[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2851 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 2851

 To direct the United States Executive Directors at the International 
Bank for Reconstruction and Development and the International Monetary 
 Fund to encourage their respective institutions to require countries 
 receiving assistance from such institutions to use the portion of the 
assistance attributable to United States contributions to obtain goods 
              and services produced in the United States.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 14, 1999

 Mr. Andrews introduced the following bill; which was referred to the 
              Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
 To direct the United States Executive Directors at the International 
Bank for Reconstruction and Development and the International Monetary 
 Fund to encourage their respective institutions to require countries 
 receiving assistance from such institutions to use the portion of the 
assistance attributable to United States contributions to obtain goods 
              and services produced in the United States.

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

SECTION 1. USE OF VOICE AND VOTE OF THE UNITED STATES TO ENCOURAGE THE 
              WORLD BANK AND THE IMF TO REQUIRE COUNTRIES RECEIVING 
              WORLD BANK OR IMF ASSISTANCE TO USE THE PORTION OF THE 
              ASSISTANCE ATTRIBUTABLE TO UNITED STATES CONTRIBUTIONS TO 
              OBTAIN GOODS AND SERVICES PRODUCED IN THE UNITED STATES.

    Title XVIII of the International Financial Institutions Act (22 
U.S.C. 262s-262s-2) is amended by adding at the end the following:

``SEC. 1803. USE OF VOICE AND VOTE OF THE UNITED STATES TO ENCOURAGE 
              THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT 
              AND THE INTERNATIONAL MONETARY FUND TO REQUIRE COUNTRIES 
              RECEIVING WORLD BANK OR IMF ASSISTANCE TO USE THE PORTION 
              OF THE ASSISTANCE ATTRIBUTABLE TO UNITED STATES 
              CONTRIBUTIONS TO OBTAIN GOODS AND SERVICES PRODUCED IN 
              THE UNITED STATES.

    ``The Secretary of the Treasury shall instruct the United States 
Executive Directors at the International Bank for Reconstruction and 
Development and the International Monetary Fund to use the voice and 
vote of the United States to encourage their respective institutions to 
require, as a condition of providing a loan, grant, or other financial 
assistance to the government of a country, that the country use not 
less than 18 percent of such assistance to obtain United States goods 
and services. In the preceding sentence, the term `goods and services' 
does not include any interest in a financial instrument or the 
reduction or cancellation of any obligation of the country to the 
United States Government or any United States person.''.
                                 <all>