22 USC 286mm - Measures to Reduce Military Spending by Developing Nations

(a) Development by Fund of means to measure military spending

(1) Position of the United States

The United States Executive Director of the Fund shall use the voice and vote of the United States to urge the Fund, in consultation with the Bank, to continue to develop an economic methodology to measure the level of military spending by each developing country.

(2) Progress report to the Congress

No later than 1 year after October 24, 1992, the Secretary of the Treasury shall submit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs and the Committee on Foreign Relations of the Senate a report on the status of the development by the Fund of a workable economic methodology to measure military spending by developing countries.

(b) Annual reports by Fund on levels of military spending

The United States Executive Director of the Fund shall use the voice and vote of the United States to urge the Fund, beginning with 1994, to provide the Executive Board of the Fund with annual reports stating the estimate by the Fund of the level of military spending by each developing country in the immediately preceding calendar year (or, with respect to developing countries whose fiscal years are not calendar years, in the most recently completed fiscal year of the developing country), not later than the date of the annual fall Interim and Development Committee meetings.

(c) Analysis and assessment of military spending to be included in article IV consultations by Fund

The United States Executive Director of the Fund shall use the voice and vote of the United States to urge the Fund, beginning no later than the date of the first report provided as described in subsection (b) of this section, to include in every article IV consultation with a developing country an analysis of the level of military spending by the developing country in the immediately preceding calendar year (or, with respect to developing countries whose fiscal years are not calendar years, in the most recently completed fiscal year of the developing country).

(July 31, 1945, ch. 339, §60, as added Pub. L. 102–511, title X, §1003, Oct. 24, 1992, 106 Stat. 3359.)

Sections:  Previous  286ff  286gg  286hh  286ii  286jj  286kk  286ll  286mm  286nn  286oo  286pp  286qq  286rr  286ss  286tt  Next

Last modified: October 26, 2015