22 U.S.C. § 286s — Consideration of basic human needs in economic adjustment programs supported by Fund

(a) Formulation and design of programs The President must instruct the Secretary of the Treasury, the Secretary of State, and other appropriate federal officials to use all appropriate means to encourage countries. When those countries design economic adjustment programs to fix their balance-of-payments problems, they should design them to protect — as much as possible — jobs, investment, real income per person, policies that narrow the gap between rich and poor, and social programs like health, housing, and education. (b) Changes in Fund guidelines, policies, and decisions; review; coordination; periodic analyses To make Fund-supported economic adjustment programs more effective, and to reinforce them with longer-term efforts toward growth and better living conditions: (1) U.S. representatives to the Fund must recommend and work for changes to Fund guidelines, policies, and decisions that would: (A) let standby arrangements run longer than three years, when needed for members to carry out their adjustment programs successfully; (B) require the Fund, before approving any adjustment program, to weigh its effect on jobs, investment, real income per person, the rich-poor wealth gap, and social programs like health, housing, and education — to minimize harm to basic human needs; and (C) require that letters of intent submitted to the Fund show the member country considered those same effects. (2)(A) Before voting to approve any standby arrangement for an economic adjustment program, the U.S. Executive Director must review either: (i) any analysis of those factors that the Fund or the member country already prepared under (1)(B) and (1)(C); or (ii) if no such analysis exists, one the U.S. Governor of the Fund must prepare examining the program's effect on those same factors. (B) The U.S. Executive Director must take that analysis into account when voting on the standby arrangement. (3) U.S. representatives to the Fund, the World Bank, and other relevant institutions must work to improve coordination among them. In particular, they must push for programs — alongside Fund-supported adjustment programs — that (A) promote employment, investment, real income per person, better income distribution, and social program goals like health, housing, and education, and (B) as much as is feasible and consistent with the country's need to fix its balance of payments in a reasonable time, ease any harm the adjustment programs cause to the poor. (4) U.S. representatives to the Fund and Bank must seek changes to how each institution's resources are used. When a country seeks Extended Fund Facility or upper-credit-tranche drawings from the Fund and also qualifies for World Bank financing, the Fund and Bank must coordinate their financing to: (A) account for how adjustment programs affect the areas listed in (3)(A); (B) provide, where feasible, Bank project loans designed to protect and support basic human needs in countries running Fund-supported adjustment programs; and (C) provide, as appropriate, Bank financing for structural-adjustment programs that build a productive economic base and better achieve basic-human-needs goals over the longer term. (5) U.S. representatives to the Fund and Bank must ask both institutions to regularly analyze how their supported adjustment programs affect jobs, investment, real income per person, income distribution, and social programs like health, housing, and education.