Yes
262p-4q Apr. international USED to use his voice and
24, 1996 terrorism vote to oppose any loan for a
country for which the
Secretary of State has made a
determination that it is a
terrorist state.
14 22 U.S.C. Terrorism Treasury may instruct the No
262p-4r Oct. USED to use aggressively the
26, 2001 voice and vote of the United
States to require an auditing
of IMF disbursements to
ensure that no funds are paid
to persons who commit,
threaten to commit, or
support terrorism. In
addition, if the President
determines that a country has
committed to take actions
that contribute to efforts of
the United States to respond
to, deter, or prevent acts of
international terrorism,
Treasury may instruct the
USED to use the voice and
vote of the United States to
support any loan or other use
of IMF funds for such
country.
15 22 U.S.C. Debt relief Treasury should urge the IMF No
262p-6 Nov. to complete a debt
29, 1999 sustainability analysis by
December 31, 2000, and
determine eligibility for
debt relief for as many
countries under the modified
Heavily Indebted Poor
Countries Initiative as
possible. Treasury shall make
every effort (including
instructing the USED) to
ensure that an external
assessment of the Heavily
Indebted Poor Countries
Initiative takes place by
December 31, 2001.
16 22 U.S.C. Extended Structural Treasury shall instruct the No
262p-7 Nov. Adjustment Facility USED to use his voice and
29, 1999 reform vote to promote the IMF's
establishment of poverty
reduction policies and
procedures to support
countries' efforts under
programs developed and
jointly administered by the
World Bank and the IMF
containing those components
listed in the mandate.
17 22 U.S.C. Personnel practices It shall be U.S. policy that No
262t at the IMF no initiatives, discussions,
or recommendations concerning
Dec. 19, the placement or removal of
1989 any personnel employed by the
IMF shall be based on the
political philosophy or
activity of that individual.
18 22 U.S.C. Treatment of Treasury shall instruct the No
286e-8 Oct. creditors in debt USED to seek to assure that
10, 1978 rescheduling no decision by the IMF
departs from U.S. policy
regarding the comparability
of treatment of public and
private creditors in cases of
debt rescheduling where
official U.S. credits are
involved.
19 22 U.S.C. Investment, Treasury shall instruct the No
286e-9 Oct. employment, and USED to encourage IMF staff
10, 1978 basic human needs to formulate economic
stabilization programs that
foster a broader base of
productive investment and
employment, especially in
those productive activities
that are designed to meet
basic human needs.
20 22 U.S.C. Countries harboring Treasury shall instruct the No
286e-11 Oct. international USED to work in opposition to
10, 1978 terrorists financing for countries
either harboring
international terrorists or
failing to take measures to
prevent acts of international
terrorism.
21 22 U.S.C. International trade In considering the policies No
286k July and economic of the United States in
31, 1945 stability foreign lending, the USED
shall give careful
consideration to progress
made in reaching agreement
among nations to reduce
restrictions on international
trade and promote
international economic
stability.
22 22 U.S.C. Basic human needs The USED shall recommend and No
286s Oct. 7, and economic work for changes in IMF
1980 adjustment programs guidelines to ensure the
effectiveness of economic
adjustment programs by
considering the effect the
program will have on issues
such as jobs and investment.
The USED shall also work
toward improved coordination
among the IMF, the World
Bank, and other appropriate
institutions in this area.
23 22 U.S.C. Dollar-Special Treasury shall encourage IMF No
286u Oct. 7, Drawing Rights member countries to negotiate
1980 substitution a dollar-Special Drawing
account Rights substitution account
in which equitable
burden-sharing would exist
among participants in the
account.
24 22 U.S.C. Membership for The USED shall notify the IMF No
286v Oct. 7, Taiwan in the IMF that it is U.S. policy that
1980 Taiwan be granted appropriate
membership in the IMF.
25 22 U.S.C. Denial of The USED shall notify the IMF No
286w membership for the that it is U.S. policy that
Palestinian the Palestinian Liberation
Oct. 7, 1980 Liberation Organization not be given
Organization membership or other status at
the IMF.
26 22 U.S.C. Assistance to The USED shall promote the No
286x Oct. 7, private sector of use of IMF programs to assist
1980 El Salvador, the private sector in any
Nicaragua, and nation, though particularly
other nations El Salvador and Nicaragua, in
creating an environment that
will stabilize a nation's
economy.
27 22 U.S.C. Exchange rate The USED shall work for No
286y stability adoption of policies in the
IMF to promote exchange rate
Nov. 30, stability. Also, in
1983 determining a vote of
assistance to any IMF
borrower, the USED shall take
into account whether the
borrower's policies are
consistent with certain IMF
requirements.
28 22 U.S.C. Transparency Treasury shall instruct the No
286z USED to initiate discussions
at the IMF,and propose and
Nov. 30, vote for adoption of
1983 procedures to increase both
the sharing of information
among IMF members and the
public dissemination of
certain IMF information
concerning international
borrowing and lending.
29 22 U.S.C. Denial of lending Treasury shall instruct the Yes
286aa Nov. to communist USED to actively oppose any
30, 1983 dictatorships facility involving use of IMF
credit by any communist
dictatorship unless certain
conditions are met.
30 22 U.S.C. Elimination of Treasury shall instruct the No
286bb Nov. predatory USED to propose and work for
30, 1983 agricultural export the adoption of an IMF policy
subsidies encouraging members to
eliminate all predatory
agricultural export subsidies
that might result in the
reduction of other member
countries' exports.
31 22 U.S.C. Trade, bank The USED shall recommend and Yes
286cc Nov. solvency, and shall work for changes in IMF
30, 1983 external debt guidelines and policies that
servicing encourage countries to
formulate economic adjustment
programs that deal with their
balance-of-payment
difficulties and external
debt owed to private banks.
The USED shall also oppose
and vote against fund
assistance for a country
whose annual external debt
services exceed 85 percent of
its annual export earnings,
unless Treasury can document
why an exception should be
given.
32 22 U.S.C. Bank bailouts and Treasury shall instruct the Yes
286dd Nov. debt rescheduling USED to oppose and vote
30, 1983 against any IMF drawing by a
member country that would be
used to repay loans
imprudently made by banking
institutions to a member
country and to ensure that
the IMF encourages borrowing
countries and banking
institutions to renegotiate a
rescheduling of debt that is
consistent with safe and
sound banking practices and
the country's ability to pay.
33 22 U.S.C. International Treasury shall instruct the No
286ee Nov. lending and USED to propose that the IMF
30, 1983 external adopt policies with respect
indebtedness to international lending,
including a policy to examine
the trend and volume of
external indebtedness of
private and public borrowers
in Article IV consultations.
34 22 U.S.C. IMF interest rates Treasury shall instruct the No
286ff USED to propose and work for
the adoption of IMF policies
Nov. 30, regarding the rate of
1983 remuneration paid on use of
members' quota subscriptions
and the rate of charges on
IMF drawings to bring those
in line with market rates.
35 22 U.S.C. Elimination of Treasury shall instruct the No
286gg Nov. trade and USED to consult with the IMF
30, 1983 investment to reduce obstacles to and
restrictions restrictions upon
international trade and
investment in goods and
services, eliminate unfair
trade and investment
practices, and promote
mutually advantageous
economic relations. The USED
shall also work to have the
IMF obtain agreement with
countries to eliminate
certain unfair trade and
investment practices and
shall take a country's
progress into account in
formulating its position on
requests for loans for
periodic financial
disbursements.
36 22 U.S.C. Impact of IMF Treasury shall instruct the No
286kk Dec. programs on the USED to seek policy changes
19, 1989 poor and the at the IMF that will result
environment in a review of policy
prescriptions implemented by
the IMF to determine whether
IMF objectives were met, the
social and environmental
impacts of such
prescriptions, and the
establishment of procedures
to ensure policy options that
reduce the potential adverse
impact on the poor or the
environment are included in
future economic reform
programs.
37 22 U.S.C. IMF policy Treasury shall instruct the No
286ll Oct. concerning USED to promote regularly and
24, 1992 transparency, the vigorously in program and
poor, and the quota increase discussions a
environment variety of policy proposals,
including a proposal designed
to alleviate poverty, promote
policy audits in the areas of
poverty and the environment,
and allow public access to
certain IMF information.
38 22 U.S.C. Measures to reduce The USED shall use his voice No
286mm Oct. military spending and vote to urge the IMF to
24, 1992 continue to develop an
economic methodology to
measure the level of military
spending by every developing
country. The USED shall also
urge the IMF to provide
annual reports that estimate
the level of military
spending by each developing
country and urge the IMF to
include an analysis on this
issue in every Article IV
consultation with such
countries.
39 22 U.S.C. Debt reduction Treasury is authorized to No
286nn Nov. instruct the USED to vote to
29, 1999 approve the sale of gold such
that proceeds can be used
toward debt reduction for the
Heavily Indebted Poor
Countries Initiative and to
support a decision to
terminate the Special
Contingency Account 2 (SCA-2)
and make the funds in the
SCA-2 available to the
poorest countries.
40 22 U.S.C. Short- and It is the policy of the No
286oo Nov. medium-term United States to work to
6, 2000 financing, implement reforms in the IMF
misreporting, and to achieve the following
premium pricing goals: primarily using
short-term
balance-of-payments
financing, limiting the use
of medium-term financing,
introducing premium pricing
for lending that is greater
than 200 percent of a
member's quota in the IMF,
and redressing cases of
misreporting of information
in the context of IMF
programs.
41 22 U.S.C. Integration of Treasury is requested to No
2225 women instruct the USED to
encourage and promote the
Dec. 30, integration of women into the
1974 national economies of IMF
member countries and into
professional positions within
the IMF organization. In
addition, Treasury is to take
any progress or lack of
progress into account when
making contributions to the
IMF.
42 22 U.S.C. Expropriation of Treasury shall instruct the Yes
2370a Apr. U.S. property USED to vote against any use
30, 1994 of IMF funds for the benefit
of any country that has,
after 1956, nationalized or
expropriated U.S. property
without compensation or
adequate arbitration, unless
the funds are directed to
programs that serve the basic
human needs of the citizens
of that country, or the
President waives this
prohibition on the basis of
U.S. national interests.
43 22 U.S.C. East Timor Treasury shall instruct the No
2656 note USED to use the voice, vote,
(Pub. L. No. and influence of the United
107-228, States to support economic
sec. 633, and democratic development in
Sept. 30, East Timor.
2002)
44 22 U.S.C. Nuclear transfers The U.S. government shall Yes
2799aa-1 and illegal exports oppose the extension of any
IMF loan or financial or
Apr. 30, technical assistance to any
1994 country that transfers to a
nonnuclear weapon state a
nuclear explosive device or
any design information or
component for use in the
development or manufacture of
a nuclear explosive device.
Additionally, the U.S.
government shall oppose the
extension of any IMF loan or
financial or technical
assistance to any nonnuclear
weapon state that receives or
detonates a nuclear explosive
device or seeks and receives
any design information or
component for use in the
development or manufacture of
a nuclear explosive device.
The President may waive
application of this section
with respect to India and
Pakistan under certain
conditions. (See Pub. L. No.
106-79, sec. 9001.)
45 22 U.S.C. Sanctions against The United States shall Yes
5605 use of chemical and oppose, in accordance with 22
biological weapons U.S.C. 262d, the extension of
Dec. 4, 1991 any loan or financial or
technical assistance to any
country that the President
determines uses chemical or
biological weapons either in
violation of international
law or against its own
nationals. The President may
waive application of this
section under certain
conditions.
46 22 U.S.C. Opposition to Cuban Treasury shall instruct the Yes
6034 membership USED to use the voice and
vote of the United States to
Mar. 12, oppose admission of Cuba as a
1996 member of the IMF until the
President submits a
determination that a
democratically elected
government is in power in
Cuba.
47 22 U.S.C. Nuclear Treasury shall instruct the Yes
6302 nonproliferation USED to use the voice and
vote of the United States to
Apr. 30, oppose any use of IMF funds
1994 to promote the acquisition of
unsafeguarded special nuclear
material or the development,
stockpiling, or use of any
nuclear explosive device by
any nonnuclear weapon state.
48 22 U.S.C. Religious freedom The President shall instruct Yes
6445 Oct. the USED to oppose and vote
27, 1998 against loans primarily
benefiting a foreign
government, agency,
instrumentality, or official
determined by the President
to be a violator of religious
freedoms.
49 22 U.S.C. U.S. liability, The United States shall Yes
6713 Oct. confidential oppose any IMF loan or
21, 1998 business financial or technical
information, and assistance to any foreign
chemical weapons person, officer, or employee
of the Organization for the
Prohibition of Chemical
Weapons whose actions taken
in the implementation of the
Chemical Weapons Convention
make the United States
liable. The United States
shall also oppose any IMF
loan or financial or
technical assistance to any
foreign person, business
entity, or country that
knowingly encourages or
assists such a person in
disclosing U.S. confidential
business information.
50 22 U.S.C. Tibet Treasury shall instruct the No
6901 note USED to use the voice and
(Pub. L. No. vote of the United States to
107-228, support projects in Tibet, so
sec. 616, long as the projects are
Sept. 30, designed in accordance with
2002) certain enumerated
principles, such as that the
project fosters
self-sufficiency and
self-reliance of Tibetans.
51 22 U.S.C. Combat trafficking The President will instruct Yes
7107 in persons the USED to vote against, and
to use his best efforts to
Oct. 28, deny, any loan or other use
2000 of IMF funds for the
subsequent fiscal year to a
country that fails to comply
or is not making significant
efforts to bring itself into
compliance with the minimum
standards for the elimination
of trafficking in persons. If
certain requirements are met,
this mandate does not apply
to humanitarian assistance,
trade-related assistance, or
development assistance and
can be waived by the
President if the continuation
of assistance is in the
national interest.
52 50 U.S.C. Serbia or Treasury shall instruct the Yes
1701 note Montenegro USED to use the voice and
(Pub. L. No. vote of the United States to
103-160, oppose any IMF assistance to
sec. 1511, the governments of Serbia or
Nov. 30, Montenegro, except for basic
1993 & Pub. human needs or unless a
L. No. proper waiver or
104-208, certification is made.
sec. 540,
Feb. 12,
1996)
53 Pub. L. No. Burma and human Treasury shall instruct the Yes
104-208, rights and USED to vote against any
sec. 570, democratic utilization of IMF funds for
Sept. 30, government Burma until such time as the
1996 President certifies to
Congress that Burma has made
measurable and sustainable
progress in improving human
rights practices and
implementing a democratic
government in Burma, or the
President waives the sanction
by certifying to Congress
that the sanction is contrary
to U.S. national interests.
54 Pub. L. No. IMF operational Treasury shall instruct the No
106-113, budget USED to use the voice, vote,
sec. 504, and influence of the United
Nov. 29, States to urge vigorously the
1999 IMF both to publish the
operational budgets of the
IMF on a quarterly basis, not
later than 1 year after the
end of the period covered by
the budget, and to continue
to forgo reimbursements of
the expenses incurred by the
IMF in administering the
Enhanced Structural
Adjustment Facility, until
the Heavily Indebted Poor
Countries initiative is
terminated.
55 Pub. L. No. Zimbabwe If the President certifies to Yes
107-99, sec. the appropriate congressional
4, Dec. 21, committees that certain
2001 conditions have been met in
Zimbabwe, including the
restoration of the rule of
law and a commitment to
equitable, legal, and
transparent land reform, then
the Treasury should direct
the USED to propose to
undertake financial and
technical support for
Zimbabwe, especially support
that is intended to promote
Zimbabwe's economic recovery
and development, the
stabilization of the
Zimbabwean dollar, and the
viability of Zimbabwe's
democratic institutions.
Until the President makes a
certification, however, and
except as may be required to
meet basic human needs or for
good governance, the Treasury
shall instruct the USED to
oppose and vote against any
IMF loan, credit, or
guarantee to the government
of Zimbabwe or any
cancellation or reduction of
indebtedness owed by the
government of Zimbabwe to the
IMF.
56 Pub. L. No. Sudan After April 10, 2003, and Yes
107-245, every 6 months thereafter, if
sec. 6, Oct. the President certifies that
21, 2002 the government of Sudan has
not engaged in good faith
negotiations to achieve
apermanent and just peace
agreement, or has
unreasonably interfered with
humanitarian efforts in
Sudan, then the Treasury
shall instruct the USED to
continue to vote against, and
actively oppose, any
extension of any IMF loan,
credit, or guarantee to the
government of Sudan.
57 50 U.S.C. Burmese Freedom and Treasury shall instruct the Yes
1701 note Democracy Act USED to oppose and vote
(Pub. L. No. against extending any IMF
108-61, sec. loan or financial or
5, Jul. 28, technical assistance to Burma
2003) until certain conditions are
met, including that the State
Peace and Development Council
has made substantial progress
to end human rights
violations, to implement a
democratic government, and
that Burma is not designated
as a country that has failed
demonstrably to adhere to its
obligations under
international
counternarcotics agreements.
58 Pub. L. No. Lifting of Iraqi Provisions of law that direct No
108-11, sec. Sanctions the U.S. Government to vote
1503, Apr. against or oppose loans or
16, 2003 (as other use of funds in the
amended by IMF, including for financial
Pub. L. No. or technical assistance, for
108-106, Iraq shall not be construed
sec. 2204, as applying to Iraq.
Nov. 6,
2003)
59 Pub. L. No. Belarus Democracy Treasury should instruct the Yes
108-347, Act USED to use the voice and
sec. 5, Oct. vote of the United States to
20, 2004 oppose the extension of any
financial assistance,
including any technical
assistance or grant, to the
government of Belarus, except
for loans and assistance to
serve humanitarian needs.
60 Pub. L. No. Membership and The President, acting through No
108-458, leadership the Secretary of the
sec. 7111, positions Treasury, should use the
Dec. 17, voice, vote, and influence of
2004 the United States to (1)
reform, where appropriate,
the criteria for leadership
and, in appropriate cases,
for membership at the IMF so
as to exclude countries that
violate the principles of the
organization; (2) make it an
IMF policy that a member
country may not stand in
nomination for membership or
in nomination or in rotation
for a significant leadership
position if the country is
subject to sanctions imposed
by the UN Security Council;
and (3) work to ensure that
no member country stands in
nomination for membership or
in nomination or in rotation
for a significant leadership
position if the government
has been determined by the
Secretary of State to have
repeatedly provided support
for acts of international
terrorism.
61 Pub. L. No. Comprehensive Peace Notwithstanding the Yes
108-497 (50 in Sudan Act certification requirement in
U.S.C. 1701 paragraph (1) of Section 6(b)
note), Dec. of the Sudan Peace Act (Pub.
23, 2004 L. No. 107-245), Treasury
shall instruct the USED to
continue to vote against, and
actively oppose, any
extension of any IMF loan,
credit, or guarantee to the
government of Sudan.
62 Pub. L. No. Compensation for No funds appropriated by the No
109-102, the USED Foreign Operations, Export
sec. 501, Financing, and Related
Nov. 14, Programs Appropriations Act,
2005 2006, may be made as payment
to the IMF while the USED is
compensated by the IMF at a
rate that, together with the
compensation the USED
receives from the United
States, is in excess of the
rate provided for an
individual occupying a
position at level IV of the
Executive Schedule under 5
U.S.C. 5315, or while the
alternate U.S. Director is
compensated by the IMF at a
rate in excess of the rate
provided for an individual
occupying a position at level
V of the Executive Schedule
under 5 U.S.C. 5316.
63 Pub. L. No. Trade, mining, and Treasury shall instruct the Yes
109-102, surplus commodities USED to use the voice and
sec. 514, vote of the United States to
Nov. 14, oppose any IMF assistance for
2005 the production or extraction
of any commodity or mineral
for export, if it is in
surplus on world markets and
if the assistance will cause
substantial injury to the
U.S. producers of the same,
similar, or competing
commodity.
64 Pub. L. No. Burma Treasury shall instruct the Yes
109-102, USED to oppose and vote
sec. 526(a), against extending IMF loans
Nov. 14, or financial or technical
2005 assistance or any other
utilization of IMF funds to
and for Burma.
65 Pub. L. No. Countries providing Treasury shall instruct the Yes
109-102, sanctuary to USED to vote against any new
sec. 561, indicted war project involving the
Nov. 14, criminals extension of financial or
2005 technical assistance to any
country whose authorities
have failed, as determined by
the Secretary of State, to
take necessary and
significant steps to
apprehend and transfer to the
International Criminal
Tribunal for the former
Yugoslavia all persons
indicted by the Tribunal and
to otherwise cooperate with
the Tribunal. This section
does not apply to
humanitarian assistance and
assistance for
democratization.
66 Pub. L. No. User fees Treasury shall instruct the Yes
109-102, USED to oppose any loan,
sec. 562, grant, strategy, or policy of
Nov. 14, the IMF that would require
2005 user fees or service charges
on poor people for primary
education or primary health
care, including prevention
and treatment efforts for
Human Immunodeficiency
Virus/Acquired Immune
Deficiency Syndrome, malaria,
tuberculosis, and infant,
child, and maternal
well-being, in connection
with the IMF's financing
program.
67 Pub. L. No. Serbia and After May 31, 2006, Treasury Yes
109-102, Montenegro should instruct the USED to
sec. 563, support loans and assistance
Nov. 14, to the government of Serbia
2005 and Montenegro subject to
certain conditions, including
that the government of Serbia
and Montenegro is taking
steps consistent with the
Dayton Peace Accord to end
financial, political,
security, and other support
that served to maintain
separate Republika Srpska
institutions. With respect to
such loans, 22 U.S.C. 262k-1,
which requires transparency
of military budgets, shall
not apply.
68 Pub. L. No. Extraction and Treasury shall inform the No
109-102, export of natural management of the IMF that it
sec. 585, resources is the policy of the United
Nov. 14, States that the IMF should
2005 not provide assistance for
the extraction and export of
oil, gas, coal, timber, or
other natural resource to any
country unless the government
of the country has in place
or is working to establish
functioning systems to (1)
accurately account for
revenues and expenditures in
connection with the
extraction and export of such
natural resources, (2)
independently audit such
accounts and disseminate the
audits, and (3) verify
government receipts against
company payments and
disseminate such payment
information in a manner that
does not create competitive
disadvantage or disclose
proprietary information.
69 Pub. L. No. Zimbabwe Treasury shall instruct the Yes
109-102, USED to vote against any
sec. 572, extension of any IMF loans to
Nov. 14, the government of Zimbabwe,
2005 except to meet basic human
needs or to promote
democracy, unless the
Secretary of State determines
and certifies to the
Committees on Appropriations
that the rule of law has been
restored in Zimbabwe,
including respect for
ownership and title to
property and for freedom of
speech and association.
70 Pub. L. No. Tibet Treasury should instruct the No
109-102, USED to use the voice and
sec. 575(a), vote of the United States to
Nov. 14, support projects in Tibet, if
2005 the projects do not provide
incentives for migration and
settlement of non-Tibetans
into Tibet or facilitate the
transfer of ownership of
Tibetan land and natural
resources to non-Tibetans;
are based on a thorough
needs-assessment; foster
self-sufficiency of Tibetan
people and respect Tibetan
culture and traditions; and
are subject to effective
monitoring.
Source: GAO.
Notes: The information in this enclosure is based on a GAO analysis of
policy and directed vote legislative mandates concerning the IMF.
Mandates shown in bold represent mandates that were enacted since our last
report in September 2005 and simply replaced older mandates or represent
amendments to mandates.
aTreasury puts mandates in three broad categories: "policy," "directed
vote," and "reporting" mandates. Policy mandates direct the United States
to foster or urge a certain policy at the IMF. Directed vote mandates
instruct the United States to "oppose" or "vote against" loans or other
IMF assistance. Reporting mandates are outside the scope of this report.
bThis column reports the original date of enactment. However, many of
these mandates were amended subsequent to this date.
Enclosure II: Examples of Broad Policies That Are Addressed in Multiple
Lawsa
Broad policy objective Law
Administrative and personnel 22 U.S.C. 2225 (Dec. 30, 1974) 22 U.S.C.
matters 262e (Oct. 3, 1977) 22 U.S.C. 262t (Dec.
19, 1989) 22 U.S.C. 262p-4n (Nov. 5, 1990)
Pub. L. No. 109-102, sec. 501 (Nov. 14,
2005)
Banking 22 U.S.C. 286cc (Nov. 30, 1983) 22 U.S.C.
286dd (Nov. 30, 1983) 22 U.S.C. 262o-2
(Oct. 21, 1998)
Burma Pub. L. No. 104-208, sec. 570 (Sept. 30,
1996)
50 U.S.C. 1701 note (Pub. L. No. 108-61,
sec. 5 (Jul. 28, 2003))
Pub. L. No. 109-102, sec. 526(a) (Nov. 14,
2005)
Debt 22 U.S.C. 286e-8 (Oct. 10, 1978) 22 U.S.C.
286cc (Nov. 30, 1983) 22 U.S.C. 286dd (Nov.
30, 1983) 22 U.S.C. 286ee (Nov. 30, 1983)
22 U.S.C. 262o-2 (Oct. 21, 1998) 22 U.S.C.
286nn (Nov. 29, 1999) 22 U.S.C. 262p-6
(Nov. 29, 1999)
Employment 22 U.S.C. 2225 (Dec. 30, 1974) 22 U.S.C.
286e-9 (Oct. 10, 1978)
Environment 22 U.S.C. 286kk (Dec. 19, 1989) 22 U.S.C.
286ll (Oct. 24, 1992) 22 U.S.C. 262o-2
(Oct. 21, 1998)
Exchange rate stability 22 U.S.C. 286y (Nov. 30, 1983) 22 U.S.C.
262o-2 (Oct. 21, 1998)
Governance 22 U.S.C. 262o-1 (Aug. 23, 1994) 22 U.S.C.
262o-2 (Oct. 21, 1998)
Human rights 22 U.S.C. 262d (Oct. 3, 1977) 22 U.S.C.
262p-4o (Aug. 23, 1994) Pub. L. No.
104-208, Sec. 570 (Sept. 30, 1996)
Investment 22 U.S.C. 286e-9 (Oct. 10, 1978) 22 U.S.C.
286s (Oct. 7, 1980) 22 U.S.C. 286gg (Nov.
30, 1983)
Labor 22 U.S.C. 262p-4p (Aug. 23, 1994) 22 U.S.C.
262o-2 (Oct. 21, 1998)
Poverty alleviation and 22 U.S.C. 286kk (Dec. 19, 1989) 22 U.S.C.
education 286ll (Oct. 24, 1992) 22 U.S.C. 262o-2
(Oct. 21, 1998) 22 U.S.C. 262p-7 (Nov. 29,
1999) Pub. L. No. 109-102, sec. 562 (Nov.
14, 2005)
Military spending and military 22 U.S.C. 286mm (Oct. 24, 1992) 22 U.S.C.
audit 262o-1 (Aug. 23, 1994) 22 U.S.C. 262k-1
(Sept. 30, 1996) 22 U.S.C. 262o-2 (Oct. 21,
1998)
Nuclear and chemical 22 U.S.C. 2799aa-1 (Apr. 30, 1994) 22
nonproliferation U.S.C. 6302 (Apr. 30, 1994) 22 U.S.C. 6713
(Oct. 21, 1998) 22 U.S.C. 5605 (Dec. 4,
1991)
Religious freedom 22 U.S.C. 262d (Oct. 3, 1977) 22 U.S.C.
6445 (Oct. 27, 1998)
Serbia 50 U.S.C. 1701 note (Pub. L. No. 103-160,
sec. 1511 (Nov. 30, 1993) and Pub. L. No.
104-208, sec. 540 (Feb. 12, 1996))
Pub. L. No. 109-102, sec. 563 (Nov. 14,
2005)
Terrorism 22 U.S.C. 262d (Oct. 3, 1977) 22 U.S.C.
286e-11 (Oct. 10, 1978) 22 U.S.C. 262p-4q
(Apr. 24, 1996)
22 U.S.C. 262p-4r (Oct. 26, 2001)
22 U.S.C. 262o-2 (Oct. 21, 1998)
Tibet 22 U.S.C. 6901 note (Pub. L. No. 107-228,
sec. 616 (Sept. 30, 2002))
Pub. L. No. 109-102, sec. 575(a) (Nov. 14,
2005)
Trade 22 U.S.C. 286k (July 31, 1945) 22 U.S.C.
286bb (Nov. 30, 1983) 22 U.S.C. 286cc (Nov.
30, 1983) 22 U.S.C. 286gg (Nov. 30, 1983)
22 U.S.C. 262k (Aug. 15, 1985) 22 U.S.C.
262h (Oct. 15, 1986) 22 U.S.C. 262n-3 (Oct.
21, 1998) 22 U.S.C. 262o-2 (Oct. 21, 1998)
Pub. L. No. 109-102, sec. 514 (Nov. 14,
2005)
Transparency 22 U.S.C. 286z (Nov. 30, 1983) 22 U.S.C.
286ll (Oct. 24, 1992) 22 U.S.C. 262o-2
(Oct. 21, 1998)
Use of IMF resources 22 U.S.C. 286u (Oct. 7, 1980) 22 U.S.C.
286ff (Nov. 30, 1983) 22 U.S.C. 286oo (Nov.
6, 2000)
Women's issues 22 U.S.C. 2225 (Dec. 30, 1974) 22 U.S.C.
262k-2 (Sept. 30, 1996)
Zimbabwe Pub. L. No. 107-99, sec. 4 (Dec. 21, 2001)
Pub. L. No. 109-102, sec. 572 (Nov. 14,
2005)
Source: GAO.
Notes: The information in this enclosure is based on a GAO analysis of
policy and directed vote legislative mandates concerning the IMF.
Mandates shown in bold represent mandates that were enacted since our last
report in September 2005 and simply replaced older mandates or represent
amendments to mandates.
aTreasury puts mandates in three broad categories: "policy," "directed
vote," and "reporting" mandates. Policy mandates direct the United States
to foster or urge a certain policy at the IMF. Directed vote mandates
instruct the United States to "oppose" or "vote against" loans or other
IMF assistance. Reporting mandates are outside the scope of this report.
Enclosure III: Comments from the Department of the Treasury
Enclosure IV: GAO Contacts and Staff Acknowledgments
GAO Contacts
Thomas Melito, Director, (202) 512-9601 or [email protected]
Stephanie J. May, Managing Associate General Counsel, (202) 512-6293 or
[email protected]
Staff Acknowledgments
Cheryl Goodman (Assistant Director), Valerie Leman Nowak, J.J. Marzullo,
Grace Lui, and Debbie J. Chung also made key contributions to this report.
(320433)
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