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22 U.S.C. § 262t — Instructions for United States Director
Federal law — U.S. Code and appendices · legal_authorities
Immediately after taking office and prior to the issuance by the Agency of its first guarantee, the United States Director of the Agency shall propose and actively seek the adoption by the Board of Directors of policies and procedures under which the Agency will not issue guarantees in respect of any proposed investment that would—
(1) be in any country which has not taken or is not taking steps to afford internationally recognized workers’ rights to workers in that country;
(2) be subject to trade-distorting performance requirements imposed by the host country that are likely to result in a significant net reduction in—
(A) employment in the United States or other member countries; or
(B) other trade benefits likely to accrue to the United States or other member countries from the investment; or
(3) increase a country’s productive capacity in an industry already facing excess worldwide capacity for the same, similar or competing product, and cause substantial injury to producers of such product in another member country.
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Source file: Laws/federal/codes/united-states-code/title-22/section-262t-instructions-for-united-states-director--9009d3d0b3.md
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Source location: Title 22, Chapter 7, § 262t; chapter-007-international-bureaus-congresses-etc.md
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Immediately after taking office and prior to the issuance by the Agency of its first guarantee, the United States Director of the Agency shall propose and actively seek the adoption by the Board of Directors of policies and procedures under which the Agency will not issue guarantees in respect of any proposed investment that would—
(1) be in any country which has not taken or is not taking steps to afford internationally recognized workers’ rights to workers in that country;
(2) be subject to trade-distorting performance requirements imposed by the host country that are likely to result in a significant net reduction in—
(A) employment in the United States or other member countries; or
(B) other trade benefits likely to accrue to the United States or other member countries from the investment; or
(3) increase a country’s productive capacity in an industry already facing excess worldwide capacity for the same, similar or competing product, and cause substantial injury to producers of such product in another member country.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Chairman shall report annually to the Speaker of the House of Representatives, the President of the Senate, and to the President of the United States on the participation of the United States in the international financial institutions. The Chairman shall present such report to the Speaker of the House of Representatives and the President of the Senate not later than April 1 of each year following the close of the fiscal year covered by such report, except that the report for fiscal year 1989 shall be submitted not later than June 1, 1990.
**(b) Contents of reports** Each annual report required by subsection (a) shall contain—
(1) such data and explanations concerning the effectiveness, operations, and policies of the international financial institutions, such recommendations concerning the international financial institutions, and such other data and material as the Chairman may deem appropriate;
(2) the reports on each specific issue and topic which is required by any other provision of law to be included in the report of the National Advisory Council on International Monetary and Financial Policies required by [section 286b(b)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title22-section286b/b/5&num=0&edition=prelim), as in effect immediately before December 19, 1989;
(3) a description of each loan or other form of financial assistance approved by any international financial institution during the fiscal year covered by such report, and a discussion of how such loan or financial assistance will benefit the people, particularly the poor people, of the recipient country;
(4) a review of the success achieved through the multilateral development banks in reducing or eliminating import restrictions and unfair ex
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Federal law — U.S. Code and appendices · legal_authorities
Page 92
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 262t
DEFINITIONS
The definitions in section 262r of this title apply to
this section.
§ 262t. Personnel practices
(a) Statement of policy
It shall be the policy of the United States that
no initiatives, discussions, or recommendations
concerning the placement or removal of any per-
sonnel employed by the international financial
institutions shall be based on the political phi-
losophy or activity of the individual under con-
sideration.
(b) Consultation
The Secretary of the Treasury shall consult
with the Chairman and the ranking minority
member of the Committee on Banking, Finance
and Urban Affairs of the House of Representa-
tives and the Committee on Foreign Relations
of the Senate before any discussion or rec-
ommendations by any official of the United
States Government concerning the placement or
removal of any principal officer of any inter-
national financial institutions.
(Pub. L. 95–118, title XIX, § 1901, as added Pub. L.
101–240, title V, § 541(a), Dec. 19, 1989, 103 Stat.
2517.)
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
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