22-U.S.C.-286DD
§286Dd – Fund Bailouts of Banks; Rescheduling of Debt
Pathway
Title 22 > Chapter 7 > Subchapter XV > Section 286dd
Details
- Reference: Section 286dd
- Legend: §286Dd – Fund Bailouts of Banks; Rescheduling of Debt
- USCode Year: 2013
Provision Content
The Secretary of the Treasury shall instruct the United States Executive Director of the Fund—
(1) to oppose and vote against any Fund drawing by a member country where, in his judgment, the Fund resources would be drawn principally for the purpose of repaying loans which have been imprudently made by banking institutions to the member country; and
(2) to work to insure that the Fund encourages borrowing countries and banking institutions to negotiate, where appropriate, a rescheduling of debt which is consistent with safe and sound banking practices and the countrys ability to pay.
(July 31, 1945, ch. 339, §46, as added Pub. L. 98–181, title I [title VIII, §807], Nov. 30, 1983, 97 Stat. 1273.)
U.S. Encyclopedia of Law Coverage
22-U.S.C.-286CC in the Legal Encyclopedia: Foreign Relations
In this entry about 22-U.S.C.-286CC, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.
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