Page:United States Statutes at Large Volume 112 Part 4.djvu/235

 PUBLIC LAW 105-277—OCT. 21, 1998 112 STAT. 2681-206 "SEC. 129. PROGRAM TO PROVTOE TECHNICAL ASSISTANCE TO FOR- 22 USC 2151aa. EIGN GOVERNMENTS AND FOREIGN CENTRAL BANKS OF DEVELOPING OR TRANSITIONAL COUNTRIES. "(a) ESTABLISHMENT OF PROGRAM.— "(1) IN GENERAL.— Not later than 150 days after the date of the enactment of this section, the Secretary of the Treasury, after consultation with the Secretary of State and the Administrator of the United States Agency for International Development, is authorized to establish a program to provide technical assistance to foreign governments and foreign central banks of developing or transitional countries. "(2) ROLE OF SECRETARY OF STATE. —The Secretary of State shall provide foreign policy guidsuice to the Secretary to ensure that the program established under this subsection is effectively integrated into the foreign policy of the United States. "(b) CONDUCT OF PROGRAM.— "(1) IN GENERAL. — In carrying out the program established under subsection (a), the Secretary shall provide economic and financial technical assistance to foreign governments and foreign central banks of developing and transitional countries by providing advisers with appropriate expertise to advance the enactment of laws and establishment of administrative procedures and institutions in such countries to promote macroeconomic and fiscal stability, efficient resource allocation, transparent and market-oriented processes and sustainable private sector growth. "(2) ADDITIONAL REQUIREMENTS. —To the extent practicable, such technical assistance shall be designed to establish— "(A) tax systems that are fair, objective, and efficiently gather sufficient revenues for governmental operations; "(B) debt issuance and management programs that rely on market forces; "(C) budget planning and implementation that permits responsible fiscal policy management; "(D) commercial banking sector development that efficiently intermediates between savers and investors; and "(E) financial law enforcement to protect the integrity of financial systems, financial institutions, and government programs. "(c) ADMINISTRATIVE REQUIREMENTS.—In carrying out the program established under subsection (a), the Secretary— "(1) shall establish a methodology for identifying and selecting foreign governments and foreign central banks to receive assisteince under the program; "(2) prior to selecting a foreign government or foreign central bank to receive assistance under the program, shall receive the concurrence of the Secretary of State with respect to the selection of such government or central bank and with respect to the cost of the assistance to such government or central bank; "(3) shall consult with the heads of appropriate Executive agencies of the United States, including the Secretary of State and the Administrator of the United States Agency for International Development, and appropriate international financial institutions to avoid duplicative efforts with respect to those foreign countries for which such agencies or organizations provide similar assistance;

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