Pub. L. 114-113, div. K, tit. IX (as amended)

9007.Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit to the Committees on Appropriations and Foreign Relations of the Senate and the Committees on Appropriations and Financial Services of the House of Representatives a written report on ways to improve the effectiveness, and mitigate the risks, of United States participation in the International Monetary Fund (the Fund) that includes the following:(1)An analysis of recent changes to the surveillance products and policies of the Fund and whether those products and policies effectively address the shortcomings of surveillance by the Fund in the periods preceding the global financial crisis that began in 2008 and the European debt crisis that began in 2009.(2)A discussion of ways to better encourage countries to implement policy recommendations of the Fund, including—(A)whether the implementation rate of such policy recommendations would increase if the Fund provided regular status reports on whether countries have implemented its policy recommendations; and(B)whether or not lending by the Fund should be limited to countries that have taken necessary steps to implement such policy recommendations, including an analysis of the potential effectiveness of that limitation.(3)An analysis of the transparency policy of the Fund, ways that transparency policy can be improved, and whether such improvements would be beneficial.(4)A detailed analysis of the riskiness of exceptional access loans provided by the Fund, including—(A)whether the additional interest rate surcharge is working as intended to discourage large and prolonged use of resources of the Fund; and(B)whether it would be beneficial for the Fund to require collateral when making exceptional access loans, and how requiring collateral would affect the make-up of exceptional access loans and the demand for such loans.(5)A description of how the classification of loans provided by the Fund would change if Fund quotas were increased under the amendments to the Articles of Agreement of the Fund proposed in resolution 66-2 of the Board of Governors of the Fund, including an assessment of how the quota increase would affect the classification of exceptional access loans outstanding as of the date of the report and whether the quota increase would lead to revisions of the classification of such loans.(6)A discussion and analysis of lessons learned from the lending arrangements that included the Fund, the European Commission, and the European Central Bank (commonly referred to as the Troika) during the European debt crisis.(7)An analysis of the risks or benefits of increasing the transparency of the technical assistance projects of the Fund, including a discussion of—(A)the advantages and disadvantages of the current technical assistance disclosure policies of the Fund;(B)how technical assistance from the Fund could be better used to prevent crises from happening in the future; and(C)whether and how the Fund coordinates technical assistance projects with other organizations, including the United States Department of the Treasury, to avoid duplication of efforts.