Legis Daily

IMF Accountability Act of 2023

USA118th CongressS-3150| Senate 
| Updated: 10/26/2023
Rick Scott

Rick Scott

Republican Senator

Florida

Cosponsors (1)
Ted Cruz (Republican)

Foreign Relations Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
IMF Accountability Act of 2023 This bill imposes requirements on U.S. representatives to the International Monetary Fund (IMF) with regard to certain issues involving China, Russia, Iran, North Korea, Cuba, Venezuela, Nicaragua, or Afghanistan while under Taliban control. The President or any U.S. representative to the IMF may not vote to allocate Special Drawing Rights (SDR) to any of these countries unless Congress authorizes such a vote. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.) The bill also requires the Department of the Treasury to direct U.S. representatives to the IMF to oppose any proposal that (1) increases the IMF quota of any of these countries, or (2) modifies certain policies if the modification would allow the IMF to provide funding to any of these countries. (A country's quota determines, among other things, that country's voting power in IMF decisions and access to IMF financing.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 117-3695
IMF Accountability Act of 2022
Oct 26, 2023
Introduced in Senate
Oct 26, 2023
Read twice and referred to the Committee on Foreign Relations.
Nov 29, 2023

Latest Companion Bill Action

HR 118-6502
Introduced in House
  • Bill from Previous Congress

    S 117-3695
    IMF Accountability Act of 2022


  • October 26, 2023
    Introduced in Senate


  • October 26, 2023
    Read twice and referred to the Committee on Foreign Relations.


  • November 29, 2023

    Latest Companion Bill Action

    HR 118-6502
    Introduced in House

International Affairs

Related Bills

  • HR 118-6502: IMF Accountability Act of 2023

IMF Accountability Act of 2023

USA118th CongressS-3150| Senate 
| Updated: 10/26/2023
IMF Accountability Act of 2023 This bill imposes requirements on U.S. representatives to the International Monetary Fund (IMF) with regard to certain issues involving China, Russia, Iran, North Korea, Cuba, Venezuela, Nicaragua, or Afghanistan while under Taliban control. The President or any U.S. representative to the IMF may not vote to allocate Special Drawing Rights (SDR) to any of these countries unless Congress authorizes such a vote. (The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.) The bill also requires the Department of the Treasury to direct U.S. representatives to the IMF to oppose any proposal that (1) increases the IMF quota of any of these countries, or (2) modifies certain policies if the modification would allow the IMF to provide funding to any of these countries. (A country's quota determines, among other things, that country's voting power in IMF decisions and access to IMF financing.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 117-3695
IMF Accountability Act of 2022
Oct 26, 2023
Introduced in Senate
Oct 26, 2023
Read twice and referred to the Committee on Foreign Relations.
Nov 29, 2023

Latest Companion Bill Action

HR 118-6502
Introduced in House
  • Bill from Previous Congress

    S 117-3695
    IMF Accountability Act of 2022


  • October 26, 2023
    Introduced in Senate


  • October 26, 2023
    Read twice and referred to the Committee on Foreign Relations.


  • November 29, 2023

    Latest Companion Bill Action

    HR 118-6502
    Introduced in House
Rick Scott

Rick Scott

Republican Senator

Florida

Cosponsors (1)
Ted Cruz (Republican)

Foreign Relations Committee

International Affairs

Related Bills

  • HR 118-6502: IMF Accountability Act of 2023
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted