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 country’s
ability to pay.
[22 USC 286dd. As added
by act of Nov. 30, 1983 (97 Stat. 1273).]
