Page:United States Statutes at Large Volume 97.djvu/1302

 97 STAT. 1270 PUBLIC LAW 98-181—NOV. 30, 1983 Presidential authority. 22 USC 286f. "(2) unused lines of credit which have been made available to those private and public entities of any member, where such loans or lines of credit are repayable in freely convert- ible currency. "(d) The President is authorized to usc the authority provided under section 8 of this Act to require any person (as defined in such section) subject to the jurisdiction of the United States to provide such information as the Fund determines to be necessary in order to carry out the provisions of this section.". Consultations with Treasury Secretary and congressional committees. SPECIAL DRAWING RIGHTS SEC. 803. Section 6 of the Special Drawing Rights Act (22 U.S.C. 286q) is amended— (1) by inserting "(a)" after "SEC. 6."; and (2) by adding at the end thereof the following: "(b)(1) Neither the President nor any person or agency shall on behalf of the United States vote to allocate Special Drawing Rights under article XVIII, sections 2 and 3, of the Articles of Agreement of the Fund without consultations by the Secretary of the Treasury at least 90 days prior to any such vote, with the Chairman §ind ranking minority members of the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives, and the appropriate subcommittees there- of. "(2) Such consultations shall include an explanation of the consist- ency of such proposal to allocate with the requirements of the Articles of Agreement of the Fund, in particular the requirement that in all its decisions with respect to allocation of Special Drawing Rights, the Fund shall 'seek to meet the long-term global need, as and when it arises, to supplement existing reserve assets in such manner as will promote the attainment of its purposes and will avoid economic stagnation and deflation as well as excess demand and inflation in the world'.". INSTRUCTIONS TO THE UNITED STATES EXECUTIVE DIRECTOR SEC. 804. The Bretton Woods Agreements Act (22 U.S.C. 286 et seq.) is amended by adding at the end thereof the following: 22 USC 286aa. Appearance before congressional committees. INSTRUCTIONS TO THE UNITED STATES EXECUTIVE DIRECTOR "SEC. 43. (a) The Congress hereby finds that Communist dictator- ships result in severe constraints on labor and capital mobility and other highly inefficient labor and capital supply rigidities which contribute to balance of payments deficits in direct contradiction of the goals of the International Monetary Fund. Therefore, the Secre- tary of the Treasury shall instruct the United States Executive Director of the Fund to actively oppose any facility involving use of Fund credit by any Communist dictatorship, unless the Secretary of the Treasury certifies and documents in writing upon request and so notifies and appears, if requested, before the Foreign Relations and Banking, Housing, and Urban Affairs Committees of the Senate and the Banking, Finance and Urban Affairs Committee of the House of Representatives, at least twenty-one days in advance of any vote on such drawing that such drawing—

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