; (2) independent pro-democracy organizations in Nicaragua; (3) free and fair elections overseen by credible domestic and international observers in Nicaragua; and (4) anti-corruption and transparency efforts in Nicaragua. 4. International financial institutions (a) In general The President shall instruct the United States Executive Director at each international financial institution to use the voice and vote of the United States to oppose any loan for budget support for the Government of Nicaragua, other than to address basic human needs or to promote democracy, unless, in the preceding 12 months, the Secretary of State has certified and reported to the appropriate congressional committees that the Government of Nicaragua is taking effective steps— (1) to hold free and fair elections overseen by credible domestic and international electoral observers; (2) to promote democracy, as well as an independent judicial system and electoral council; (3) to strengthen the rule of law; (4) to respect the right to freedom of expression and association; (5) to combat corruption, including investigating and prosecuting government officials credibly alleged to be corrupt; (6) to protect the right of political opposition parties, journalists, trade unionists, human rights defenders, and other civil society activists to operate without interference; and (7) to protect the rights of indigenous people. (b) Report Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit, to the appropriate congressional committees, a written report assessing— (1) the effectiveness of the international financial institutions in enforcing applicable program safeguards in Nicaragua