|
|
|
U.S. Code as of:
01/19/04
Section 262o-1. Military spending by recipient countries; military involvement in economies of recipient countries
(a) Consideration of commitment to achieving certain goals
(1) (!1) In general
The Secretary of the Treasury shall instruct the United States
Executive Directors of the international financial institutions
(as defined in section 262r(c)(2) of this title) to promote
growth in the international economy by taking into account, when
considering whether to support or oppose loan proposals at these
institutions, the extent to which the recipient government has
demonstrated a commitment to achieving the following goals:
(A) to provide accurate and complete data on the annual
expenditures and receipts of the armed forces;
(B) to establish good and publicly accountable governance,
including an end to excessive military involvement in the
economy; and
(C) to make substantial reductions in excessive military
spending and forces.
(b) Steps to achieve goals required
The Secretary of the Treasury shall instruct the United States
Executive Directors of the international financial institutions (as
so defined) to promote a policy at each institution under which -
(1) the respective institution monitors closely and, through
regular policy consultations with recipient governments, seeks to
influence the composition of public expenditure in favor of
funding growth and development priorities and away from
unproductive expenditure, including excessive military
expenditures;
(2) the respective institution supports lending operations
which assist efforts of recipient governments to promote good
governance, including public participation, and reduce military
expenditures; and
(3) the allocation of resources and the extension of credit by
the respective institution takes into account the performance of
recipient governments in the areas of good governance, ending
excessive military involvement in the economy and reducing
excessive military expenditures.
|
|