Amends the Federal Credit Reform Act of 1990 to declare that, beginning with FY 2007, no appropriation may be made for an increase in the quota of the United States in the International Monetary Fund (IMF) unless it includes new budget authority sufficient to cover the estimated costs to the United States of providing direct loans, loan guarantees, other financing mechanisms (and their modifications) made by or through the IMF to IMF borrowing nations at interest rates below the cost to the Government after appropriate adjustments for maturity and credit risk.
Requires the expenditures in the President's budget to reflect the costs to the Government of providing credit to IMF borrowing nations at such interest rates.
Introduced in House
Introduced in House
Referred to the Committee on the Budget, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on the Budget, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
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