(a) (1) The United States Executive
Director of the Fund shall use the voice and vote of the United States
to urge the Fund, in consultation with the Bank, to continue to develop
an economic methodology to measure the level of military spending
by each developing country.
(2) No later than 1 year after the date
of the enactment of this section, the Secretary of the Treasury shall
submit to the Committee on Banking, Finance and Urban Affairs of the
House of Representatives and the Committee on Banking, Housing, and
Urban Affairs and the Committee on Foreign Relations of the Senate
a report on the status of the development by the Fund of a workable
economic methodology to measure military spending by developing countries.
(b) The United States Executive Director
of the Fund shall use the voice and vote of the United States to urge
the Fund, beginning with 1994, to provide the Executive Board of the Fund
with annual reports stating the estimate by the Fund of the level
of military spending by each developing country in the immediately
preceding calendar year (or, with respect to developing countries
whose fiscal years are not calendar years, in the most recently completed
fiscal year of the developing country), not later than the date of
the annual fall Interim and Development Committee meetings.
(c) The United States Executive Director of the Fund
shall use the voice and vote of the United States to urge the Fund,
beginning no later than the date of the first report provided as described
in subsection (b), to include in every article IV consultation with
a developing country an analysis of the level of military spending
by the developing country in the immediately preceding calendar year
(or, with respect to developing countries whose fiscal years are not
calendar years, in the most recently completed fiscal year of the
developing country).
[22 USC 286mm. As added
by act of Oct. 24, 1992 (106 Stat. 3359).]
