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22 U.S.C. § 286nn — Acceptance of membership by United States in International Development Association
Federal law — U.S. Code and appendices · legal_authorities
The President is hereby authorized to accept membership for the United States in the International Development Association (hereinafter referred to as the “Association”), provided for by the Articles of Agreement (hereinafter referred to as the “Articles”) of the Association deposited in the archives of the International Bank for Reconstruction and Development.
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Source file: Laws/federal/codes/united-states-code/title-22/section-286nn-acceptance-of-membership-by-united-states-in-international-development-a--eacaf44715.md
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Source location: Title 22, Chapter 7, § 286nn; chapter-007-international-bureaus-congresses-etc.md
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The President is hereby authorized to accept membership for the United States in the International Development Association (hereinafter referred to as the “Association”), provided for by the Articles of Agreement (hereinafter referred to as the “Articles”) of the Association deposited in the archives of the International Bank for Reconstruction and Development.
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Federal law — U.S. Code and appendices · legal_authorities
The Secretary of the Treasury shall maintain the value in terms of gold of the holdings of United States money of the International Bank for Reconstruction and Development, the Inter-American Development Bank, the International Development Association, and the Asian Development Bank to the extent provided in the articles of agreement of those institutions. Amounts necessary to maintain the value may be appropriated. Amounts appropriated under this section remain available until expended.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5152
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Federal law — U.S. Code and appendices · legal_authorities
For the purpose of mobilizing the resources of the Fund in order to help reduce poverty and improve the lives of residents of poor countries and, in particular, to allow those poor countries with unsustainable debt burdens to receive deeper, broader, and faster debt relief, without allowing gold to reach the open market or otherwise adversely affecting the market price of gold, the Secretary of the Treasury is authorized to instruct the United States Executive Director of the Fund to vote—
(1) to approve an arrangement whereby the Fund—
(A) sells a quantity of its gold at prevailing market prices to a member or members in nonpublic transactions sufficient to generate 2.226 billion Special Drawing Rights in profits on such sales;
(B) immediately after, and in conjunction with each such sale, accepts payment by such member or members of such gold to satisfy existing repurchase obligations of such member or members so that the Fund retains ownership of the gold at the conclusion of such payment; and
(C) uses the earnings on the investment of the profits of such sales through a separate subaccount, only for the purpose of providing debt relief from the Fund under the modified Heavily Indebted Poor Countries (HIPC) Initiative (as defined in [section 262p–6 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section262p-6&num=0&edition=prelim)); and
(2) to support a decision that shall terminate the Special Contingency Account 2 (SCA–2) of the Fund so that the funds in the SCA–2 shall be made available to the poorest countries. Any funds attributable to the United States participation in SCA–2 shall be used only for debt relief from the Fund under the modified HIPC Initiative.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 290k–11
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Federal law — U.S. Code and appendices · legal_authorities
Page 197
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 286oo
Statutory Notes and Related Subsidiaries
CHANGE OF NAME
Committee on Banking, Finance and Urban Affairs of
House of Representatives treated as referring to Com-
mittee on Banking and Financial Services of House of
Representatives by section 1(a) of Pub. L. 104–14, set
out as a note preceding section 21 of Title 2, The Con-
gress. Committee on Banking and Financial Services of
House of Representatives abolished and replaced by
Committee on Financial Services of House of Rep-
resentatives, and jurisdiction over matters relating to
securities and exchanges and insurance generally trans-
ferred from Committee on Energy and Commerce of
House of Representatives by House Resolution No. 5,
One Hundred Seventh Congress, Jan. 3, 2001.
§ 286nn. Approval of contributions for debt re-
ductions for the poorest countries
For the purpose of mobilizing the resources of
the Fund in order to help reduce poverty and
improve the lives of residents of poor countries
and, in particular, to allow those poor countries
with unsustainable debt burdens to receive deep-
er, broader, and faster debt relief, without al-
lowing gold to reach the open market or other-
wise adversely affecting the market price of
gold, the Secretary of the Treasury is author-
ized to instruct the United States Executive Di-
rector of the Fund to vote—
(1) to approve an arrangement whereby the
Fund—
(A) sells a quantity of its gold at pre-
vailing market prices to a member or mem-
bers in nonpublic transactions sufficient to
generate
2.226
billion
Special
Drawing
Rights in profits on such sales;
(B) immediately after, and in conjunction
with each such sale, accepts payment by
such member or members of such gold to
satisfy existing re
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 286nn
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