[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2731 Introduced in House (IH)]


104th CONGRESS
  1st Session
                                H. R. 2731

To require the United States to oppose and vote against any proposal to 
   create any financing mechanism designed to prevent or resolve the 
                    insolvency of sovereign nations.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 1995

     Mr. Solomon (for himself, Mr. Rohrabacher, and Mr. Traficant) 
 introduced the following bill; which was referred to the Committee on 
                     Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
To require the United States to oppose and vote against any proposal to 
   create any financing mechanism designed to prevent or resolve the 
                    insolvency of sovereign nations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. OPPOSITION OF UNITED STATES TO INTERNATIONAL BAILOUT FUND.

    Title XV of the International Financial Institutions Act (22 U.S.C. 
262o) is amended by inserting after section 1501 the following:

``SEC. 1502. OPPOSITION TO CREATION OF AN INTERNATIONAL BAILOUT FUND.

    ``The Secretary of the Treasury shall instruct the United States 
Executive Director of each international financial institution (as 
defined in section 1701(c)(2)) to use the voice and vote of the United 
States to oppose the creation of any financing mechanism designed to 
prevent or resolve the insolvency of sovereign nations.''.
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