(a) Consideration of commitment to achieving certain goals
(1) 1 In general
The Secretary of the Treasury shall instruct the United States Executive Directors of the international financial institutions (as defined in section
262r(c)(2) of this title) to promote growth in the international economy by taking into account, when considering whether to support or oppose loan proposals at these institutions, the extent to which the recipient government has demonstrated a commitment to achieving the following goals:
(A)to provide accurate and complete data on the annual expenditures and receipts of the armed forces;
(B)to establish good and publicly accountable governance, including an end to excessive military involvement in the economy; and
(C)to make substantial reductions in excessive military spending and forces.
(b) Steps to achieve goals required
The Secretary of the Treasury shall instruct the United States Executive Directors of the international financial institutions (as so defined) to promote a policy at each institution under which—
(1)the respective institution monitors closely and, through regular policy consultations with recipient governments, seeks to influence the composition of public expenditure in favor of funding growth and development priorities and away from unproductive expenditure, including excessive military expenditures;
(2)the respective institution supports lending operations which assist efforts of recipient governments to promote good governance, including public participation, and reduce military expenditures; and
(3)the allocation of resources and the extension of credit by the respective institution takes into account the performance of recipient governments in the areas of good governance, ending excessive military involvement in the economy and reducing excessive military expenditures.
The definitions in section
262p–5 of this title apply to this section.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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