
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: 22USC6034]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
     CHAPTER 69A--CUBAN LIBERTY AND DEMOCRATIC SOLIDARITY (LIBERTAD)
 
 SUBCHAPTER I--STRENGTHENING INTERNATIONAL SANCTIONS AGAINST THE CASTRO 
                               GOVERNMENT
 
Sec. 6034. United States opposition to Cuban membership in 
        international financial institutions
        

(a) Continued opposition to Cuban membership in international financial 
        institutions

                           (1) In general

        Except as provided in paragraph (2), the Secretary of the 
    Treasury shall instruct the United States executive director of each 
    international financial institution to use the voice and vote of the 
    United States to oppose the admission of Cuba as a member of such 
    institution until the President submits a determination under 
    section 6063(c)(3) of this title that a democratically elected 
    government in Cuba is in power.

                      (2) Transition government

        Once the President submits a determination under section 
    6063(c)(1) of this title that a transition government in Cuba is in 
    power--
            (A) the President is encouraged to take steps to support the 
        processing of Cuba's application for membership in any 
        international financial institution, subject to the membership 
        taking effect after a democratically elected government in Cuba 
        is in power, and
            (B) the Secretary of the Treasury is authorized to instruct 
        the United States executive director of each international 
        financial institution to support loans or other assistance to 
        Cuba only to the extent that such loans or assistance contribute 
        to a stable foundation for a democratically elected government 
        in Cuba.

(b) Reduction in United States payments to international financial 
        institutions

    If any international financial institution approves a loan or other 
assistance to the Cuban Government over the opposition of the United 
States, then the Secretary of the Treasury shall withhold from payment 
to such institution an amount equal to the amount of the loan or other 
assistance, with respect to either of the following types of payment:
        (1) The paid-in portion of the increase in capital stock of the 
    institution.
        (2) The callable portion of the increase in capital stock of the 
    institution.

(c) ``International financial institution'' defined

    For purposes of this section, the term ``international financial 
institution'' means the International Monetary Fund, the International 
Bank for Reconstruction and Development, the International Development 
Association, the International Finance Corporation, the Multilateral 
Investment Guaranty Agency, and the Inter-American Development Bank.

(Pub. L. 104-114, title I, Sec. 104, Mar. 12, 1996, 110 Stat. 794.)
