Page:United States Statutes at Large Volume 94 Part 2.djvu/273

 PUBLIC LAW 96-389—OCT. 7, 1980

Public Law 96-389 96th Congress

94 STAT. 1551

An Act

To amend the Bretton Woods Agreements Act to authorize consent to an increase in the United States quota in the International Monetary Fund, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, INCREASE IN UNITED STATES QUOTA

1. The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended by adding at the end thereof the following new section: "SEC. 32. The United States Governor of the Fund is authorized to consent to an increase in the quota of the United States in the Fund equivalent to 4,202.5 million Special Drawing Rights, to such extent or in such amounts as are provided in appropriation Acts.".

Oct. 7, 1980 [S. 2271]

Bretton Woods Agreements Act, amendment.

SECTION

22 USC 286e-lg.

BASIC HUMAN NEEDS

SEC. 2. (a) The Bretton Woods Agreements Act is further amended by adding at the end thereof the following new section: "SEC. 33. (a) The President shall instruct the Secretary of the Treasury, the Secretary of State, and other appropriate Federal officials to use all appropriate means to encourage countries, in formulating economic adjustment programs to deal with their balance of payments difficulties, to design those programs so as to safeguard, to the maximum feasible extent, jobs, investment, real per capita income, policies to reduce the gap in wealth between rich and poor, and social programs such as hesdth, housing, and education. "0^) To ensure the effectiveness of economic adjustment programs supported by Fund resources and the reinforcement of those programs by longer term efforts to promote sustained growth and improved living conditions— "(1) United States representatives to the Fund shall recommend and shall work for changes in Fund guidelines, policies, and decisions that would— "(A) permit stand-by arrangements to be extended beyond three years, as necessary to enable Fund members to implement their economic adjustment programs successfully; "(B) provide that in approving any economic adjustment program the Fund shall take into account the effect such program will have on jobs, investment, real per capita income, the gap in wealth between the rich and poor, and social programs such as health, housing, and education, in order to seek to minimize the adverse impact of those adjustment programs on basic human needs; and "(C) provide that letters of intent submitted to the Fund in support of an economic adjustment program reflect that the

79-194

O—81—pt.2

18:QL3

International Monetary Fund economic adjustment programs. 22 USC 286s.

�