22 U.S.C. § 286mm — Measures to reduce military spending by developing nations

(a) Development by Fund of means to measure military spending (1) Position of the United States. The United States Executive Director of the IMF ("the Fund") must use the U.S. voice and vote to urge the Fund, working with the World Bank, to keep developing an economic method for measuring the level of military spending by each developing country. (2) Progress report to the Congress. Within one year after October 24, 1992, the Secretary of the Treasury must report to the House Committee on Banking, Finance and Urban Affairs, the Senate Committee on Banking, Housing, and Urban Affairs, and the Senate Committee on Foreign Relations on the status of the Fund's work developing this method. (b) Annual reports by Fund on levels of military spending Starting with 1994, the U.S. Executive Director must use the U.S. voice and vote to urge the Fund to give its Executive Board annual reports. Each report must estimate the level of military spending by each developing country in the prior calendar year (or, for countries whose fiscal year isn't the calendar year, their most recently completed fiscal year), by the date of the Fund's annual fall Interim and Development Committee meetings. (c) Analysis and assessment of military spending in article IV consultations Starting no later than the date of the first report described in subsection (b), the U.S. Executive Director must use the U.S. voice and vote to urge the Fund to include, in every Article IV consultation with a developing country, an analysis of that country's military spending in the prior calendar year (or its most recently completed fiscal year, if different).