123STA T . 1 9 1 7PUBLIC LA W 111 – 32 —J U NE 2 4, 2 0 09 Lead e rs’St ate m e n t ofAp r il2, 2 0 0 9 in London, t h eSe c retar y of the T reas u ry is authori z ed to instruct the U nited States Ex ecuti v e D irector to consent to such amendments not w ith - standin g su b section ( d ) of this section, and to ma k e loans, in an amount not to exceed the dollar e q uivalent of 75 ,000,000,000 Special Drawing R ights, in addition to any amounts previously authorized under this section and limited to such amounts as are provided in advance in appropriations Acts, except that prior to activation, the Secretary of the Treasury shall report to C ongress on whether supplementary resources are needed to forestall or cope with an impairment of the international monetary system and whether the F und has fully explored other means of funding, to the Fund under article VI I, section 1 (i), of the Articles of Agreement of the Fund
- Provide
d , That prior to instructing the United States Executive Director to provide consent to such amendments, the Secretary of the Treasury shall consult with the appropriate congressional committees on the amendments to be made to the N ew Arrangements to B orrow, including guidelines and criteria governing the use of its resources
the countries that have made commitments to contribute to the New Arrange- ments to Borrow and the amount of such commitments; and the steps taken by the United States to expand the number of countries so the United States share of the expanded New Arrangements to Borrow is representative of its share as of the date of enactment of this Act: Provided fu r th er, That any loan under the authority granted in this subsection shall be made with due regard to the present and prospective balance of payments and reserve position of the United States . ’’. and (2) in subsection (b) — (A) by inserting ‘ ‘(1)’’ before ‘‘For the purpose of’’; (B) by inserting ‘‘subsection (a)(1) of’’ after ‘‘pursuant to’’; and (C) by adding at the end the following: ‘‘(2) For the purpose of making loans to the International M onetary Fund pursuant to subsection (a)(2) of this section, there is hereby authorized to be appropriated not to exceed the dollar equivalent of 75,000,000,000 Special Drawing Rights, in addition to any amounts previously authorized under this section, except that prior to activation, the Secretary of the Treasury shall report to Congress on whether supplementary resources are needed to forestall or cope with an impairment of the international monetary system and whether the Fund has fully explored other means of funding, to remain available until expended to meet calls by the Fund. Any payments made to the United States by the Fund as a repayment on account of the principal of a loan made under this section shall continue to be available for loans to the Fund.’’. S EC .1 4 02. The Bretton W oods Agreements Act (22 U.S.C. 2 86 et seq.) is amended by adding at the end the following: ‘ ‘ SEC.64 . A CCE PT A N CE OF A M EN D MENTS TO T H EA R T I C L ESOFA G REE - MENT OF THE F U ND. ‘‘The United States G overnor of the Fund may agree to and accept the amendments to the Articles of Agreement of the Fund as proposed in the resolutions numbered 6 3– 2 and 63–3 of the 2 2 USC 2 86p p .Loans . Re po rt s. Cons ul tat i on. G ui d elines.
