2015 US Code
Title 22 - Foreign Relations and Intercourse (Sections 1 - 9141)
Chapter 7 - International Bureaus, Congresses, Etc. (Sections 261 - 290q)
Subchapter XV - International Monetary Fund and Bank for Reconstruction and Development (Sections 286 - 286xx)
Sec. 286y - Promoting conditions for exchange rate stability
Publication Title | United States Code, 2012 Edition, Supplement 3, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC. SUBCHAPTER XV - INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT Sec. 286y - Promoting conditions for exchange rate stability |
Contains | section 286y |
Date | 2015 |
Laws In Effect As Of Date | January 3, 2016 |
Positive Law | No |
Disposition | standard |
Source Credit | July 31, 1945, ch. 339, §40, as added Pub. L. 98-181, title I [title VIII, §801], Nov. 30, 1983, 97 Stat. 1267. |
Statutes at Large Reference | 97 Stat. 1267 |
Public and Private Law | Public Law 98-181 |
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(a) In order to help assure that the resources provided under section 286e–1i of this title are used to support pro-growth policies which will help establish the economic conditions necessary for more appropriate financial and exchange rate alignment and stability, it is the sense of Congress that the Secretary of the Treasury shall—
(1) in consultation with the Secretary of State and the United States Trade Representative, initiate discussions with other countries regarding the economic dislocations which result from structural exchange rate imbalances; and
(2) instruct the United States Executive Director of the Fund to work for adoption of policies in the Fund, both within the framework of article IV (of the Articles of Agreement of the Fund) consultations and with respect to the conditions associated with Fund-supported balance of payments adjustments programs, which promote conditions contributing to the stability of exchange rates and avoid the manipulation of exchange rates between major currencies. Among other initiatives, the Secretary of the Treasury shall propose strengthening the article IV consultation procedures of the Fund to attempt to ensure that countries which are artificially maintaining undervalued or overvalued rates of exchange agree to adopt market determined exchange rates.
(b) In determining his vote on extensions of assistance to any Fund borrower, the United States Executive Director of the Fund shall take into account whether such borrower's policies are consistent with the requirements of article IV of the Articles of Agreement of the Fund.
(July 31, 1945, ch. 339, §40, as added Pub. L. 98–181, title I [title VIII, §801], Nov. 30, 1983, 97 Stat. 1267.)
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