§ 286mm. — Measures to reduce military spending by developing nations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC286mm]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XV--INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION
AND DEVELOPMENT
Sec. 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, Sec. 60, as added Pub. L. 102-511, title X,
Sec. 1003, Oct. 24, 1992, 106 Stat. 3359.)
Change of Name
Committee on Banking, Finance and Urban Affairs of House of
Representatives treated as referring to Committee on Banking and
Financial Services of House of Representatives by section 1(a) of Pub.
L. 104-14, set out as a note preceding section 21 of Title 2, The
Congress. Committee on Banking and Financial Services of House of
Representatives abolished and replaced by Committee on Financial
Services of House of Representatives, and jurisdiction over matters
relating to securities and exchanges and insurance generally transferred
from Committee on Energy and Commerce of House of Representatives by
House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
