22 U.S.C. § 5495 - U.S. Code - Unannotated Title 22. Foreign Relations and Intercourse § 5495. Certain uses of excess foreign currencies

(a)Authority to use

During fiscal year 1990, the Administrator of the Agency for International Development may use, for the purposes described in subsection (b), such sums of foreign currencies described in subsection (c) as the Administrator may determine, subject to subsection (f).

(b)Purposes for which currency may be used

Foreign currencies may be used under this section--

(c)Currencies which may be used

The foreign currencies which may be used under this section are United States-owned excess foreign currencies that are in excess of amounts necessary for satisfaction of preexisting commitments to use such currencies for other purposes specified by law.

(d)Where currencies may be used

Foreign currencies may be used under this section in the country where such currencies are held or in other foreign countries.

(e)Nonapplicability of other provisions of law

Foreign currencies may be used under this section notwithstanding section 1306 of Title 31 or any other provision of law.

(f)Requirement for appropriations action

The authority of this section may be exercised only to such extent or in such amount as may be provided in advance in an appropriation Act.