1998 International Monetary Fund Appropriations Act

[AI summary unavailable — showing source text] 1998 International Monetary Fund Appropriations Act - Makes appropriations for FY 1998 for: (1) loans to the International Monetary Fund (IMF) under the New Arrangements to Borrow, including specified amounts for Special Drawing Rights; and (2) an increase in the U.S. IMF quota of Special Drawing Rights. (Sec. 101) Prohibits the obligation of funds for the U.S. IMF quota until 30 days after the Secretary of the Treasury certifies that the major IMF shareholders, including the United States, Japan, Germany, France, Italy, the United Kingdom, and Canada have publicly agreed to, and will seek to implement in the IMF, policies that provide for conditions in standby agreements or other arrangements regarding the use of IMF resources, requiring that the recipient country: (1) liberalize restrictions on trade in goods and services and on investment, at a minimum consistent with the terms of all international trade obligations and agreements; and (2) to eliminate the practice or policy of government directed lending on non- commercial terms or provision of market distorting subsidies to favored industries, enterprises, parties, or institutions. Directs the United States to exert its influe…