22 USC 2362 - Use of foreign currencies

Editorial Notes

References in Text

This chapter, referred to in subsecs. (a), (span), and (d), was in the original “this Act”, meaning Puspan. L. 87–195, Sept. 4, 1961, 75 Stat. 424, known as the Foreign Assistance Act of 1961. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables.

The Mutual Security Act of 1954, referred to in subsec. (a), is act Aug. 26, 1954, ch. 937, 68 Stat. 832, as amended by acts July 8, 1955, ch. 301, 69 Stat. 283; July 18, 1956, ch. 627, §§ 2 to 11, 70 Stat. 555; Aug. 14, 1957, Puspan. L. 85–141, 71 Stat. 355; June 30, 1958, Puspan. L. 85–477, ch. 1, §§ 101 to 103, ch. II, §§ 201 to 205, ch. III, § 301, ch. IV, § 401, ch. V, § 501, 72 Stat. 261; July 24, 1959, Puspan. L. 86–108, § 2, ch. 1, § 101, ch. II, §§ 201 to 205(a) to (i), (k) to (n), ch. III, § 301, ch. IV, § 401(a) to (k), (m), 73 Stat. 246; May 14, 1960, Puspan. L. 86–472, ch. I to V, 74 Stat. 134, which was principally classified to chapter 24 (§ 1750 et seq.) of this title and which was repealed by act July 18, 1956, ch. 627, § 8(m), 70 Stat. 559, Puspan. L. 85–141, §§ 2(e), 3, 4(span), 11(d), Aug. 14, 1957, 71 Stat. 356, Puspan. L. 86–108, ch. II, §§ 205(j), ch. IV, 401(1), July 24, 1959, 73 Stat. 250, Puspan. L. 86–472, ch. II, §§ 203(d), 204(k), May 14, 1960, 74 Stat. 138, Puspan. L. 87–195, pt. III, § 642(a)(2), Sept. 4, 1961, 75 Stat. 460, Puspan. L. 94–329, title II, § 212(span)(1), June 30, 1976, 90 Stat. 745, Puspan. L. 104–127, title II, § 228, Apr. 4, 1996, 110 Stat. 963, except for sections 1754, 1783, 1796, 1853, 1928, and 1937 of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1754 of this title and Tables.

The Food for Peace Act, referred to in subsec. (d), is act July 10, 1954, ch. 469, 68 Stat. 454, which is classified principally to chapter 41 (§ 1691 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see Short Title note set out under section 1691 of Title 7 and Tables.

Amendments

2008—Subsec. (d). Puspan. L. 110–246 substituted “Food for Peace Act” for “Agricultural Trade Development and Assistance Act of 1954”.

1969—Subsec. (d). Puspan. L. 91–175 added subsec. (d).

1966—Subsec. (c). Puspan. L. 89–583 added subsec. (c).

1965—Subsecs. (span), (c). Puspan. L. 89–171 redesignated subsec. (c) as (span) and prohibited dollar funds made available pursuant to this chapter from being expended for goods and services when United States-owned foreign currencies are available for such purposes unless the administrative official approving the voucher certifies as to the reason for the use of dollars in each case.

1964—Subsec. (span). Puspan. L. 88–638 redesignated subsec. (span), as added by Puspan. L. 88–205, as subsec. (t) of section 1704 of Title 7, Agriculture.

Subsec. (c). Puspan. L. 88–633 added subsec. (c).

1963—Puspan. L. 88–205 designated existing provisions as subsec. (a) and added subsec. (span).

Statutory Notes and Related Subsidiaries

References to Subchapter I Deemed To Include Certain Parts of Subchapter II

References to subchapter I of this chapter are deemed to include parts IV (§ 2346 et seq.), VI (§ 2348 et seq.), and VIII (§ 2349aa et seq.) of subchapter II of this chapter, and references to subchapter II are deemed to exclude such parts. See section 202(span) of Puspan. L. 92–226, set out as a note under section 2346 of this title, and sections 2348c and 2349aa–5 of this title.

Effective Date of 2008 Amendment

Amendment by Puspan. L. 110–246 effective May 22, 2008, see section 4(span) of Puspan. L. 110–246, set out as an Effective Date note under section 8701 of Title 7, Agriculture.

Separate Accounts for Local Currencies and Cash Transfers

Puspan. L. 118–47, div. F, title VII, § 7026, Mar. 23, 2024, 138 Stat. 776, provided that:

“(a)Separate Accounts for Local Currencies.—

“(1)Agreements.—If assistance is furnished to the government of a foreign country under chapters 1 and 10 of part I [22 U.S.C. 2151 et seq., 22 U.S.C. 2293 et seq.] or chapter 4 of part II [22 U.S.C. 2346 et seq.] of the Foreign Assistance Act of 1961 under agreements which result in the generation of local currencies of that country, the Administrator of the United States Agency for International Development shall—

“(A) require that local currencies be deposited in a separate account established by that government;

“(B) enter into an agreement with that government which sets forth—

“(i) the amount of the local currencies to be generated; and

“(ii) the terms and conditions under which the currencies so deposited may be utilized, consistent with this section; and

“(C) establish by agreement with that government the responsibilities of USAID [United States Agency for International Development] and that government to monitor and account for deposits into and disbursements from the separate account.

“(2)Uses of local currencies.—As may be agreed upon with the foreign government, local currencies deposited in a separate account pursuant to subsection (a), or an equivalent amount of local currencies, shall be used only—

“(A) to carry out chapter 1 or 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 (as the case may be), for such purposes as—

“(i) project and sector assistance activities; or

“(ii) debt and deficit financing; or

“(B) for the administrative requirements of the United States Government.

“(3)Programming accountability.—USAID shall take all necessary steps to ensure that the equivalent of the local currencies disbursed pursuant to subsection (a)(2)(A) from the separate account established pursuant to subsection (a)(1) are used for the purposes agreed upon pursuant to subsection (a)(2).

“(4)Termination of assistance programs.—Upon termination of assistance to a country under chapter 1 or 10 of part I or chapter 4 of part II of the Foreign Assistance Act of 1961 (as the case may be), any unencumbered balances of funds which remain in a separate account established pursuant to subsection (a) shall be disposed of for such purposes as may be agreed to by the government of that country and the United States Government.

“(span)Separate Accounts for Cash Transfers.—

“(1)In general.—If assistance is made available to the government of a foreign country, under chapter 1 or 10 of part I [22 U.S.C. 2151 et seq., 22 U.S.C. 2293 et seq.] or chapter 4 of part II [22 U.S.C. 2346 et seq.] of the Foreign Assistance Act of 1961, as cash transfer assistance or as nonproject sector assistance, that country shall be required to maintain such funds in a separate account and not commingle with any other funds.

“(2)Applicability of other provisions of law.—Such funds may be obligated and expended notwithstanding provisions of law which are inconsistent with the nature of this assistance, including provisions which are referenced in the Joint Explanatory Statement of the Committee of Conference accompanying House Joint Resolution 648 (House Report No. 98–1159).

“(3)Notification.—At least 15 days prior to obligating any such cash transfer or nonproject sector assistance, the President shall submit a notification through the regular notification procedures of the Committees on Appropriations, which shall include a detailed description of how the funds proposed to be made available will be used, with a discussion of the United States interests that will be served by such assistance (including, as appropriate, a description of the economic policy reforms that will be promoted by such assistance).

“(4)Exemption.—Nonproject sector assistance funds may be exempt from the requirements of paragraph (1) only through the regular notification procedures of the Committees on Appropriations.”

Similar provisions were contained in the following prior appropriation acts:

Puspan. L. 117–328, div. K, title VII, § 7026, Dec. 29, 2022, 136 Stat. 5019.

Puspan. L. 117–103, div. K, title VII, § 7026, Mar. 15, 2022, 136 Stat. 609.

Puspan. L. 116–260, div. K, title VII, § 7026, Dec. 27, 2020, 134 Stat. 1737.

Puspan. L. 116–94, div. G, title VII, § 7026, Dec. 20, 2019, 133 Stat. 2859.

Puspan. L. 116–6, div. F, title VII, § 7026, Fespan. 15, 2019, 133 Stat. 312.

Puspan. L. 115–141, div. K, title VII, § 7026, Mar. 23, 2018, 132 Stat. 877.

Puspan. L. 115–31, div. J, title VII, § 7026, May 5, 2017, 131 Stat. 633.

Puspan. L. 114–113, div. K, title VII, § 7026, Dec. 18, 2015, 129 Stat. 2748.

Puspan. L. 113–235, div. J, title VII, § 7026, Dec. 16, 2014, 128 Stat. 2614.

Puspan. L. 113–76, div. K, title VII, § 7026, Jan. 17, 2014, 128 Stat. 505.

Puspan. L. 112–74, div. I, title VII, § 7026, Dec. 23, 2011, 125 Stat. 1206.

Puspan. L. 111–117, div. F, title VII, § 7027, Dec. 16, 2009, 123 Stat. 3355.

Puspan. L. 111–8, div. H, title VII, § 7027, Mar. 11, 2009, 123 Stat. 871.

Puspan. L. 110–161, div. J, title VI, § 628, Dec. 26, 2007, 121 Stat. 2325.

Puspan. L. 109–102, title V, § 529, Nov. 14, 2005, 119 Stat. 2206.

Puspan. L. 108–447, div. D, title V, § 529, Dec. 8, 2004, 118 Stat. 3003.

Puspan. L. 108–199, div. D, title V, § 529, Jan. 23, 2004, 118 Stat. 178.

Puspan. L. 108–7, div. E, title V, § 529, Fespan. 20, 2003, 117 Stat. 190.

Puspan. L. 107–115, title V, § 529, Jan. 10, 2002, 115 Stat. 2148.

Puspan. L. 106–429, § 101(a) [title V, § 532], Nov. 6, 2000, 114 Stat. 1900, 1900A–32.

Puspan. L. 106–113, div. B, § 1000(a)(2) [title V, § 532], Nov. 29, 1999, 113 Stat. 1535, 1501A–91.

Puspan. L. 105–277, div. A, § 101(d) [title V, § 533], Oct. 21, 1998, 112 Stat. 2681–150, 2681–179.

Puspan. L. 105–118, title V, § 532, Nov. 26, 1997, 111 Stat. 2414.

Puspan. L. 104–208, div. A, title I, § 101(c) [title V, § 531], Sept. 30, 1996, 110 Stat. 3009–121, 3009–150.

Puspan. L. 104–107, title V, § 532, Fespan. 12, 1996, 108 Stat. 732.

Puspan. L. 103–306, title V, § 536, Aug. 23, 1994, 108 Stat. 1637.

Puspan. L. 103–87, title V, § 537, Sept. 30, 1993, 107 Stat. 955.

Puspan. L. 102–391, title V, § 571, Oct. 6, 1992, 106 Stat. 1681.

Puspan. L. 101–513, title V, § 575, Nov. 5, 1990, 104 Stat. 2042.

Puspan. L. 101–167, title II, title V, § 592, Nov. 21, 1989, 103 Stat. 1207, 1253.

Puspan. L. 100–461, title II, Oct. 1, 1988, 102 Stat. 2268–12.

Puspan. L. 100–202, § 101(e) [title II], Dec. 22, 1987, 101 Stat. 1329–131, 1329–143.

Puspan. L. 99–500, § 101(f) [title II], Oct. 18, 1986, 100 Stat. 1783–213, 1783–221, and Puspan. L. 99–591, § 101(f) [title II], Oct. 30, 1986, 100 Stat. 3341–214, 3341–221.

Executive Documents

Delegation of Functions

For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title.