China Exchange Rate Accountability Act of 2026

This bill mandates that the United States use its voice and vote to oppose any quota increase at the International Monetary Fund (IMF) for certain member countries. Before considering a quota increase for one of the 10 largest shareholders in the Fund, the Secretary of the Treasury must submit a report to Congress. This report determines if the member country meets specific criteria regarding its exchange rate practices and data transparency. The criteria for a country to avoid U.S. opposition include adherence to Article VIII obligations of the IMF, maintaining transparent exchange rate policies , and publishing credible balance of payments data . Additionally, if a country has a current account surplus, it must not have persistently managed its exchange rate against the U.S. dollar to prevent balance of payments adjustments or gain unfair competitive advantage. If a country fails to meet any of these criteria, the Secretary of the Treasury must instruct the U.S. Governor of the Fund to oppose the quota increase, though the President can waive this requirement if it is deemed important to the national interest. This section of the Act is set to expire seven years after its enactment.