---
kind: "section"
citation: "22 U.S.C. § 5332"
title: "22"
title_heading: "Foreign Relations and Intercourse"
number: "5332"
heading: "Actions to facilitate creation of Authority"
release: "119-102"
url: "https://uscodex.org/usc/22/5332"
units:
  - "Chapter 62 — International Financial Policy"
  - "Subchapter II — International Debt"
  - "Part B — International Debt Management Authority"
---

# §5332. Actions to facilitate creation of Authority

- (a) **In general—** No [funds](/usc/22/2431a.md?p=9), appropriations, contributions, callable capital, financial guarantee, or any other financial support or obligation or contingent support or obligation on the part of the [United States](/usc/22/1395.md?p=a-1) Government may be used for the creation, operation, or support of the International Debt Management Authority specified in [section 5331 of this title](/usc/22/5331.md), without the express approval of the Congress through subsequent law, nor shall any expenses associated with such authority, either directly or indirectly, accrue to any [United States person](/usc/22/3146.md?p=1) without the consent of such person. Except as restricted in the preceding sentence, the [Secretary](/usc/22/277d–43.md?p=5) of the Treasury shall review all potential resources available to the multilateral financial institutions which could be used to support the creation of the International Debt Management Authority. In the course of this review, the [Secretary](/usc/22/277d–43.md?p=5) shall direct—
  - (1) the [United States](/usc/22/1395.md?p=a-1) [Executive Director](/usc/22/10601.md?p=5) of the International Monetary [Fund](/usc/22/2431a.md?p=9) to determine the amount of, and alternative methods by which, gold stock of the [Fund](/usc/22/2431a.md?p=9) which, subject to action by its [Board](/usc/22/2431a.md?p=4) of Governors, could be pledged as collateral to obtain financing for the activities of the authority specified in [section 5331 of this title](/usc/22/5331.md); and
  - (2) the [United States](/usc/22/1395.md?p=a-1) [Executive Director](/usc/22/10601.md?p=5) to the International Bank for Reconstruction and Development to determine the amount of, and alternative methods by which, liquid assets controlled by such Bank and not currently committed to any loan [program](/usc/22/3383.md?p=6) which, subject to action by its [Board](/usc/22/2431a.md?p=4) of Governors, could be pledged as collateral for obtaining financing for the activities of the authority specified in [section 5331 of this title](/usc/22/5331.md).

  The [Secretary](/usc/22/277d–43.md?p=5) of the Treasury shall include a report on the results of the review in the first report submitted under [section 5331(c) of this title](/usc/22/5331.md?p=c).

- (b) **Construction of section—** [Subsection (a)](#a) shall not be construed to affect any provision of the Articles of [Agreement](/usc/22/2431a.md?p=7) of the International Monetary [Fund](/usc/22/2431a.md?p=9) or of the International Bank for Reconstruction and Development or any [agreement](/usc/22/2431a.md?p=7) entered into under either of such [Agreements](/usc/22/2431a.md?p=7).

## Source credit

(Pub. L. 100–418, title III, § 3112, Aug. 23, 1988, 102 Stat. 1378.)