01-HR1688 on May 2, 2001

Title: To direct the International Monetary Fund to oppose any new loan to any country that is acting to restrict oil production to the detriment of the United States economy, except in emergency circumstances.

Summary: Amends the International Financial Institutions Act to direct the U.S. Executive Director at the International Monetary Fund (IMF) to use the U.S. voice, vote, and influence to oppose any new IMF loan to any country which the Secretary of Energy determines is a member of the Organization of Petroleum Exporting Countries (OPEC) and is acting to restrict oil production to the detriment of the U.S. economy, or is acting in concert with OPEC to do so, unless the provision of the loan is necessary to address a systemic risk to the international financial system.

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