Page:United States Statutes at Large Volume 112 Part 4.djvu/258

 112 STAT. 2681-229 PUBLIC LAW 105-277—OCT. 21, 1998 implemented financial sector restructuring and reform measures required by the International Monetary Fund, including— "(A) ensuring full respect for the commercial orientation of commercial bank lending; "(B) ensuring that governments will not intervene in hank management and lending decisions (except in regard to prudential supervision); "(C) the enactment and implementation of appropriate financial reform legislation; "(D) strengthening the domestic financisd system and improving transparency and supervision; and "(E) the opening of domestic capital markets. "(3) A description of the degree to which the countries requiring the financial stabilization programs have fully implemented reforms required by the International Monetary Fund that are directed at corporate governance and corporate structure, including— "(A) making nontransparent conglomerate practices more transparent through the application of internationaly accepted accounting practices, independent external audits, full disclosure, and provision of consolidated statements; and "(B) ensuring that no government subsidized support or tax privileges will be provided to bail out individual corporations, particularly in the semiconductor, steel, and paper industries. "(4) A description of the implementation of reform measures required by the International Monetary Fund to deregulate and privatize economic activity by ending domestic monopolies, undertaking trade libersilization, and opening up restricted areas of the economy to foreign investment and competition. "(5) A detailed description of the trade policies of the countries, including any unfair trade practices or adverse effects of the trade policies on the United States. "(6) A description of the extent to which the financial stabilization programs have resulted in appropriate burdensharing among private sector creditors, including rescheduling of outstanding loans by lengthening maturities, agreements on debt reduction, and the extension of new credit. "(7) A description of the extent to which the economic adjustment policies of the International Monetary Fund and the policies of the government of the country adequately balance the need for financial stabilization, economic growth, environmental protection, social stability, and equity for all elements of the society. "(8) Whether International Monetary Fund involvement in labor market flexibility measures has had a negative effect on core worker rights, particularly the rights of free association and collective bargaining. "(9) A description of any pattern of abuses of core worker rights in recipient countries. "(10) The amount, rate of interest, and disbursement and repayment schedules of any funds disbursed from the stabilization fund established under section 5302 of title 31, United States Code, in the form of loans, credits, guarantees, or swaps, in support of the financial stabilization programs.

�