S. 2101 — International Monetary Stability Act of 2000

Summary

International Monetary Stability Act of 2000 - Authorizes the Secretary of the Treasury to certify a foreign country as officially dollarized (when a country substantially or totally eliminates its domestic currency and adopts the U.S. dollar as legal tender), after consideration of whether the country has taken specified actions with respect to its currency. Directs the Secretary, upon certification of a country, to pay to such country, every three months, an amount equal to a specified formula. Provides for a lump sum payment to foreign countries that have been certified for a four month period. Prohibits the previously dollarized Republic of the Marshall Islands, the Federated States of Micronesia, the Republic of Palau, Panama, East Timor, the Turks and Caicos Islands, the Republic of Ecuador, and the British Virgin Islands from being issued payments under this Act until specified conditions are met.

Authorizes appropriations.

Legislative Actions

2000-02-24

Introduced in Senate

2000-02-24

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2000-07-13

Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.

2000-07-24

Committee on Banking, Housing, and Urban Affairs. Reported by Senator Mack with an amendment in the nature of a substitute. With written report No. 106-354. Additional views filed.

2000-07-24

Committee on Banking, Housing, and Urban Affairs. Reported by Senator Mack with an amendment in the nature of a substitute. With written report No. 106-354. Additional views filed.

2000-07-24

Placed on Senate Legislative Calendar under General Orders. Calendar No. 705.

2000-07-26

Star Print ordered on the report.

International Monetary Stability Act of 2000

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