---
kind: "section"
citation: "22 U.S.C. § 286y"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "286y"
heading: "Promoting conditions for exchange rate stability"
release: "119-102"
url: "https://uscodex.org/usc/22/286y"
units:
  - "Chapter 7 — International Bureaus, Congresses, Etc."
  - "Subchapter XV — International Monetary Fund and Bank for Reconstruction and Development"
---

# §286y. Promoting conditions for exchange rate stability

- (a) In order to help assure that the resources provided under [section 286e–1i of this title](/usc/22/286e–1i.md) are used to support pro-growth policies which will help establish the economic conditions necessary for more appropriate financial and exchange rate alignment and stability, it is the sense of Congress that the [Secretary](/usc/22/277d–43.md?p=5) of the Treasury shall—
  - (1) in consultation with the Secretary of State and the [United States](/usc/22/1395.md?p=a-1) Trade Representative, initiate discussions with other countries regarding the economic dislocations which result from structural exchange rate imbalances; and
  - (2) instruct the [United States](/usc/22/1395.md?p=a-1) [Executive Director](/usc/22/10601.md?p=5) of the [Fund](/usc/22/2431a.md?p=9) to work for adoption of policies in the [Fund](/usc/22/2431a.md?p=9), both within the framework of article IV (of the Articles of [Agreement](/usc/22/2431a.md?p=7) of the [Fund](/usc/22/2431a.md?p=9)) consultations and with respect to the conditions associated with [Fund](/usc/22/2431a.md?p=9)-supported balance of payments adjustments [programs](/usc/22/3383.md?p=6), which promote conditions contributing to the stability of exchange rates and avoid the manipulation of exchange rates between major currencies. Among other initiatives, the [Secretary](/usc/22/277d–43.md?p=5) of the Treasury shall propose strengthening the article IV consultation procedures of the [Fund](/usc/22/2431a.md?p=9) to attempt to ensure that countries which are artificially maintaining undervalued or overvalued rates of exchange agree to adopt market determined exchange rates.
- (b) In determining his vote on extensions of assistance to any [Fund](/usc/22/2431a.md?p=9) borrower, the [United States](/usc/22/1395.md?p=a-1) [Executive Director](/usc/22/10601.md?p=5) of the [Fund](/usc/22/2431a.md?p=9) shall take into account whether such borrower’s policies are consistent with the requirements of article IV of the Articles of [Agreement](/usc/22/2431a.md?p=7) of the [Fund](/usc/22/2431a.md?p=9).

## Source credit

(July 31, 1945, ch. 339, § 40, as added Pub. L. 98–181, title I [title VIII, § 801], Nov. 30, 1983, 97 Stat. 1267.)