The U.S. House of Representatives on Jan. 12 passed a bipartisan bill sponsored by U.S. Rep. Young Kim (R-CA) that supports Taiwan’s participation in the International Monetary Fund (IMF).
“I am proud this bipartisan bill just passed the House, and I thank my colleagues for joining me to support Taiwan in the IMF,” Rep. Kim said on the House floor. “I will keep fighting to get this bill signed into law and will always be a voice in support of our freedom-loving allies and democracy around the globe.”
The Taiwan Non-Discrimination Act, H.R. 540, which Rep. Kim introduced in January 2023 with lead original cosponsor U.S. Rep. Al Green (D-TX), would ensure the U.S. governor of the IMF advocates for Taiwan’s admission into the IMF as a member, as well as the country’s participation in the IMF’s regular surveillance activities relating to Taiwan’s economic and financial policies.
Additionally, the U.S. governor of the IMF would advocate for employment opportunities at the IMF for Taiwan nationals, and for Taiwan’s ability to receive IMF technical assistance and training, according to a bill summary provided by Rep. Kim’s staff.
“As the 21st-largest economy in the world, 10th-largest trading partner of the United States, and a proven friend in freedom and global health security, Taiwan deserves a seat at the IMF,” said Rep. Kim. “We cannot stand idly by as the Chinese Communist Party silences Taiwan in international organizations.”
H.R. 540, the congresswoman said, “will solidify Taiwan’s rightful place on the global stage and expand opportunities for collaboration and economic growth by joining the IMF.”
The U.S. Senate on Tuesday received H.R. 540 and referred it to the U.S. Senate Foreign Relations Committee for consideration.
“With this bill, Congress recognizes the importance of Taiwan’s inclusion into one of the most critical financial institutions in the world as a means of expanding global economic progress as well as democratic values,” Rep. Green said.