IMF Reform Act of 2000

Summary

IMF Reform Act of 2000 - Amends the Bretton Woods Agreements Act to require the Secretary of the Treasury to report annually to specified congressional committees on whether the International Monetary Fund has complied with certain requirements, including that the Fund: (1) not charge interest other than the current market interest rate for foreign loans; (2) not make a loan with a maturity date of more than one year; (3) not make a loan except for the purpose of addressing a currency crisis; (4) has abolished its Enhanced Structural Adjustment Facility; (5) is required to, and does, publish each of its operational budgets, with any information that could disrupt financial markets or affect adversely the national security of any country redacted, and is required to, and does, reorganize and restate the publicly available financial statements of the Fund in a manner consistent with the Fund's code of good practices, and with the principles of transparency and accountability; (6) not make a loan to any country that has previously been found to have falsified loan documents; and (7) is required to exhaust, and has exhausted, all feasible opportunities to borrow from the private sector before instituting a quota increase for member countries of the Fund. Declares that the Secretary, if he or she fails to report or if the report fails to certify that the Fund has complied with the requirements of this Act, shall: (1) not make any foreign loans; and (2) cause the reserve tranche position of the United States at the Fund to be maintained at a certain level. Prohibits any U.S. officer or employee from providing any thing of value to the Fund for the purpose of providing resources to, or supporting the activities of the Facility or any other concessional lending facility of the Fund. Requires the U.S. director at the Fund to use every effort to terminate the Enhanced Structural Adjustment Facility.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 February 2000

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• Introduced in House (PDF)

  Introduced in House · EN · 29 February 2000

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• Introduced in House

  summary · EN · 29 February 2000

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