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United States · Bill · S

S. 2334 (105th)

International Monetary Fund Appropriations Act of 1998

openUnited States· United States Congress· EN

Introduced

21 July 1998

Last action

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Status

Returned to the Calendar. Calendar No. 482. (consideration: CR S12937)

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7 April 2025

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Summary

TABLE OF CONTENTS: Title I: Export and Investment Assistance Title II: Bilateral Economic Assistance Title III: Military Assistance Title IV: Multilateral Economic Assistance Title V: General Provisions Title VI: Multilateral Economic Assistance Foreign Operations, Export Financing, and Related Programs Appropriations Act, 1999 - Title I: Export and Investment Assistance - Makes appropriations for FY 1999 for: (1) direct loans, loan guarantees, tied-aid grants, insurance, and administrative expenses under Export-Import Bank programs (with a bar on such assistance for enterprises or programs in the New Independent States (of the former Soviet Union) which are majority-owned or -managed by state entities); (2) Overseas Private Investment Corporation (OPIC) direct and guaranteed loans and administrative expenses (limiting the availability of certain funds until OPIC reports to the Committees on Appropriations on measures taken to establish sector specific investment funds, including regional investment initiatives in Georgia, Armenia, and Azerbaijan through the Caucasus Fund); and (3) the Trade and Development Agency. Title II: Bilateral Economic Assistance - Makes appropriations for FY 1999 for: (1) expenses of the President in carrying out certain programs under the Foreign Assistance Act of 1961; (2) the Agency for International Development (AID) for specified development assistance (earmarking up to certain amounts for the Inter-American Foundation and the African Development Foundation); (3) specified projects aimed at reunification of Cyprus; (4) democracy and humanitarian activities in Burma; (5) economic assistance and development assistance for Indonesia; (6) economic assistance and development assistance for research, conservation, training and related activities for the Province of the Galapagos Islands, Ecuador (Mitch McConnell Conservation Fund); (7) international disaster assistance; (8) Department of the Treasury international affairs technical assistance activities; (9) debt restructuring; (10) micro and small enterprise development programs; (11) the urban and environmental credit program account; (12) private and voluntary organizations that receive 20 percent or more of their funding from non-Federal sources; (13) the Foreign Service Retirement and Disability Fund; (14) operating expenses of AID and the AID Office of Inspector General; (15) Economic Support Fund (ESF) assistance (earmarking amounts for Israel, Egypt, and Jordan, and victims of and programs related to the Holocaust); (16) economic assistance for Eastern Europe and the Baltic States (earmarking amounts for Bosnia and Herzegovina, subject to specified conditions); (17) assistance for the New Independent States of the former Soviet Union (earmarking amounts for the Ukraine, with certain conditions, Georgia, Armenia, and Mongolia); (18) the Peace Corps (but no funds for abortions); (19) international narcotics control (earmarking amounts for Law Enforcement Training and Demand Reduction and for the operation of the International Law Enforcement Academy for the Western Hemisphere at the deBremmond Training Center in Roswell, New Mexico); (20) migration and refugee assistance (earmarking amounts for refugees from the former Soviet Union and Eastern Europe and other refugees resettling in Israel); (21) the Emergency Refugee and Migration Assistance Fund; and (22) nonproliferation, anti-terrorism, demining and related programs and activities (specifying conditions on funds for the Korean Peninsula Energy Development Organization (KEDO)). Bars the use of development assistance funds for: (1) coercive abortions or involuntary sterilizations; and (2) U.S. private and voluntary organizations which obtain less than 20 percent of annual funding from sources other than the U.S. Government. Bars the use of funds for activities and programs for Cambodia until the Secretary of State determines and reports to the Committees on Appropriations that Cambodia has held free and fair elections. Prohibits the availability of funds to: (1) Azerbaijan until the President reports to the Congress that it is taking steps to cease all blockades and other offensive uses of force against Armenia and Nagorno-Karabakh; and (2) Russia unless the President certifies to the Committees on Appropriations that it has terminated arrangements to provide Iran with technology to develop a nuclear program, or ballistic missiles. Title III: Military Assistance - Makes appropriations for FY 1999 for: (1) international military education and training assistance (IMET) (with conditions on the use of funds by Guatemala); (2) foreign military financing and direct loans (earmarking amounts for Israel, Egypt, Jordan, Estonia, Latvia, Lithuania, Tunisia, and Poland, Hungary, and the Czech Republic (for integration into the North Atlantic Treaty Organization (NATO)); and (3) international peacekeeping operations (subject to obligation only through the notification procedures of the Committees on Appropriations). Prohibits foreign military financing for Sudan, Liberia, and Guatemala. Title IV: Multilateral Economic Assistance - Makes appropriations for FY 1999 for the U.S. contribution to the: (1) International Development Association; (2) Inter-American Development Bank; (3) Asian Development Bank; and (4) European Bank for Reconstruction and Development. Makes appropriations for FY 1999 for international programs and organizations. Sets certain restrictions on international organization funding, including prohibiting the use of funds for the United Nations Fund for Science and Technology. Prohibits the use of funds for the KEDO or the International Atomic Energy Agency (IAEA). Title V: General Provisions - Sets forth limits on the use of appropriations, including no more than specified maximums for official residence expenses, entertainment expenses, and representation allowances for AID, and for entertainment and representation allowances for the Inter-American Foundation and the Trade and Development Agency. Limits the use of funds for entertainment expenses of the Peace Corps, or under IMET. (Sec. 502) Prohibits the use of funds for: (1) bilateral funding of international financial institutions; (2) the export of nuclear equipment, fuel, or technology (except for nuclear safety purposes); (3) direct assistance or reparations to Cuba, Iraq, Libya, North Korea, Iran, Sudan, or Syria; (4) assistance to any country whose duly elected head of government is deposed by military coup or decree; (5) certain transfers between appropriations accounts without presidential consultation with the Congress; (6) assistance to any country in default in excess of a year on payments on a U.S. loan (except for Nicaragua and narcotics-related assistance for Colombia, Bolivia, and Peru); and (7) assistance for certain commodities likely to be in surplus on world markets if it will cause substantial injury to U.S. producers of a similar commodity. (Sec. 514) Directs the Secretary of the Treasury to instruct the U.S. Executive Directors of specified international financial institutions to oppose any assistance for the production or extraction of any commodity or mineral for export if it is in surplus on world markets and such assistance will cause substantial injury to U.S. producers of a similar commodity. (Sec. 516) Prohibits the availability of international organization funds, at the President's discretion, for certain Communist countries. (Sec. 517) Declares it is U.S. policy that appropriations for ESF funds allocated to Israel shall not be less than the annual debt repayment from Israel to the United States. (Sec. 518) Prohibits the use of development assistance funds for abortions or involuntary sterilizations as methods of family planning or to motivate or coerce any person to practice abortions, or provide any financial incentive to undergo sterilization. (Sec. 519) Declares that nongovernmental and multilateral organizations shall not be subjected to requirements more restrictive than requirements for foreign governments in determining eligibility for population planning assistance. (Sec. 520) Directs the President to report to the appropriate congressional committees on the cultivation, production, and transshipment of opium by North Korea (and annually thereafter as part of the International Narcotics Control Strategy Report under the Foreign Assistance Act of 1961). (Sec. 521) Prohibits the use of funds for Colombia, India, Haiti, Liberia, Pakistan, Serbia, Sudan, or the Democratic Republic of Congo, except through the regular notification procedures of the Committees on Appropriations. (Sec. 523) Makes funds available to AID for family planning, health, child survival, and basic education and AIDS research and control in developing countries. (Sec. 524) Bars funding for indirect assistance to Cuba, Iraq, Libya, Iran, Syria, North Korea, or China unless the President certifies that the withholding of such funds is contrary to U.S. national security interests. (Sec. 525) Amends the Arms Export Control Act to extend the President's waiver authority with respect to reciprocal leasing through the current year. (Sec. 526) Requires the Department of Defense (DOD) to notify the Committees on Appropriations before providing excess DOD articles to certain NATO and major non-NATO countries. (Sec. 528) Prohibits bilateral assistance funds to any country which the President determines grants sanctuary from prosecution to any individual or group which has committed an act of international terrorism or otherwise supports such activities. Authorizes a waiver by the President for national security and humanitarian reasons, requiring notification to the Committees on Appropriations. (Sec. 529) Authorizes the commercial leasing of defense articles (instead of government-to-government sale) to Israel, Egypt, NATO, and major non-NATO allies if the President determines that there are compelling foreign policy or national security reasons. (Sec. 530) Requires all AID contracts and subcontracts to include a clause requiring that U.S. insurance companies have a fair opportunity to bid when insurance is necessary or appropriate. (Sec. 531) Prohibits U.S. sale of Stinger missiles in the Persian Gulf region, with certain exceptions. (Sec. 532) Authorizes nongovernmental organizations which are AID grantees or contractors to place funds made available to them under this Act in interest bearing accounts in order to enhance their participation in economic activities under the Foreign Assistance Act of 1961, including endowments and debt-for-development and debt-for-nature exchanges. (Sec. 535) Bars assistance to any country that is not in compliance with the United Nations (UN) sanctions against Iraq, unless the President certifies to the Congress that such assistance: (1) is in the national interest; (2) will directly benefit the needy people in that country; or (3) will be humanitarian assistance for foreign nationals who have fled Iraq and Kuwait. (Sec. 537) Declares that provisions under this or any other Act authorizing appropriations for foreign operations or export financing shall not be construed to prohibit activities authorized by the Peace Corps Act, the Inter-American Foundation Act, or the African Development Foundation Act. (Sec. 538) Prohibits the use of funds to provide: (1) any financial incentive to induce a business to relocate outside the United States if it will reduce the number of employees in the United States; (2) assistance for establishing or developing in a foreign country an export processing zone or other designated area in which a country's tax, tariff, labor, environment, and safety laws do not apply to activities in the area, unless the President certifies that such assistance is not likely to cause a loss of U.S. jobs; or (3) assistance for any project that contributes to the violation of internationally recognized workers rights in the recipient country. (Sec. 539) Declares that no sanction, prohibition, or restriction against Serbia or Montenegro shall cease to be effective, unless the President certifies to the Congress there is substantial progress toward self-determination in Kosova and substantial improvement in the human rights situation there. (Sec. 540) Declares that funds appropriated under this Act for Afghanistan, Lebanon, and for victims of war, displaced children, displaced Burmese, humanitarian assistance for Romania, and humanitarian assistance for the peoples of Kosova, may be made available notwithstanding any other provision of law. Authorizes the use of foreign assistance funds to support tropical forestry and biodiversity conservation activities. Authorizes AID to employ personal services contractors to administer programs for the West Bank and Gaza. (Sec. 541) Expresses the sense of the Congress with respect to: (1) immediate public renunciation by Arab League countries of the boycott of Israel and American firms having commercial ties with Israel; and (2) steps the President should take to encourage such renunciation. (Sec. 542) Authorizes the use of ESF funds to strengthen the administration of justice in countries in Latin America, the Caribbean, and in other regions. (Sec. 543) Declares that restrictions on assistance to foreign countries contained in this Act or any other Act (except those relating to international terrorism or human rights violations) shall not be construed to restrict assistance: (1) in support of certain programs of nongovernmental organizations; or (2) under the Agricultural Trade Development and Assistance Act of 1954. (Sec. 544) Authorizes the reprogramming of earmarked appropriations for other programs within the same account, provided certain requirements are met. (Sec. 546) Prohibits the use of funds for publicity or propaganda purposes within the United States that were not authorized before the enactment of this Act. (Sec. 547) Declares that, to the maximum extent possible, assistance provided under this Act should make full use of American resources, including commodities, products, and services. Expresses the sense of the Congress that, to the greatest extent practicable, all equipment and products purchased with funds under this Act should be American-made. Requires Federal agency heads, in providing financial assistance to or entering into any contract with any entity using funds made available in this Act, to notify such entity of this intention. (Sec. 548) Prohibits the use of funds to pay any assessments, arrearages, or dues of any UN member. (Sec. 550) Prohibits the provision of funds to a private voluntary organization that fails to provide any document, file, or record necessary to the auditing requirements of AID. (Sec. 551) Prohibits the provision of funds to any foreign government that provides lethal military equipment to a country determined to have a terrorist government, unless it is in the U.S. national interest. (Sec. 552) Withholds assistance to a foreign country in an amount equal to 110 percent of the total unpaid parking fines and penalties owed by the country to the District of Columbia. (Sec. 553) Prohibits the obligation of any appropriations for the Palestine Liberation Organization (PLO) for the West Bank and Gaza unless the President has exercised certain authorities to suspend prohibitions on assistance to the PLO. (Sec. 554) Permits the President to provide up to a specified amount of commodities and services to the UN War Crimes Tribunal if doing so will contribute to a just resolution of charges regarding genocide or other violations of international law in the former Yugoslavia. (Sec. 555) Declares it is the policy of the U.S.Government to sign the Convention on the Prohibition of the Use, Stockpiling, Production and Transfer of Anti-Personnel Mines and on Their Destruction as soon as practicable. Authorizes disposal on a grant basis in foreign countries of demining equipment used in support of the clearing of land mines and unexploded ordnance for humanitarian purposes. (Sec. 556) Prohibits the obligation of appropriations to create in Jerusalem a new U.S. agency office for the purpose of conducting U.S. business with the Palestinian Authority over Gaza and Jericho (or any successor Palestinian governing entity) provided for in the Israel-PLO Declaration of Principles. (Sec. 557) Prohibits the obligation of certain funds appropriated for Informational Program activities to pay for: (1) alcoholic beverages; (2) food (other than food provided at a military installation) not provided in conjunction with Informational Program trips where students do not stay at a military installation; or (3) entertainment expenses for recreational activities. (Sec. 558) Authorizes the President to reduce amounts owed to the United States by eligible countries as a result of: (1) housing guarantees made under the Foreign Assistance Act of 1961; or (2) credits extended or guarantees issued under the Arms Export Control Act. Allows exercise of such debt reduction authority only with respect to countries with heavy debt burdens that are eligible to borrow from the International Development Association but not from the International Bank for Reconstruction and Development (IDA-only countries). Specifies further conditions on the exercise of such authority. (Sec. 559) Authorizes the President to engage in certain debt buybacks or sales. Authorizes sale, reduction, or cancellation of certain loans to foreign governments, upon receipt of payment from an eligible purchaser that plans to use such loans only for the purposes of engaging in debt-for-equity swaps, debt-for-development swaps, or debt-for-nature swaps. Limits such authority to funds appropriated by this Act under the heading of debt restructuring. (Sec. 560) Prohibits provision to the Government of Haiti of any funds appropriated by this Act until the President reports to specified congressional committees that such Government: (1) has completed privatization of (or placed under long-term private management or concession) three major public entities; (2) has re- signed the bilateral Repatriation Agreement with the United States (and that in the six months preceding such report it has been cooperating with the United States in halting illegal emigration from Haiti); (3) is conducting thorough investigations of extrajudicial and political killings; (4) is cooperating with U.S. authorities in such investigations; (5) has taken action to remove from the Haitian National Police, national palace and residential guard, ministerial guard, and any other public security entity individuals who have committed human rights violations; and (6) has ratified in the Haitian National Assembly the counter-narcotics agreements signed in October 1997. Makes such prohibition inapplicable to humanitarian or counter narcotics assistance, or support for the Haitian National Police's Special Investigations Unit, the International Criminal Investigative Assistance Program (ICITAP), or anti-corruption programs for the Haitian National Police. Authorizes the availability of appropriations to support elections in Haiti when the President reports to the Congress that the Government of Haiti: (1) has achieved a transparent settlement of the contested April 1997 elections; and (2) has made progress on the constitution of a provisional election council with the agreement of a broad spectrum of political parties, alliances and party conferences, not to be limited to factions of the Lavalas movement. Authorizes appropriations for the development and support of political parties in Haiti. Authorizes the President to waive the requirements under this section on a semiannual basis upon determination and certification to the appropriate congressional committees that it is in the U.S. national interest. (Sec. 561) Requires a specified annual report of the Secretary of State containing the voting record of each foreign member country of the UN to include a side-by-side comparison of each country's overall support for the United States at the UN and the amount of U.S. assistance provided to it in FY 1998. (Sec. 562) Requires the Secretary of Labor to report to the Committees on Appropriations on labor practices in Burma. (Sec. 563) Makes the Government of Haiti eligible to purchase U.S. defense articles and services for the civilian-led Haitian National Police and Coast Guard. (Sec. 564) Prohibits the use of funds to the security forces of a foreign country if the Secretary of State believes they have committed gross violations of human rights, unless the Secretary reports to the Committees on Appropriations that such country is taking steps to bring the responsible persons to justice. (Sec. 565) Requires U.S. opposition to loans to the Government of Cambodia by international financial institutions unless: (1) Cambodia has held free and fair elections; (2) during the 12 months before such elections, no candidate of any opposition party was murdered; (3) all political candidates were permitted freedom of speech, assembly, and equal access to the media; (4) voter registration and participation rates did not exceed the eligible population in any region; (5) refugees and overseas Cambodians were permitted to vote; (6) the Central Election Commission was composed of representatives from all parties; and (7) international monitors were accorded appropriate access to polling sites. (Sec. 566) Requires that any agreement between the United States and the Government of Indonesia for the sale of lethal weapons shall state that such items will not be used in East Timor. (Sec. 567) Prohibits the United States from paying any voluntary or assessed contributions to the UN, including the UN Development Program, unless the President certifies to the Congress 15 days in advance of such payment that the UN is not engaged in any efforts to implement or impose any taxation on U.S. persons in order to raise revenue. (Sec. 568) Requires bilateral and multilateral assistance sanctions (except with respect to certain humanitarian, democratization, and related assistance) against countries harboring war criminals indicted with respect to the former Yugoslavia. Prohibits assistance for any project in which an indicted war criminal is known to have any financial or material interest. Provides a waiver of such prohibitions if the Secretary of State provides a determination to specified congressional committees that such assistance directly supports the implementation of the Dayton Agreement and its Annexes, which include the obligation to apprehend and transfer indicted war criminals to the International Criminal Tribunal for the Former Yugoslavia. Provides a limited waiver of such prohibitions with respect to any project of assistance for Brcko and Banja Luka if certain conditions are met. (Sec. 569) Authorizes for FY 1998 and 1999 the use of DOD funds for crating, packing, handling, and transportation of excess defense articles to countries that are eligible to participate in the Partnership for Peace and that are eligible for assistance under the Support for East European Democracy (SEED) Act of 1989. (Sec. 570) Makes funds available for FY 1999 for defense article stockpiles in foreign countries, including the Republic of Korea and Thailand. (Sec. 571) Prohibits the use of funds for the Government of the Russian Federation unless the President certifies to specified congressional committees that the Federation has not enacted laws or promulgated executive orders that discriminate against religious minorities in violation of international agreements on human rights and religious freedoms to which it is a party. (Sec. 572) Directs the President to provide: (1) to the Congress an account of all Federal agency obligations and expenditures for climate change programs and activities (domestic and international) for FY 1998 and 1999; and (2) any plan for programs thereafter in the context of negotiations to amend the Framework Convention on Climate Change (FCCC) in conjunction with the submission of the Budget of the U.S. Government for FY 2000. (Sec. 573) Directs the President to withhold a specified amount of foreign assistance funds (except development or humanitarian assistance) from countries that violate any UN sanction against Libya. (Sec. 574) Bars funds to the Government of the Democratic Republic of Congo until the President reports to the Congress that it is cooperating fully with investigators from the UN or any other international relief organizations in accounting for human rights violations committed there or in adjacent countries. (Sec. 576) Prohibits assistance for a Government of the New Independent States of the former Soviet Union unless it is making progress in implementing comprehensive economic reforms based on market principles, private ownership, respect for commercial contracts, and equitable treatment of foreign private investment. Prohibits assistance to such a Government, furthermore, if it: (1) applies or transfers U.S. assistance to any entity for the purpose of expropriating or seizing ownership or control of assets, investments, or ventures; or (2) directs any action in violation of the sovereignty of any other new independent state. Prohibits any assistance to enhance such a Government's military capability. Prohibits assistance to Russia until the Secretary of State certifies that agreement has been reached with it that such assistance is not taxed nor is subject to taxation. (Sec. 577) Amends the Foreign Assistance Act of 1961 to require the publication in the Federal Register of each required notice to the Congress of the transfer of certain excess defense articles to a foreign country. Requires the publication of only a statement that the Congress has been so notified in cases where the President concludes publication would be harmful to the national security of the United States. (Sec. 579) Requires the inclusion of specified additional information in a mandatory annual report by the Chairman of the National Advisory Council on International Monetary and Financial Policies regarding U.S. participation in international financial institutions. (Sec. 580) Prohibits the obligation of funds to the Palestinian Authority, subject to waiver on the grounds of U.S. national security interests. Title VI: Multilateral Economic Assistance - International Monetary Fund Appropriations Act of 1998 - Makes supplemental appropriations for FY 1998 for the U.S. contribution to: (1) the International Bank for Reconstruction and Development (World Bank); (2) the Inter-American Development Bank; (3) the Enterprise for the Americas Multilateral Investment Fund; and (4) the Asian Development Fund. Makes supplemental appropriations for FY 1998 for: (1) loans to the International Monetary Fund (IMF) under the New Arrangements to Borrow (equivalent to a specified amount of Special Drawing Rights); and (2) an increase in the U.S. IMF quota of Special Drawing Rights. Authorizes the use for the New Arrangements to Borrow of a specified amount of previously appropriated IMF Special Drawing Rights for the General Arrangements to Borrow. (Sec. 601) Prohibits funds appropriated for the U.S. IMF quota from being obligated, transferred, or made available to the IMF until 30 days after the Secretary of the Treasury certifies, to the appropriate congressional committees, that the major IMF shareholders, including the United States, Japan, the Federal Republic of Germany, France, Italy, the United Kingdom, and Canada have agreed to, and will seek to implement in the IMF, policies that provide for conditions in stand-by agreements or other arrangements regarding the use of IMF resources, requiring that the recipient country: (1) liberalize restrictions on trade in goods and services and on investment, at a minimum consistent with the terms of all international trade obligations and agreements; and (2) eliminate the practice or policy of government directed lending on non-commercial terms or provision of market distorting subsidies to favored industries, enterprises, parties, or institutions. Directs the United States to exert its influence with the IMF and its members to encourage it to include as part of its conditions of stand-by agreements or other uses of the IMF's resources that the recipient country take action to remove discriminatory treatment between foreign and domestic creditors in its debt resolution proceedings. Directs the United States to exert its influence with the IMF and its members to encourage it to include as part of its conditions of assistance that the recipient country take action to adopt modern insolvency (bankruptcy) laws that meet specified goals. (Sec. 602) Directs the Secretary of the Treasury to certify to the appropriate congressional committees that the IMF Board has agreed to provide timely access (transparency) by the Comptroller General to information and documents relating to IMF operations, program and policy reviews, and decisions regarding stand-by agreements and other uses of its resources. Requires the Secretary of the Treasury to direct, and the IMF U.S. Executive Director to agree, to provide access by the Comptroller General to IMF documents, information, and operations. (Sec. 603) Directs the President to establish an International Financial Institution Advisory Commission, which shall report to the appropriate congressional committees on the future role and responsibilities, if any, of the IMF and the merit, costs and related implications of consolidation of the organization, management, and activities of the IMF, the World Bank, and the World Trade Organization (WTO). (Sec. 604) Directs the President to call for a Bretton Woods Conference of representatives of the member countries of the IMF, the World Bank, and the WTO to consider their structure, management and activities, their possible merger, and their capacity to contribute to exchange rate stability and economic growth and to respond effectively to financial crises. (Sec. 605) Requires the Secretary of the Treasury, following extension of a stand-by agreement or other uses of resources by the IMF, to report to the appropriate congressional committees specified information about: (1) borrower's rules and regulations; (2) the burden shared by private sector investors and creditors, including commercial banks in the Group of Seven Nations, in the losses which have prompted the use of IMF resources; (3) IMF strategy, plan and timetable for completing the borrower's payback of IMF resources; and (4) the status of efforts to upgrade the borrower's national standards to meet the Basle Committee's Core Principles for Effective Banking Supervision. (Sec. 606) Directs the Secretary of the Treasury, before the release of IMF funds to a borrower country, to certify to the appropriate congressional committees that certain conditions have been met, including: (1) no IMF resources have resulted in support to the semiconductor, steel, automobile, or textile and apparel industries; (2) the IMF has not guaranteed or underwritten the private loans of such industries; and (3) IMF and Department of the Treasury officials have monitored the implementation of stabilization programs in effect after July 1, 1997, and all of the conditions have either been met, or the recipient government has committed itself to fulfill these conditions according to an approved timetable for completion. Requires that such certifications be made 14 days before any IMF resources are disbursed to the borrower. Directs the Secretary of the Treasury to instruct the U.S. Executive Director of the IMF to use his or her voice to oppose disbursement of further funds if such certification is not given. Directs the Secretary of Commerce to establish a team of Department of Commerce employees to: (1) collect data on import volumes and prices, and statistics in certain industries; (2) monitor the effect of the Asian economic crisis on such industries; (3) collect accounting data from Asian producers; and (4) work to prevent import surges in such industries or to assist U.S. industries affected by such surges in their efforts to protect themselves under U.S. trade laws. (Sec. 607) Directs the Secretary of the Treasury to instruct the U.S. Executive Director of the IMF to use the U.S. vote to: (1) prevent the extension of IMF resources directly to or for the direct benefit of the President of Indonesia or any member of the President's family; and (2) oppose further disbursement of funds to Indonesia on any IMF terms or conditions less stringent than those imposed on the Republic of Korea and the Philippines Republic. (Sec. 608) Directs the Secretary of the Treasury to instruct the U.S. Executive Director of the IMF to use the U.S. 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. (Sec. 609) Directs the Secretary of the Treasury to establish an IMF Advisory Committee to meet with him or her to review and provide advice on the extent to which individual IMF country programs meet certain requisite policy goals. (Sec. 610) Directs the Secretary of the Treasury to consult with the office of the U.S. Trade Representative before instructing the U.S. Executive Director of the IMF on the U.S. position regarding loans or credits to prospective IMF borrower countries.

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