§262r–4. Annual report and testimony on state of 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 262o–2 of this title.

(b) Testimony

After submitting the report required by subsection (a) of this section 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.

(Pub. L. 95–118, title XVII, §1705, as added Pub. L. 105–277, div. A, §101(d) [title VI, §613], Oct. 21, 1998, 112 Stat. 2681–150 , 2681-230.)

Definitions

The definitions in section 262r of this title apply to this section.