Treasury Continues to Maintain Its Formal Process to Promote U.S.
Policies at the International Monetary Fund (14-SEP-05,
GAO-05-1015R).
Over the years, Congress has shown extensive interest in
legislating U.S. policies regarding the International Monetary
Fund (IMF). Currently, the administration is charged with
responding to dozens of legislative mandates related to the IMF
including advocacy for certain IMF policies, instructions for
U.S. voting positions on IMF assistance to borrower countries,
and requirements to report to Congress on various aspects of U.S.
participation in the IMF. In 2003 and 2004, we reported that the
United States had maintained nearly 70 legislative mandates
prescribing U.S. policy goals at the IMF. These mandates covered
a wide range of policies, including policies regarding combating
terrorism, human rights, international trade, and weapons
proliferation. As an international organization, the IMF is
generally exempt from U.S. law. However, Congress can seek to
influence IMF policy by directing the Secretary of the Treasury
to instruct the U.S. Executive Director to pursue certain policy
considerations or to vote in a particular way on IMF programs or
on assistance to specific countries, as part of the Director's
duties within the IMF's Executive Board. In 2000, Congress
directed us to assess the Department of the Treasury's (Treasury)
efforts in advancing U.S. legislative mandates at the IMF. The
Consolidated Appropriations Act for Fiscal Year 2000 requires us
to report annually on the extent to which IMF practices are
consistent with U.S. policies as set forth in federal law. In
January 2001, we reported that Treasury instituted a formal
process in 1999 to systematically promote congressionally
mandated policies at the IMF. We also found that, although
Treasury had had some influence over IMF policies, it was
difficult to attribute the adoption of a policy within the IMF
solely to the efforts of any one member, because the IMF
generally makes decisions on the basis of consensus. In February
2003 and July 2004, we provided updates on (1) the status of the
U.S. Treasury's process for advancing congressional mandates at
the IMF and (2) the number of U.S. legislative mandates
concerning the IMF. This report provides a similar update for
2005.
-------------------------Indexing Terms-------------------------
REPORTNUM: GAO-05-1015R
ACCNO: A36739
TITLE: Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies at the International Monetary Fund
DATE: 09/14/2005
SUBJECT: Federal law
Foreign policies
International organizations
Reporting requirements
Monetary policies
Legislation
Economic policies
Policy evaluation
International Monetary Fund
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GAO-05-1015R
United States Government Accountability Office Washington, DC 20548
September 14, 2005
Congressional Committees
Subject: Treasury Continues to Maintain Its Formal Process to Promote U.S.
Policies at the International Monetary Fund
Over the years, Congress has shown extensive interest in legislating U.S.
policies regarding the International Monetary Fund (IMF). Currently, the
administration is charged with responding to dozens of legislative
mandates related to the IMF including advocacy for certain IMF policies,
instructions for U.S. voting positions on IMF assistance to borrower
countries, and requirements to report to Congress on various aspects of
U.S. participation in the IMF.
In 2003 and 2004, we reported that the United States had maintained nearly
70 legislative mandates prescribing U.S. policy goals at the IMF. These
mandates covered a wide range of policies, including policies regarding
combating terrorism, human rights, international trade, and weapons
proliferation. As an international organization, the IMF is generally
exempt from U.S. law. However, Congress can seek to influence IMF policy
by directing the Secretary of the Treasury to instruct the U.S. Executive
Director to pursue certain policy considerations or to vote in a
particular way on IMF programs or on assistance to specific countries, as
part of the Director's duties within the IMF's Executive Board.1
In 2000, Congress directed us to assess the Department of the Treasury's
(Treasury) efforts in advancing U.S. legislative mandates at the IMF. The
Consolidated Appropriations Act for Fiscal Year 20002 requires us to
report annually on the extent to which IMF practices are consistent with
U.S. policies as set forth in federal law. In January 2001, we reported
that Treasury instituted a formal process in 1999 to systematically
promote congressionally mandated policies at the IMF.3 We also found that,
although Treasury had had some influence over IMF policies, it was
difficult to
1The Executive Board oversees the day-to-day business of the IMF. The
board comprises 24 executive directors who are appointed or elected by
member countries or by groups of member countries. The President appoints,
with the advice and consent of the Senate, the U.S. Executive Director to
represent the United States on the board.
2Pub. L. No. 106-113, S: 504 (e) (2004).
3See GAO, International Monetary Fund: Efforts to Advance U.S. Policies at
the Fund, GAO-01-214 (Washington, D.C.: Jan. 29, 2001).
GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
attribute the adoption of a policy within the IMF solely to the efforts of
any one member, because the IMF generally makes decisions on the basis of
consensus. In February 2003 and July 2004, we provided updates on (1) the
status of the U.S. Treasury's process for advancing congressional mandates
at the IMF and (2) the
4
number of U.S. legislative mandates concerning the IMF. This report
provides a similar update for 2005.
Results in Brief
The Department of the Treasury continues to maintain a formal process for
advancing U.S. policies at the IMF. A task force facilitates coordination
between the Treasury and the U.S. Executive Director and identifies early
opportunities to influence decisions of IMF members. Since our July 2004
report, the task force has continued to meet on a regular basis to
identify opportunities to advance legislative mandates at the IMF.
Treasury continues to promote the task force as a tool for monitoring and
promoting legislative mandates and other policy priorities, for example,
by including discussion on crosscutting policy issues such as debt relief
and by focusing attention not only on present, but also on prospective,
IMF programs.
We have identified 71 legislative mandates that prescribe U.S. policy
goals at the IMF, similar to the number-67-that we reported in our 2003
and 2004 reports. Although the total number remained comparatively
constant, some mandates have expired, and others have been added. New
mandates address policy issues such as promoting peace in Sudan and
democratic governance in Belarus. Treasury continues to notify the U.S.
Executive Director about new mandates through instruction letters.
Background
The Department of the Treasury has the lead role within the executive
branch for formulating U.S. policy toward the IMF. The U.S. Executive
Director is appointed by the President and pursues U.S. policy objectives
through his or her membership in the IMF's Executive Board. Treasury's
Office of International Affairs, along with the Office of the U.S.
Executive Director of the IMF, formulates, evaluates, and implements
Treasury policy concerning U.S. participation in the IMF, including the
policy positions and directives set forth in legislative mandates.
The legislative mandates that set forth U.S. policy regarding the IMF
cover a range of issues. Some of these, such as exchange rate policy, are
core to the IMF's mission. This report classifies mandates into one of two
broad categories: "policy" mandates
4See GAO, Treasury Maintains a Formal Process to Advance U.S. Policies at
the International Monetary Fund, GAO-03-401R (Washington, D.C.: Feb. 7,
2003); and Treasury Continues Its Formal Process to Promote U.S. Policies
at the International Monetary Fund , GAO-04-928R (Washington, D.C.: July
12, 2004).
Page 2 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
and "directed vote" mandates.5 Policy mandates seek to foster or advocate
a certain policy at the IMF by directing Treasury to instruct the U.S.
Executive Director to use his or her "voice," "vote," or both, on behalf
of the United States at the Executive Board to bring about a policy change
at the IMF. For example, the U.S. Executive Director is directed to
encourage the IMF to adopt internationally recognized worker rights for
borrowing countries. Directed vote mandates are more prescriptive, in that
they instruct the United States to "oppose" or "vote against" loans or
other IMF assistance to particular countries or categories of countries.
For example, the U.S. Executive Director is directed to vote against
financial assistance for a country that is not compliant with the
Trafficking Victims Protection Act6 (see enclosure I, mandate 51).
Treasury Has a Systematic Process for Promoting U.S. Legislative Mandates
Treasury continues to have a systematic process in place to advance U.S.
legislative mandates at the IMF. As we reported previously,7 Treasury
created the Task Force on Implementation of U.S. Policy and Reforms in the
IMF in March 1999 to strengthen the process by which the United States
pursues its objectives at the IMF. In particular, the task force was to
increase awareness among Treasury staff about the mandates and identify
early opportunities to provide input to the U.S. Executive Director to
influence decisions regarding IMF members' programs and economic reviews.
Treasury also continues to make available to all relevant staff annual
updates of its comprehensive legislative mandates manual, which contains
all mandates applicable to U.S. participation in the IMF.
The task force includes staff-level representatives from the regional and
functional offices within Treasury's Office of International Affairs,
Treasury's Office of the General Counsel, and the U.S. Executive
Director's office. Task force members continue to meet monthly to discuss
how Treasury and the U.S. Executive Director
8
can best apply legislative mandates given a country's economic
circumstances.
According to Treasury officials, the task force serves an important role
as a mechanism to systematically remind Treasury officials of the need to
address legislative mandates. Prior to each monthly meeting, task force
members review a tentative schedule of IMF Executive Board meetings for
upcoming weeks to stay abreast of what countries will be discussed by the
board. Also, Treasury officials may prepare for the meetings by obtaining
information about other opportunities to
5Reporting mandates that require Treasury to report to Congress on various
issues related to U.S. participation in the IMF constitute a third
category of legislative mandates. This report does not cover reporting
mandates because they are not related to advancing U.S. policy goals at
the IMF.
622 U.S.C. S: 7107 (2004).
7GAO-01-214; GAO-03-401R; GAO-04-928R.
8Although the task force helps facilitate coordination between Treasury
officials and the U.S. Executive Director, it is not the final arbiter for
determining the U.S. policy position toward the IMF on any given issue.
The task force is not a review or approval mechanism to give Treasury
sanction to pursue individual mandates.
Page 3 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
attempt to influence the IMF. For example, Treasury officials may hold
discussions with IMF officials when an IMF mission is planned to a
particular country as part of negotiations for a new or existing program
or an economic review.
At the task force meetings, members discuss opportunities to implement
mandates, including mandates of potential relevance for specific
countries. The aim of the discussion is to identify the best opportunities
to make a credible and convincing case for pursuing a mandate at a given
time. Once agreement is reached on how to pursue a mandate, Treasury
officers for the specific country collaborate with U.S. Executive Director
staff and functional specialists to draft a policy position for the U.S.
Executive Director. The policy position can take the form of input for a
written statement or talking points for an oral statement to the Executive
Board. The U.S. Executive Director pursues U.S. objectives, including the
legislative mandates, through various channels at the IMF. For example,
the U.S. Executive Director regularly makes oral or written statements to
the board to apprise it of U.S. policy objectives regarding requests from
countries for new programs, IMF reviews of existing programs, and regular
IMF reviews of all members' economic policies.
Since creating the task force, Treasury has made occasional modifications
to its efforts to monitor and promote legislative mandates at the IMF. For
example, in March 2001, the task force expanded its agenda to include not
only countries scheduled for discussion by the IMF board but also
countries that might need a program over the next several months. This
enabled task force participants to focus attention on countries not yet on
the board's calendar. In April 2004, Treasury officials initiated efforts
to make the task force more useful for participants by, for example,
reorganizing the meeting agenda into a table format that clearly indicates
mandates that are relevant to particular countries. They also categorized
the countries under discussion by differentiating those that currently
have an IMF program from those that may need one. In early 2005, Treasury
began transitioning its task force meetings from a biweekly to a monthly
basis, while holding periodic meetings among the country desk officers,
the Office of General Counsel, and the Executive Director's Office, as
needed. The task force also added crosscutting policy discussions to the
agenda. As a result, according to Treasury officials, attendance at the
task force meetings increased.
Slight Increase in Number of U.S. Legislative Mandates Concerning the IMF
The number of U.S. legislative mandates concerning the IMF has remained
relatively constant for the last 3 years. Through our legal analysis,
supplemented by documentation obtained from the Department of the
Treasury, we identified a total of 71 IMF-related mandates as of August
2005, 4 more than we identified in each of our February 2003 and July 2004
reports. In the year since our last update, only mandates enacted by
appropriations acts have expired. Although these mandates expired when the
appropriated funds were no longer legally available, they were each
replaced by the fiscal year 2005 appropriations act.9 New mandates address
policy issues such as
9Appropriations for Foreign Operations, Export Financing, and related
programs for fiscal year 2005, Pub. L. No. 108-447, Div. D, 118 Stat. 2809
(2004) (various sections).
Page 4 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
oversight of the extraction of natural resources,10 membership and
leadership positions at the IMF,11 promoting peace in the Sudan,12 and
support for the
13
development of democracy in Belarus. Treasury continues to provide annual
notification letters concerning new mandates to the U.S. Executive
Director's office. These notification letters instruct the U.S. Executive
Director to take appropriate actions with respect to IMF mandates.
Enclosure I identifies all directed vote and policy mandates that
prescribe U.S. policy goals at the IMF under current federal law. The
enclosure briefly describes the broad policy objectives that the mandates
address and some of the actions that are required by the U.S. Treasury and
the U.S. Executive Director. The mandates date from 1945 to 2004, with the
majority enacted in the last decade. Some mandates address multiple policy
issues, sometimes overlapping one another. Enclosure II identifies some
policies that are addressed in multiple mandates.14 For example, nine
mandates pertain to trade and seven pertain to debt issues.
Agency Comments and Our Evaluation
We received written comments on a draft of this report from the Department
of the Treasury, which are reprinted in enclosure III. Treasury concurred
with the facts presented in this report. Treasury reiterated its position
that the extensive legislative mandates could potentially undermine its
effectiveness and influence at the IMF.
Scope and Methodology
To describe the current process that Treasury has in place to advance
congressional mandates at the IMF, we reviewed the list of topics
discussed in the monthly task force meetings from July 2004 to June 2005,
which summarizes major issues relating to the mandates. To determine the
current number of IMF mandates, we analyzed Treasury's compilation of
legislative mandates pertaining to the international financial
institutions and documents obtained through our own legal research. In
addition, we reviewed a December 2004 memorandum for distribution from
Treasury to the U.S. Executive Director concerning new mandates and
Treasury's 2005 compilation of legislative mandates applying to
international financial institutions. We used two criteria to identify the
relevant laws for this review: (1) any current law that explicitly directs
the U.S. Executive Director to the IMF to use his vote at the IMF to
achieve a policy goal and (2) any current law that seeks to have the U.S.
10Pub. L. No. 108-447, Div. D, S: 576(c), 118 Stat. at 3029.
11Intelligence Reform and Terrorism Prevention Act of 2004, Pub. L. No.
108-458, S: 7111, 118 Stat. 3638, 3794-95 (2004).
12Comprehensive Peace in Sudan Act, Pub. L. No. 108-497, S: 6, 118 Stat.
4012, 4018-4019 (2004).
13Belarus Democracy Act, Pub. L. No. 108-347, S: 5, 118 Stat. 1383,
1385-1386 (2004).
14Within enclosures I and II, mandates shown in bold represent those added
since our last report in July 2004. Some of these additional mandates
replace expired mandates, while others cover new topics.
Page 5 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
Executive Director use his voice at the IMF to promote a U.S. policy or
make a policy change. To address both objectives, we also interviewed
officials in Treasury's Office of International Monetary Policy and the
Office of the General Counsel.
We conducted this review from July 2005 to August 2005 in accordance with
generally accepted government auditing standards.
We are sending copies of this report to other congressional committees,
the Secretary
of the Treasury, the Managing Director of the International Monetary Fund,
and other
interested parties. We also will make copies available to others upon
request. In
addition, the report will be available at no charge on the GAO Web site at
http://www.gao.gov. If you and your staff have questions, please contact
Thomas
Melito at (202) 512-9601 [email protected] or Stephanie J. May at (202)
512-6293
[email protected]. Contact points for our Offices of Congressional Relations
and
Public Affairs may be found on the last page of this report. GAO staff who
made
major contributions to this report are listed in enclosure IV.
Thomas Melito
Director, International Affairs and Trade
Stephanie J. May
Managing Associate General Counsel
General Counsel
Enclosures - 4
Page 6 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
List of Congressional Committees
The Honorable Mitch McConnell
Chairman
The Honorable Patrick J. Leahy
Ranking Minority Member
Subcommittee on State, Foreign Operations,
and Related Programs
Committee on Appropriations
United States Senate
The Honorable Richard G. Lugar
Chairman
The Honorable Joseph R. Biden, Jr.
Ranking Minority Member
Committee on Foreign Relations
United States Senate
The Honorable Jim Kolbe
Chairman
The Honorable Nita M. Lowey
Ranking Minority Member
Subcommittee on Foreign Operations,
Export Financing and Related Programs
Committee on Appropriations
House of Representatives
The Honorable Michael G. Oxley
Chairman
The Honorable Barney Frank
Ranking Minority Member
Committee on Financial Services
House of Representatives
The Honorable Henry J. Hyde
Chairman
The Honorable Tom Lantos
Ranking Minority Member
Committee on International Relations
House of Representatives
Page 7 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies
Enclosure I U.S. Legislative Mandatesa Concerning the IMF
Law and date of Direct ed
enactmentb Subject matter Required actions vote
The Department of the
Treasury (Treasury) shall
instruct the U.S. Executive
Director (USED) to oppose
loans to countries whose
governments engage in a
pattern of gross violations
of internationally
recognized human rights or
provide refuge to
individuals committing acts
Human rights, of international terrorism
international by hijacking aircraft,
terrorism, unless such assistance is
22 U.S.C. 262d religious directed to serve basic
1 Oct. 3, 1977 freedom, and human needs. Severe Yes
others, including violations of religious
nuclear material freedom should be considered
acquisition in determining if the
country has engaged in gross
violations of
internationally recognized
human rights. Further,
Treasury is to instruct the
USED to consider a list of
concerns when carrying out
its duties, including
whether recipient countries
are seeking to acquire
unsafeguarded special
nuclear material.
The President shall direct
the USED to take all
appropriate actions to keep
the compensation for IMF
22 U.S.C. 262e employees at a level
2 Oct. 3, 1977 comparable to the No
Salaries and compensation provided
benefits of employees of both private
International business and the U.S.
Monetary Fund government in comparable
(IMF) employees positions.
Treasury shall instruct the
USED to use his voice and
vote on behalf of the United
States to oppose any IMF
assistance for the
production or extraction of
22 U.S.C. 262h Trade, mining, any commodity or mineral for
3 Oct. 15, 1986 and surplus export, if it is in surplus Yes
commodities on world markets and if the
export of such commodity or
mineral would cause
substantial injury to the
U.S. producers of the same,
similar, or competing
commodity or mineral.
Treasury shall instruct the
USED to consider, when
reviewing loans, credits, or
other uses of IMF resources,
the effect that country
adjustment programs would
have on individual
industries' sectors and
international commodity
markets including specific
criteria to be considered as
a basis for a vote against
certain mining and related
4 22 U.S.C. 262k project proposals. No
Aug. 15, 1985 Specifically, in the case of
copper, Treasury shall
instruct the USED to use the
voice and vote of the United
Impact of country States to oppose any
adjustment assistance using
programs on appropriated funds for the
industries and production of any copper
commodity markets commodity for export or for
and opposition to the financing of the
assistance for expansion, improvement, or
copper refining modernization of copper
and copper mining, smelting, and
commodity export refining capacity.
Treasury shall instruct the
USED to use his voice and
vote to oppose any loan,
other than for basic
humanitarian needs, to any
country that the Secretary
of the Treasury determines
22 U.S.C. does not have in place a
5 262k-1 Sept. Military spending functioning system for Yes
30, 1996 and audits reporting to civilian
authorities audits of
receipts and expenditures
that fund activities of the
armed and security forces
and that has not provided to
the IMF information about
the audit process requested
by the institution.
Treasury shall instruct the
USED to use his voice and
vote to oppose any loan,
other than for basic
humanitarian needs, for any
22 U.S.C. government that the
6 262k-2 Sept. Female genital Secretary of the Treasury Yes
30, 1996 mutilation determines has a known
history of practicing female
genital mutilation and has
not taken steps to implement
educational programs
designed to prevent this
practice.
Treasury shall instruct the
USED to use aggressively his
voice and vote to vigorously
22 U.S.C. Trade barriers promote policies to
7 262n-3 Oct. 21, and agricultural encourage the opening of No
1998 commodities markets for agricultural
commodities and products by
requiring recipient
countries to make efforts to
reduce trade barriers.
Page 8 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to Promote
U.S. Policies Page 9 GAO-05-1015R Treasury Continues to Maintain Its Formal
Process to Promote U.S. Policies
Treasury shall instruct the
USED to consider, when
deciding whether to support
a country's loan program,
the extent to which IMF
borrowing countries have
demonstrated a commitment
to (1) providing accurate
and complete data on
military spending; (2)
establishing good and
22 U.S.C. publicly accountable
8 262o-1 Aug. Military spending governance, including to No
23, 1994 and good governance end excessive military
involvement in the economy;
and (3) to make substantial
reductions in excessive
military spending and
forces. The USED shall
promote a policy that seeks
to channel funding toward
growth and development
priorities and away from
unproductive expenditures,
including military
spending.
Treasury shall instruct the
USED to use aggressively
his voice and vote to
enhance the general
effectiveness of the IMF
with respect to numerous
issues, including exchange
Transparency, debt, rate stability, trade
private sector, liberalization, antitrust
trade, crisis reform, core labor
lending, exchange standards, social safety
22 U.S.C. rates, labor, the nets, sound banking
262o-2 Oct. environment, principles, private sector
21, 1998 (as military spending, burden-sharing, disclosure
amended by sound banking, of market information,
9 Pub. L. No. social safety nets, debt, crises lending, good No
108-458, good governance, governance, procurement
Dec. 17, corruption, the reform, corruption and
2004). poor, and ethnic and bribery, drug-related money
social strife, and laundering, excessive
money laundering and military spending, ethnic
financing of and social strife,
terrorism environmental protection,
transparency, and
microenterprise lending,
especially to the world's
poorest, heavily indebted
countries, and anti-money
laundering (AML) and combat
the financing of terrorism
(CFT) regimes.
Treasury shall instruct the
USED to use his voice and
vote to urge the IMF to
adopt policies and
procedures that ensure that
10 22 Equal employment the IMF does not
U.S.C. Nov. 5, 1990 opportunities at the discriminate against any No
262p-4n IMF person on the basis of
race, ethnicity, gender,
color, or religious
affiliation in any
determination related to
employment.
Treasury shall direct the
USED to use his voice and
vote to bring about the
creation and full
implementation of policies
11 22 Aug. 23, Respect for designed to promote respect
U.S.C. 1994 indigenous peoples for and full protection of No
262p-4o the territorial rights,
traditional economies,
cultural integrity,
traditional knowledge, and
human rights of indigenous
peoples.
Treasury shall direct the
USED to use his voice and
vote to urge the IMF to
adopt policies to encourage
borrowing countries to
guarantee certain
internationally recognized
worker rights and to
12 22 Aug. 23, Internationally include the status of such
U.S.C. 1994 recognized worker rights as an integral part No
262p-4p rights of the policy dialogue with
each country. In addition,
the USED shall urge the IMF
to establish formal
procedures to screen
projects and programs for
any negative impact in a
borrowing country with
respect to those rights.
Treasury shall instruct the
USED to use his voice and
13 22 Apr. 24, State support of vote to oppose any loan for
U.S.C. 1996 international a country for which the Yes
262p-4q terrorism Secretary of State has made
a determination that it is
a terrorist state.
Treasury may instruct the
USED to use aggressively
the voice and vote of the
United States to require an
auditing of IMF
disbursements to ensure
that no funds are paid to
persons who commit,
threaten to commit, or
support terrorism. In
14 22 addition, if the President
U.S.C. Oct. 26, Terrorism determines that a country No
262p-4r 2001 has committed to take
actions that contribute to
efforts of the United
States to respond to,
deter, or prevent acts of
international terrorism,
Treasury may instruct the
USED to use the voice and
vote of the United States
to support any loan or
other use of IMF funds for
such country.
Page 10 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
Treasury
should urge
the IMF to
complete a The USED
debt shall
sustainability recommend and
analysis by work for
December 31, Treasury changes in
2000, and shall IMF The USED
determine Treasury instruct the guidelines to shall
eligibility shall USED to seek Treasury ensure the Treasury shall promote the
for debt instruct the to assure shall effectiveness encourage IMF The USED use of IMF
relief for as USED to use that no instruct the of economic member shall notify programs to
many countries his voice and decision by Treasury USED to work In adjustment countries to The USED the IMF that assist the The USED
under the vote to the IMF shall in opposition considering programs by negotiate a shall it is U.S. Assistance private shall work
modified promote the departs from instruct the to financing the policies Basic considering dollar-Special notify the policy that to private sector in for adoption
Heavily Extended IMF's Personnel Treatment of U.S. policy Investment, USED to Countries for countries of the United human the effect Dollar-Special Drawing Rights IMF that it the sector of any nation, of policies
15 22 Nov. Debt Indebted Poor 16 22 Nov. Structural establishment 17 22 Dec. practices 18 22 Oct. creditors in regarding the 19 22 Oct. employment, encourage IMF 20 22 Oct. harboring either 21 22 July States in 22 22 Oct. needs and the program 23 22 Oct. Drawing Rights substitution 24 22 Oct. Membership is U.S. 25 22 Oct. Palestinian 26 22 Oct. El though 27 22 Nov. Exchange in the IMF to
U.S.C. 29, relief Countries No U.S.C. 29, Adjustment of poverty No U.S.C. 19, at the No U.S.C. 10, debt comparability No U.S.C. 10, and basic staff to No U.S.C. 10, international harboring No U.S.C. 31, foreign No U.S.C. 7, economic will have on No U.S.C. 7, substitution account in No U.S.C. 7, for Taiwan policy that No U.S.C. 7, Liberation No U.S.C. 7, Salvador, particularly No U.S.C. 30, rate promote No
262p-6 1999 Initiative as 262p-7 1999 Facility reduction 262t 1989 IMF It shall be 286e-8 1978 rescheduling of treatment 286e-9 1978 human needs formulate 286e-11 1978 terrorists international 286k 1945 lending, the 286s 1980 adjustment issues such 286u 1980 account which 286v 1980 in the IMF Taiwan be 286w 1980 Organization 286x 1980 Nicaragua, El Salvador 286y 1983 stability exchange rate
possible. reform policies and U.S. policy of public and economic terrorists or USED shall programs as jobs and equitable granted not be given and other and stability.
Treasury shall procedures to that no private stabilization failing to give careful investment. burden-sharing appropriate membership nations Nicaragua, Also, in
make every support initiatives, creditors in programs that take measures consideration The USED would exist membership or other in creating determining a
effort countries' discussions, or cases of debt foster a to prevent to progress shall also among in the IMF. status at an vote of
(including efforts under recommendations rescheduling broader base acts of made in work toward participants the IMF. environment assistance to
instructing programs concerning the where of productive international reaching improved in the that will any IMF
the USED) to developed and placement or official U.S. investment terrorism. agreement coordination account. stabilize a borrower, the
ensure that an jointly removal of any credits are and among nations among the nation's USED shall
external administered personnel involved. employment, to reduce IMF, the economy. take into
assessment of by the World employed by the especially in restrictions World Bank, account
the Heavily Bank and the IMF shall be those on and other whether the
Indebted Poor IMF based on the productive international appropriate Denial of borrower's
Countries containing political activities trade and institutions membership policies are
Initiative those philosophy or that are International promote in this area. for the consistent
takes place by components activity of designed to trade and international Palestinian with certain
December 31, listed in the that meet basic economic economic Liberation IMF
2001. mandate. individual. human needs. stability stability. Organization requirements.
Page 11 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
Treasury shall
instruct the
USED to
consult with
the IMF to
Treasury reduce
shall obstacles to
instruct the and
USED to restrictions
oppose and upon Treasury shall
vote against international instruct the
any IMF trade and USED to seek
drawing by a investment in policy changes
member goods and at the IMF
Treasury The USED shall country that services, that will Treasury
shall recommend and would be eliminate result in a shall
instruct the shall work for used to unfair trade review of instruct the
USED to changes in IMF repay loans IMF and investment policy USED to
actively guidelines and imprudently interest practices, and prescriptions promote
oppose any Trade, policies that made by rates promote implemented by regularly
Treasury facility bank encourage banking Treasury mutually Impact of the IMF to IMF policy and
28 22 Nov. shall 29 22 Nov. involving 30 22 Nov. 31 22 Nov. solvency, countries to 32 22 Nov. Bank institutions 33 22 Nov. International 34 22 Nov. shall 35 22 Nov. Elimination advantageous 36 22 Dec. IMF determine 37 22 Oct. concerning vigorously
U.S.C. 30, Transparency instruct the No U.S.C. 30, use of IMF Yes U.S.C. 30, Treasury No U.S.C. 30, and formulate Yes U.S.C. 30, bailouts and to a member Yes U.S.C. 30, lending and No U.S.C. 30, instruct No U.S.C. 30, of trade and economic No U.S.C. 19, programs on both, if IMF No U.S.C. 24, transparency, in program No
286z 1983 USED to 286aa 1983 credit by 286bb 1983 shall 286cc 1983 external economic 286dd 1983 debt country and 286ee 1983 external 286ff 1983 the USED 286gg 1983 investment relations. The 286kk 1989 the poor objectives 286ll 1992 the poor, and and quota
initiate any instruct the debt adjustment rescheduling to ensure indebtedness to restrictions USED shall and the were met, and the increase
discussions communist USED to servicing programs that that the IMF Treasury shall propose also work to environment the social and environment discussions
at the IMF dictatorship propose and deal with their encourages instruct the and work have the IMF environmental a variety of
and propose unless work for the balance-ofpayment borrowing USED to for the obtain impacts of policy
and vote for certain adoption of difficulties and countries propose that adoption agreement with such proposals
adoption of conditions an IMF external debt and banking the IMF adopt countries to prescriptions, including a
procedures to are met. policy owed to private institutions policies with of IMF eliminate and the proposal
increase both encouraging banks. The USED to respect to policies certain unfair establishment designed to
the sharing members to shall also oppose renegotiate international regarding the trade and of procedures alleviate
of eliminate and vote against a lending, rate of investment to ensure that poverty,
information all fund assistance rescheduling including a remuneration practices and policy options promote
among IMF predatory for a country of debt that policy to paid on use shall take a that reduce policy
members and agricultural whose annual is examine the of members' country's the potential audits in
the public export external debt consistent trend and quota progress into adverse impact the areas of
dissemination subsidies services exceed with safe volume of subscriptions account in on the poor or poverty and
of certain that might 85 percent of its and sound external and the rate formulating the the
IMF result in annual export banking indebtedness of charges on its position environment environment,
information Elimination the earnings, unless practices of private and IMF drawings on requests are included and allow
concerning Denial of of predatory reduction of Treasury can and the public to bring for loans for in future public
international lending to agricultural other member document why an country's borrowers in those in line periodic economic access to
borrowing and communist export countries' exception should ability to Article IV with market financial reform certain IMF
lending. dictatorships subsidies exports. be given. pay. consultations. rates. disbursements. programs. information.
Page 12 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
The U.S.
government
shall oppose
the extension
of any IMF
loan or
financial or
technical
assistance to
any country
that
transfers to
a nonnuclear
weapon state
a nuclear
explosive
device or any
The USED design
shall use information
his voice or component
and vote to for use in The United
urge the IMF the States shall
to continue development oppose, in
to develop or accordance
an economic manufacture with 22
methodology of a nuclear U.S.C. 262d,
to measure explosive the extension
the level of Treasury device. of any loan
military shall Additionally, or financial
spending by instruct the U.S. or technical
every the USED to government assistance to
developing use the shall oppose any country
country. The Treasury voice, the extension Sanctions that the
Measures USED shall Short- and shall vote, and Nuclear of any IMF against President
38 22 Oct. to also urge 39 22 Nov. 40 22 Nov. medium-term 41 22 Dec. 42 22 Apr. Expropriation instruct the 43 22 influence 44 22 Apr. transfers loan or 45 22 Dec. use of determines 46 22 Mar. Opposition 47 22 Apr.
U.S.C. 24, reduce the IMF to No U.S.C. 29, Debt No U.S.C. 6, financing, No U.S.C. 30, Integration No U.S.C. 30, of U.S. USED to vote Yes U.S.C. East of the No U.S.C. 30, and financial or Yes U.S.C. 4, chemical uses chemical Yes U.S.C. 12, to Cuban Yes U.S.C. 30, Nuclear Yes
286mm 1992 military provide 286nn 1999 reduction 286oo 2000 misreporting, 2225 1974 of women 2370a 1994 property against any 2656 Timor United 2799aa-1 1994 illegal technical 5605 1991 and or biological 6034 1996 membership 6302 1994 nonproliferation
spending annual and premium use of IMF note States to exports assistance to biological weapons
reports that Treasury is pricing funds for support any weapons either in
estimate the authorized the benefit economic non-nuclear violation of
level of to instruct of any and weapon state international
military the USED to country that democratic that receives law or
spending by vote to has, after development or detonates against its
each approve the 1956, in East a nuclear own
developing sale of Treasury is nationalized Timor. explosive nationals.
country and gold such requested to or device or The President
urge the IMF that It is the policy instruct the expropriated seeks and may waive
to include proceeds of the United USED to U.S. receives any application
in every can be used States to work to encourage and property design of this
Article IV toward debt implement reforms promote the without information section under
consultation reduction in the IMF to integration compensation or component certain
with such for the achieve the of women into or adequate for use in conditions.
countries an Heavily following goals: the national arbitration, the Treasury shall
analysis on Indebted primarily using economies of unless the development instruct the Treasury shall
this issue. Poor short-term IMF member funds are or USED to use instruct the USED
Countries balanceof-payments countries and directed to manufacture the voice and to use the voice
Initiative financing, into programs of a nuclear vote of the and vote of the
and to limiting the use professional that serve explosive United States United States to
support a of medium-term positions the basic device. The to oppose oppose any use of
decision to financing, within the human needs President may admission of IMF funds to
terminate introducing IMF of the waive Cuba as a promote the
the Special premium pricing organization. citizens of application member of the acquisition of
Contingency for lending that In addition, that of this IMF until the unsafeguarded
Account 2 is greater than Treasury is country, or section with President special nuclear
(SCA-2) and 200 percent of a to take any the (Pub. respect to submits a material or the
make the member's quota in progress or President L. No. India and determination development,
funds in the IMF, and lack of waives this 107228, Pakistan that a stockpiling, or
the SCA-2 redressing cases progress into prohibition sec. under certain democratically use of any nuclear
available of misreporting of account when on the basis 633, conditions. elected explosive device
to the information in the making of U.S. Sept. (See Pub. L. government is by any
poorest context of IMF contributions national 30, No. 106-79, in power in non-nuclear-weapon
countries. programs. to the IMF. interests. 2002) sec. 9001.) Cuba. state.
Page 13 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
If the
President
certifies to
the
appropriate
congressional
committees
that certain
conditions
have been met
in Zimbabwe,
including the
restoration of
The President the rule of
will instruct law and a
the USED to commitment to
vote against, equitable,
and to use legal, and
his best transparent
efforts to Treasury land reform,
deny, any shall then the
loan or other instruct the Treasury
use of IMF USED to vote should direct
funds for the against any the USED to
subsequent utilization propose to
fiscal year of IMF funds undertake
to a country for Burma financial and
that fails to Treasury until such technical
Treasury shall comply or is shall time as the support for
The United instruct the not making instruct the President Zimbabwe,
States shall USED to use the significant USED to use certifies to especially
oppose any IMF voice and vote efforts to the voice and Congress support that
loan or of the United bring itself vote of the that Burma is intended to
financial or States to into United States has made promote
technical support projects compliance to oppose any measurable Zimbabwe's
U.S. assistance to in Tibet, so with the IMF 208, and economic
liability, any foreign 50 22 long as the minimum 52 50 assistance to 53 sec. Burma and sustainable sec. sec. recovery and
48 22 Oct. Religious 49 22 Oct. confidential person, U.S.C. projects are 51 22 Oct. Combat standards for U.S.C. Serbia or the Pub. 570, human progress in 54 Pub. 504, IMF Treasury shall 55 Pub. 4, development,
U.S.C. 27, freedom Yes U.S.C. 21, business officer, or Yes 6901 Tibet designed in No U.S.C. 28, trafficking the Yes 1701 Montenegro governments Yes L. Sept. rights and improving Yes L. No. Nov. Operational instruct the No L. No. Dec. Zimbabwe the Yes
6445 1998 6713 1998 information, employee of note accordance with 7107 2000 in persons elimination note of Serbia or No. 30, democratic human rights 106-113, 29, Budget USED to use 107-99, 21, stabilization
and chemical the certain of Montenegro, 104 1996 government practices 1999 the voice and 2001 of the
weapons Organization enumerated trafficking except for and vote and Zimbabwean
for the principles, such in persons. basic human implementing influence of dollar, and
Prohibition of as that the If certain needs or a democratic the United the viability
Chemical project fosters requirements unless a government States to urge of Zimbabwe's
Weapons whose self-sufficiency are met, this proper waiver in Burma, or vigorously the democratic
actions taken and mandate does or the IMF both to institutions.
in the self-reliance of not apply to certification President publish the Until the
implementation Tibetans. humanitarian is made. waives the operational President
of the assistance, sanction by budgets of the makes a
Chemical trade-related certifying IMF on a certification,
Weapons assistance, to Congress quarterly however, and
Convention or that the basis, not except as may
make the development sanction is later than 1 be required to
United States assistance contrary to year after the meet basic
liable. The and can be U.S. end of the human needs or
United States waived by the national period covered for good
shall also President if interests. by the budget, governance,
oppose any IMF the and to the Treasury
loan or continuation continue to shall instruct
The President financial or of assistance forgo the USED to
shall instruct technical is in the reimbursements oppose and
the USED to assistance to national of the vote against
oppose and vote any foreign interest. (Pub. L. expenses any IMF loan,
against loans person, No. incurred by credit, or
primarily business 103160, the IMF in guarantee to
benefiting a entity, or sec. administering the government
foreign country that 1511, the Enhanced of Zimbabwe or
government, knowingly Nov. 30, Structural any
agency, encourages or (Pub. 1993 & Adjustment cancellation
instrumentality, assists such a L. No. Pub .L. Facility, or reduction
or official person in 107228, No. until the of
determined by disclosing sec. 104-208, Heavily indebtedness
the President to U.S. 616, sec. Indebted Poor owed by the
be a violator of confidential Sept. 540, Countries government of
religious business 30, Feb. 12, initiative is Zimbabwe to
freedoms. information. 2002) 1996) terminated. the IMF.
Page 14 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
No funds
appropriated
by the Foreign
Operations,
Export
After April Financing, and Treasury shall
10, 2003, Related instruct the
and every 6 Programs USED to vote
months Appropriations against any new
thereafter, Act, 2005, may project
if the be made as involving the
President Treasury payment to the extension of
certifies Provisions should IMF while the financial or
that the of law that instruct the USED is Treasury Treasury technical
government direct the USED to use compensated by shall Treasury should assistance to
of Sudan has United the voice the IMF at a instruct shall instruct any country
not engaged Treasury shall States and vote of rate that, the USED to instruct the USED whose
in good instruct the Government the United together with use the the USED to to use the authorities have
faith USED to oppose to vote States to the voice and oppose and voice and failed, as
negotiations and vote against against or oppose the compensation vote of the vote vote of determined by
to achieve a extending any oppose extension of 447, the USED 447, United against the United 447, the Secretary of
permanent (Pub. IMF loan or loans or 347, any Div. receives from Div. States to extending States to Div. Countries State, to take
sec. and just 57 50 L. No. Burmese financial or other use 59 sec. financial 60 D, the United 61 D, Trade, oppose any 62 IMF loans 63 oppose 64 D, providing necessary and
56 Pub. 6, peace U.S.C. 108-61, Freedom technical 58 Pub. Lifting of funds, Pub. 5, Belarus assistance, Pub. sec. Compensation States, is in Pub. sec. mining, and IMF Pub. or Pub. loans to Pub. sec. sanctuary significant
L. No. Oct. Sudan agreement, Yes 1701 sec. 5, and assistance to Yes L. No. of Iraqi including No L. Oct. Democracy including Yes L. 501, for the USED excess of the No L. 514, surplus assistance Yes L. Burma financial Yes L. Cambodia the Yes L. 561, to steps to Yes
107-245, 21, or has note Jul. Democracy Burma until 108-11, Sanctions for No. 20, Act any No. Dec. rate provided No. Dec. commodities for the No. or No. central No. Dec. indicted apprehend and
2002 unreasonably 28, Act certain financial 108 2004 technical 108 8, for an 108 8, production 108 technical 108 government 108 8, war transfer to the
interfered 2003) conditions are or assistance 2004 individual 2004 or assistance of 2004 criminals International
with met, including technical or grant, to occupying a extraction or any Cambodia, Criminal
humanitarian that the SPDC assistance, the position at of any other except Tribunal for the
efforts in has made in the IMF government level IV of commodity utilization loans to former
Sudan, then substantial for Iraq of Belarus, the Executive or mineral of IMF support Yugoslavia all
the Treasury progress to end shall not except for Schedule under for export, funds to basic persons indicted
shall human rights be loans and 5 U.S.C. 5315, if it is in and for human by the Tribunal
instruct the violations, to construed assistance or while the surplus on Burma. needs. and to otherwise
USED to implement a sec. as applying to serve alternate U.S. world cooperate with
continue to democratic 1503, to Iraq. humanitarian Director is markets and the Tribunal.
vote government, and Apr. needs. compensated by if the This section
against, and that Burma is 16, the IMF at a assistance does not apply
actively not designated 2003 rate in excess will cause to humanitarian
oppose, any as a country (as of the rate substantial assistance and
extension of that has failed amended provided for injury to 447, 447, assistance for
any IMF demonstrably to by Pub. an individual the U.S. Div. Div. democratization.
loan, adhere to its L. No. occupying a producers D, D,
credit, or obligations 108106, position at of the sec. sec.
guarantee to under sec. level V of the same, 531, 554,
the international 2204, Executive similar, or Dec. Dec.
government counternarcotics Nov. 6, Schedule under competing 8, 8,
of Sudan. agreements. 2003). 5 U.S.C. 5316. commodity. 2004 2004
Page 15 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
The
President,
acting
through the
Secretary of
the Treasury,
should use
the voice,
vote, and
influence of
the United
States to (1)
reform, where
appropriate,
Treasury the criteria
shall inform for
the leadership
management of and, in
the IMF that appropriate
it is the cases, for
policy of the membership,
United States at the IMF so
that the IMF as to exclude
should not countries
provide that violate
assistance the
for the principles of
extraction the
and export of organization;
oil, gas, (2) make it
After March coal, timber, an IMF policy
31, 2004, or other that a member
Treasury natural country may
should resource to not stand in
447, 447, instruct the any country 447, 447, nomination
Div. Div. USED to 447, unless the Div. Div. 458, for (50
65 D, 66 D, support loans 67 Div. D, Extraction government of 68 D, 69 D, 70 sec. Membership membership or U.S.C.
Pub. sec. User Pub. sec. Serbia and and Pub. sec. and export the country Pub. sec. Pub. sec. Pub. 7111, and in nomination 71 Pub. 1701 Comprehensive
L. 562, fees Yes L. 563, Montenegro assistance to Yes L. 576(c), of natural has in place No L. 580, Zimbabwe Yes L. 581, Tibet No L. Dec. leadership or in No L. No. note), Peace in Yes
No. Dec. No. Dec. the No. Dec. resources or is working No. Dec. No. Dec. No. 17, positions rotation for 108-497 Dec. Sudan Act
108 8, 108 8, government of 108 12, to establish 108 8, 108 8, 108 2004 a significant 23,
2004 2004 Serbia and 2004 functioning 2004 2004 leadership 2004
Montenegro systems to position if
Treasury shall subject to (1) Treasury shall the country
instruct the certain accurately instruct the is subject to
USED to oppose conditions, account for USED to vote Treasury should sanctions
any loan, grant, including revenues and against any instruct the USED imposed by
strategy, or that the expenditures extension of to use the voice the UN
policy of the government of in connection any IMF loans and vote of the Security
IMF that would Serbia and with the to the United States to Council; and
require user Montenegro is extraction government of support projects (3) work to
fees or service taking steps and export of Zimbabwe, in Tibet, if the ensure that
charges on poor consistent such natural except to meet projects do not no member
people for with the resource, (2) basic human provide country
primary Dayton Peace independently needs or to incentives for stands in Notwithstanding
education or Accord to end audit such promote migration and nomination the
primary health financial, accounts and democracy, settlement of for certification
care, including political, disseminate unless the non-Tibetans into membership or requirement in
prevention and security, and the audits, Secretary of Tibet or in nomination paragraph (1)
treatment other support and (3) State facilitate the or in of Section 6(b)
efforts for that served verify determines and transfer of rotation for of the Sudan
Human to maintain government certifies to ownership of a significant Peace Act (Pub.
Immunodeficiency separate receipts the Committees Tibetan land and leadership L. No.
Virus/Acquired Republika against on natural resources position if 107-245),
Immune Srpska company Appropriations to non-Tibetans; the Treasury shall
Deficiency institutions. payments and that the rule are based on a government instruct the
Syndrome, With respect disseminate of law has thorough has been USED to
malaria, to such such payment been restored needs-assessment; determined by continue to
tuberculosis, loans, 22 information in Zimbabwe, foster the Secretary vote against,
and infant, U.S.C. in a manner including self-sufficiency of State to and actively
child and 262k-1, which that does not respect for of Tibetan people have oppose, any
maternal requires create ownership and and respect repeatedly extension of
well-being, in transparency competitive title to Tibetan culture provided any IMF loan,
connection with of military disadvantage property, and traditions; support for credit, or
the IMF's budgets, or disclose freedom of and are subject acts of guarantee to
financing shall not proprietary speech and to effective international the government
program. apply. information. association. monitoring. terrorism. of Sudan.
Source: GAO.
Notes:
The information shown in this enclosure is based on a GAO analysis of
policy and directed vote legislative mandates concerning the IMF.
Mandates shown in bold represent mandates that were enacted since our last
report in July 2004 and simply replace older mandates or represent
amendments to mandates. Mandates shown in bold with a shaded background
represent new mandates that were added in recent legislation since our
July 2004 report.
Mandates contained in FY 2005 Appropriations Acts remain in effect through
September 30, 2005.
aTreasury puts mandates in three broad categories: "policy," "directed
vote," and "reporting" mandates. Policy mandates direct the United States
to foster or urge a certain policy at the IMF. Directed vote mandates
instruct the United States to "oppose" or "vote against" loans or other
IMF assistance. Reporting mandates are outside the scope of this report.
bThis column reports the original date of enactment. However, many of
these mandates were amended subsequent to this date.
Page 16 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
Enclosure II
Examples of Broad Policies that Are Addressed in Multiple Laws a
Page 17 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
22
U.S.C.
286e-8
(Oct.
10,
1978)
22
U.S.C. 22
22 286cc U.S.C.
U.S.C. Pub. L. (Nov. 286kk 22
2225 No. 30, (Dec. U.S.C.
(Dec. 104-208, 1983) 19, 286mm 22
30, 22 sec. 570 22 22 22 22 1989) 22 (Oct. U.S.C.
1974) 22 U.S.C. (Sep. U.S.C. U.S.C. U.S.C. U.S.C. U.S.C. 24, 2799aa-1
U.S.C 286cc 30, 286dd 286kk 262d 286e-9 286ll 1992) (Apr.
262e (Nov. 1996) 50 (Nov. 22 (Dec. 22 22 (Oct. 3, (Oct. 22 (Oct. 22 30, 22
(Oct. 3, 30, U.S.C. 30, U.S.C. 19, U.S.C. U.S.C. 1977) 22 10, U.S.C. 24, U.S.C. 1994) 22 U.S.C.
1977) 22 1983) 1701 1983) 2225 1989) 286y 262o-1 U.S.C. 1978) 262p-4p 1992) 22 262o-1 U.S.C. 262d
U.S.C. 22 note 22 (Dec. 22 (Nov. (Aug. 262p-4o 22 (Aug. U.S.C. Military (Aug. 6302 (Oct.
Broad Administrative 262t U.S.C. (Pub. L. U.S.C. 30, U.S.C. Exchange 30, 23, (Aug. U.S.C. 23, Poverty 262o-2 spending 23, Nuclear and (Apr. 3,
policy Law and personnel (Dec. Banking 286dd Burma No. Debt 286ee Employment 1974) Environment 286ll rate 1983) Governance 1994) Human 23, Investment 286s Labor 1994) alleviation (Oct. and 1994) chemical 30, Religious 1977)
objective matters 19, (Nov. 108-61, (Nov. 22 (Oct. stability 22 22 rights 1994) (Oct. 22 and 21, military 22 nonproliferation 1994) 22 freedom 22
1989) 22 30, sec. 5 30, U.S.C. 24, U.S.C. U.S.C. Pub. L. 7, U.S.C. education 1998) 22 audit U.S.C. U.S.C. U.S.C.
U.S.C. 1983) (Jul. 1983) 286e-9 1992) 262o-2 262o-2 No. 1980) 262o-2 U.S.C. 262k-1 6713 6445
262p-4n 22 28, 22 (Oct. 22 (Oct. (Oct. 104-208, 22 (Oct. 262p-7 (Sep. (Oct. (Oct.
(Nov. 5, U.S.C. 2003)) U.S.C. 10, U.S.C. 21, 21, Sec. 570 U.S.C. 21, (Nov. 30, 21, 27,
1990) 262o-2 Pub. L. 262o-2 1978) 262o-2 1998) 1998) (Sep. 286gg 1998) 29, 1996) 1998) 22 1998)
Pub. L. (Oct. No. (Oct. (Oct. 30, (Nov. 1999) 22 U.S.C.
No. 21, 108-477, 21, 21, 1996) 30, Pub. L. U.S.C. 5605
108-447, 1998) sec. 531 1998) 1998) 1983) No. 262o-2 (Dec. 4,
sec. 501 (Dec. 8, 22 108-447, (Oct. 1991)
(Dec. 8, 2004) U.S.C. sec. 562 21,
2004) 286nn (Dec. 8, 1998)
(Nov. 2004)
29,
1999)
22
U.S.C.
262p-6
(Nov.
29,
1999)
50 U.S.C. 1701 note (Pub. L. No. 103-160, sec. 1511
Serbia (Nov. 30, 1993) & Pub. L. No. 104-208, sec. 540
(Feb. 12, 1996)) Pub. L. No. 108-447, sec. 563 (Dec.
8, 2004)
22 U.S.C. 262d (Oct. 3, 1977) 22 U.S.C. 286e-11
Terrorism (Oct. 10, 1978) 22 U.S.C. 262p-4q (Apr. 24, 1996) 22
U.S.C. 262p-4r (Oct. 26, 2001) 22 U.S.C. 262o-2
(Oct. 21, 1998)
22 U.S.C. 6901 note (Pub. L. No. 107-228, sec. 616
Tibet (Sep. 30, 2002)) Pub. L. No. 108-447, sec. 581 (Dec.
8, 2004)
22 U.S.C. 286k (Jul. 31, 1945) 22 U.S.C. 286bb (Nov.
30, 1983) 22 U.S.C. 286cc (Nov. 30, 1983) 22 U.S.C.
Trade 286gg (Nov. 30, 1983) 22 U.S.C. 262k (Aug. 15, 1985)
22 U.S.C. 262h (Oct. 15, 1986) 22 U.S.C. 262n-3
(Oct. 21, 1998) 22 U.S.C. 262o-2 (Oct. 21, 1998)
Pub. L. No. 108-447, sec. 514 (Dec. 8, 2004)
Transparency 22 U.S.C. 286z (Nov. 30, 1983) 22 U.S.C. 286ll (Oct.
24, 1992) 22 U.S.C. 262o-2 (Oct. 21, 1998)
Use of IMF resources 22 U.S.C. 286u (Oct. 7, 1980) 22 U.S.C. 286ff (Nov.
30, 1983) 22 U.S.C. 286oo (Nov. 6, 2000)
Women's issues 22 U.S.C. 2225 (Dec. 30, 1974) 22 U.S.C. 262k-2
(Sep. 30, 1996)
Zimbabwe Pub. L. No. 107-99, sec. 4 (Dec. 21, 2001) Pub. L.
No.108-447, sec. 580 (Dec. 8, 2004)
Source: GAO.
Notes:
The information shown in this enclosure is based on a GAO analysis of
policy and directed vote legislative mandates concerning the IMF.
Mandates shown in bold represent mandates that were added since our last
report in July 2004. Some of these mandates simply replace older mandates
that had expired while others cover new topics.
aTreasury puts mandates in three broad categories: "policy," "directed
vote," and "reporting" mandates. Policy mandates direct the United States
to foster or urge a certain policy at the IMF. Directed vote mandates
instruct the United States to "oppose" or "vote against" loans or other
IMF assistance. Reporting mandates are outside the scope of this report.
Page 18 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
Enclosure III Comments from the Department of the Treasury Enclosure IV
GAO Contacts and Staff Acknowledgments
GAO Contacts
Thomas Melito (202) 512-9601 [email protected] or Stephanie J. May at (202)
512-6293 [email protected]
Staff Acknowledgments
Cheryl Goodman, Claude Adrien, Patrick Dickriede, Tracey King, Reid Lowe,
and Grace Lui made key contributions to this report.
(320367)
Page 20 GAO-05-1015R Treasury Continues to Maintain Its Formal Process to
Promote U.S. Policies
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