Page:United States Statutes at Large Volume 106 Part 4.djvu/624

 106 STAT. 3360 PUBLIC LAW 102-511—OCT. 24, 1992 to measure the level of military spending by each developing country. "(2) PROGRESS REPORT TO THE CONGRESS.— N O later than 1 year after the date of the enactment of this section, 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 SPEND- ING.— 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 Einnual fall Interim and Development Committee meetings. "(c) ANALYSIS AND ASSESSMENT OF MILITARY SPENDING To BE INCLUDED IN ARTICLE IV CONSULTATIONS BY THE 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), to include in every article IV consultation with a developing country an analysis of the level of military spending by the developing coiuitry 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).". 22 USC 5812 SEC. 1004. SUPPORT FOR MACROECONOMIC STABILIZATION IN THE note. INDEPENDENT STATES OF THE FORMER SOVIET UNION. (a) IN GENERAL. —In order to promote macroeconomic stabilization and the integration of the independent states of the former Soviet Union into the international financial system, enhance the opportunities for trade, improve the climate for foreign investment, and strengthen the process of transformation of the former socialist economies into free enterprise systems and thereby progressively enhance the well-being of the citizens of these states, the United States should in appropriate circumstances take a leading role in organizing and supporting multilateral efforts at macroeconomic stabilization and debt rescheduling, conditioned on the appropriate development and implementation of comprehensive economic reform programs. (b) CURRENCY STABILIZATION.— In furtherance of the purposes and consistent with the conditions described in subsection (a), the Congress expresses its support for United States participation, in sums of up to $3,000,000,000, in a currency stabilization fund or funds for the independent states of the former Soviet Union. (c) STUDY OF THE NEED FOR AND FEASIBILITY OF A CURRENCY STABILIZATION FUND FOR UKRAINE.— The Secretary of the Treasury shall instruct the United States Executive Director of the International Monetary Fund to use the voice and vote of the United States to urge the Fund to conduct a study of the need for and

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