republic-os/legal/us/code/title-22/chapter-7/section-262p-7.md

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LegalText	22 U.S.C. § 262p–7	Reform of the Enhanced Structural Adjustment Facility	us	united_states_code	code_section	22	FOREIGN RELATIONS AND INTERCOURSE	7	INTERNATIONAL BUREAUS, CONGRESSES, ETC.	262p–7	22 U.S.C. § 262p–7	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc22@119-100.zip	/us/usc/t22/s262p–7	data/legal/raw/us/code/title-22/usc22.xml	c0f7a38121ead7461339c3b4fb5596d43f20b3c0f38f6f3f74a219d55b64a802	b9c63ede722f5e0bf8eabfe9029e06e312ab9bcfd95c4d1424ed515baff1df83	a6365c07a3a4b02894d9a75450854522fa753979a97ee3e68e529de3b9e741f0	2026-07-04	official	legal us-code

22 U.S.C. § 262p–7 - Reform of the Enhanced Structural Adjustment Facility

Text

The Secretary of the Treasury shall instruct the United States Executive Directors at the International Bank for Reconstruction and Development (World Bank) and the International Monetary Fund (IMF) to use the voice and vote of the United States to promote the establishment of poverty reduction strategy policies and procedures at the World Bank and the IMF that support countries’ efforts under programs developed and jointly administered by the World Bank and the IMF that have the following components:

(1) The development of country-specific poverty reduction strategies (Poverty Reduction Strategies) under the leadership of such countries that—

(A) will be set out in poverty reduction strategy papers (PRSPs) that provide the basis for the lending operations of the International Development Association (IDA) and the reformed Enhanced Structural Adjustment Facility (ESAF);

(B) will reflect the World Bank’s role in poverty reduction and the IMF’s role in macroeconomic issues;

(C) will make the IMF’s and the World Bank’s advice and operations fully consistent with the objectives of poverty reduction through broad-based economic growth; and

(D) should include—

(i) implementation of transparent budgetary procedures and mechanisms to help ensure that the financial benefits of debt relief under the modified Heavily Indebted Poor Countries Initiative (as defined in section 262p–6 of this title) are applied to programs that combat poverty; and

(ii) monitorable indicators of progress in poverty reduction.

(2) The adoption of procedures for periodic comprehensive reviews of reformed ESAF and IDA programs to help ensure progress toward longer-term poverty goals outlined in the Poverty Reduction Strategies and to allow adjustments in such programs.

(3) The publication of the PRSPs prior to Executive Board review of related programs under IDA and the reformed ESAF.

(4) The establishment of a standing evaluation unit at the IMF, similar to the Operations Evaluation Department of the World Bank, that would report directly to the Executive Board of the IMF and that would undertake periodic reviews of IMF operations, including the operations of the reformed ESAF, including—

(A) assessments of experience under the reformed ESAF programs in the areas of poverty reduction, economic growth, and access to basic social services;

(B) assessments of the extent and quality of participation in program design by citizens;

(C) verifications that reformed ESAF programs are designed in a manner consistent with the Poverty Reduction Strategies; and

(D) prompt release to the public of all reviews by the standing evaluation unit.

(5) The promotion of clearer conditionality in IDA and reformed ESAF programs that focuses on reforms most likely to support poverty reduction through broad-based economic growth.

(6) The adoption by the IMF of policies aimed at reforming ESAF so that reformed ESAF programs are consistent with the Poverty Reduction Strategies.

(7) The adoption by the World Bank of policies to help ensure that its lending operations in countries eligible for debt relief under the modified Heavily Indebted Poor Countries Initiative are consistent with the Poverty Reduction Strategies.

(8) Strengthening the linkage between borrower country performance and lending operations by IDA and the reformed ESAF on the basis of clear and monitorable indictors.11 So in original. Probably should be “indicators”.

(9) Full public disclosure of the proposed objectives and financial organization of the successor to the ESAF at least 90 days before any decision by the Executive Board of the IMF to consider its adoption.

(Pub. L. 95–118, title XVI, § 1624, as added Pub. L. 106–113, div. B, § 1000(a)(5) [title V, § 502], Nov. 29, 1999, 113 Stat. 1536, 1501A–314.)

Notes

Statutory Notes and Related Subsidiaries

Definitions The definitions in section 262p–5 of this title apply to this section.