S. 3695 · 117th Congress
IMF Accountability Act of 2022
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ScottSponsor2 cosponsors · 2 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · Feb 17, 2022
IMF Accountability Act of 2022
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.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: IMF Accountability Act of 2022
Latest action (Feb 17, 2022): Read twice and referred to the Committee on Foreign Relations.
Policy area: International Affairs · Origin: Senate · Introduced: Feb 17, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.