
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC286t]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
           CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
 
 SUBCHAPTER XV--INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION 
                             AND DEVELOPMENT
 
Sec. 286t. Omitted


                          Codification

    Section, act July 31, 1945, ch. 339, Sec. 34, as added Oct. 7, 1980, 
Pub. L. 96-389, Sec. 4(b), 94 Stat. 1553, directed the Secretary of the 
Treasury, in cooperation with the United States Director of the Fund, to 
study and report to Congress prior to May 15, 1981, with respect to 
adequacy of Fund resources and method of increasing Fund liquidity, 
promotion of more direct recycling of oil surpluses, and methods of 
providing adequate resources for balance-of-payments financing.


   Recycling Balance-of-Payments Surpluses by Oil Exporting Countries

    Section 4(a) of Pub. L. 96-389 provided that: ``It is the sense of 
the Congress that (1) the interests of the United States and those of 
other member countries require an effective International Monetary Fund 
equipped with resources adequate to facilitate orderly balance-of-
payments adjustments; (2) persistent balance-of-payments surpluses in 
oil exporting countries have placed, and will continue to place, severe 
strains on the resources of oil importing countries and on the liquidity 
of the Fund; (3) these strains can only be relieved if the oil exporting 
countries assume a greater burden for financing balance-of-payments 
deficits through direct methods of recycling their surpluses and through 
proportionally greater contributions to the Fund and to the 
international lending institutions; and (4) the Fund must explore 
innovative proposals to encourage more direct recycling of oil surpluses 
and to increase its own liquidity.''
