To authorize the United States participation in and appropriations for United States contributions to various international financial institutions, and for other purposes.

Summary

Amends certain Acts to authorize appropriations for: (1) the U.S. contribution to the twelfth replenishment of the International Development Association; (2) the U.S. contribution to the eighth replenishment of the African Development Fund; (3) the United States to subscribe to additional shares of capital stock of the African Development Bank, Inter-American Investment Corporation, and the Multilateral Investment Guarantee Agency; and (4) the U.S. contribution to the Heavily Indebted Poor Countries (HIPC) Trust Fund. Amends the Bretton Woods Agreements Act to authorize the Secretary of the Treasury to instruct the U.S. Executive Director of the International Monetary Fund (IMF) to vote to: (1) approve the sale of up to 10 million ounces of IMF gold and transfer the earnings on the invested profits of such sale to the Trust for Special ESAF Operations for the HIPC and the Interim ESAF Subsidy Operations (ESAF-HIPC Trust Fund); and (2) support a decision that would make available to the ESAF-HIPC Trust Fund the resources in Special Contingency Account 2 (SCA-2) of the IMF derived from the extended burdensharing arrangements adopted pursuant to IMF Decision No. 9471 (90/98), as amended, including any funds attributable to the U.S. participation in such arrangements.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 July 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 14 July 1999

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• Introduced in House

  summary · EN · 14 July 1999

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