Page:United States Statutes at Large Volume 108 Part 2.djvu/917

 PUBLIC LAW 103-306—AUG. 23, 1994 108 STAT. 1633 the contribution to the Interest Subsidy Account of the successor to the Enhanced Structural Adjustment Facility of the International Monetary Fund is limited to $25,000,000. The amount to be paid in respect of each such contribution or subscription is authorized to be appropriated without fiscal year limitation. Each such subscription or contribution shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. "-^••' • '•" (d) Title XV of the International Financial Institutions Act (22 U.S.C. 262o) is amended by adding at the end the following: "SEC. 1502. MILITARY SPENDING BY RECIPIENT COUNTRIES; MILI- 22 USC 262o-l. TARY INVOLVEMENT IN THE ECONOMIES OF RECIPIENT COUNTRIES. "(a) CONSIDERATION OF COMMITMENT TO ACHIEVING CERTAIN GOALS.— "(1) IN GENERAL. —The Secretary of the Treasury shall instruct the United States Executive Directors of the international financial institutions (as defined in section 1701(c)(2)) 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.". (e) Title XVI of the International Financial Institutions Act (22 U.S.C. 262p et seq.) is amended by redesignating section 1620 as section 1622 and by inserting after section 1619 the following: 22 USC 262p-5. "SEC. 1620. RESPECT FOR INDIGENOUS PEOPLES. 22 USC 262p-4o. 'The Secretary of the Treasury shall direct the United States Executive Directors of the international financial institutions (as defined in section 1701(c)(2)) and the United States representative

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