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22 U.S.C. § 262n–1Increase in income and employment in developing countries; enhancement of purchasing power; diversification away from single crop or product economies

submitted 39 years ago by Pub. L. 95-118 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 112 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Treasury Secretary must direct U.S. bank representatives to support broad income and employment growth abroad. This should especially help the rural poor's purchasing power. Banks should also encourage countries to diversify away from single-crop economies.

The Secretary of the Treasury, after consulting the Secretary of Agriculture and, where appropriate, the Secretary of the Interior about commodity markets and prices, must periodically instruct the U.S. Executive Director of each multilateral development bank to work with the other directors to keep: (1) Supporting activities that broadly raise income and employment and boost purchasing power in developing countries, especially for the rural poor. (2) Encouraging developing countries to diversify away from relying on a single crop or product, to reduce big swings in commodity prices and the harm caused by sudden changes in trade terms.
the actual law source: uscode.house.gov ↗public domain

The Secretary of the Treasury, after consultations with the Secretary of Agriculture and the Secretary of the Interior (to the extent appropriate) on markets and prices for commodities, shall periodically instruct the United States Executive Director of each multilateral development bank to work with other executive directors of the respective bank to continue to—

(1)

support activities which result in broad increases in income and employment and enhance purchasing power in developing countries, particularly among the rural poor; and

(2)

encourage diversification away from single crop or product economies in developing countries to help reduce wide fluctuations in commodity prices and the adverse impact of abrupt changes in the terms of trade.

Source credit: (Pub. L. 95–118, title XIV, § 1402, as added Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.)

history & why it existsrecord from the source credit
  • 1987Enacted · Pub. L. 95-118 · 101 Stat. 1329

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-118 on 1987-12-22.

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