Page:United States Statutes at Large Volume 112 Part 4.djvu/259

 PUBLIC LAW 105-277—OCT. 21, 1998 112 STAT. 2681-230 "(11) The amount, rate of interest, and disbursement and repayment schedules of any funds disbursed by the International Monetary Fund to the countries in support of the financial stabilization programs. "(b) TIMING.— Not later than March 15, 1999, and semiannually thereafter, the Secretary of the Treasury shall submit to the Committees on Banking and Fineincial Services and International Relations of the House of Representatives and the Committees on Foreign Relations, and Banking, Housing, and Urban Affairs of the Senate a report on the matters described in subsection (a). ". ANNUAL REPORT AND TESTIMONY ON THE STATE OF THE INTER- NATIONAL FINANCIAL SYSTEM, IMF REFORM, AND COMPLIANCE WITH IMF AGREEMENTS SEC. 613. Title XVII of the International Financial Institutions Act (22 U.S.C. 262r-262r-2) is further amended by adding at the end the following: "SEC. 1705. ANNUAL REPORT AND TESTIMONY ON THE STATE OF THE 22 USC 262r--i. INTERNATIONAL FINANCIAL SYSTEM, IMF REFORM, AND COMPLIANCE WITH IMF AGREEMENTS. "(a) REPORTS.— Not later than October 1 of each year, the Secretary of the Treasury shall submit to the Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate a written report on the progress (if any) made by the United States Executive Director at the International Monetary Fund in influencing the International Monetary Fund to adopt the policies and reform its internal procedures in the manner described in section 1503. "(b) TESTIMONY. —After submitting the report required by subsection (a) but not later than March 1 of each year, the Secretary of the Treasury shall appear before the Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate and present testimony on— "(1) any progress made in reforming the International Monetary Fund; "(2) the status of efforts to reform the international financial system; and "(3) the compliance of countries which have received assistance from the International Monetary Fund with agreements made as a condition of receiving the assistance.". AUDITS OF THE INTERNATIONAL MONETARY FUND SEC. 614. Title XVII of the International Financial Institutions Act (22 U.S.C. 262r-262r-2) is further amended by adding at the end the following: "SEC 1706. AUDITS OF THE INTERNATIONAL MONETARY FUND. 22 USC 262r-5. "(a) ACCESS TO MATERIALS.—Not later than 30 days after the date of the enactment of this section, the Secretary of the Treasury shall certify to the Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate that the Secretary has instructed the United States Executive Director at the International Monetary Fvmd to facilitate timely access by the General Accounting Office to

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