Sponsors (2)
Introduced May 6, 2025 by Maxine Waters · Last progress May 6, 2025
The bill increases U.S. oversight, transparency, civil‑society engagement, and financing capacity in IMF and MDB activity—improving accountability and offering relief to vulnerable borrowers—while raising administrative burdens, politicizing multilateral decisions, and committing substantial U.S. funds and contingent liabilities that could raise costs for taxpayers and complicate rapid responses.
Borrowers, project beneficiaries, and the public get clearer, more public information about IMF/MDB loans and projects — improving transparency, helping communities understand who benefits and reducing opportunities for corruption.
Nonprofits, civil-society groups, and local stakeholders gain formal consultation channels and stronger accountability mechanisms (IAMs, SEA prevention, semiannual meetings), increasing oversight of project design and safeguards.
Low‑income and disaster‑affected countries can pause IMF repayments and benefit from stronger debt sustainability analysis, reducing immediate fiscal strain and helping governments protect social and climate spending after shocks.
Nonprofits, MDBs, and Treasury will face increased administrative and reporting burdens that could slow project approvals, raise costs, and reduce implementation speed.
Requiring congressional authorization for withdrawals and directing U.S. Executive Directors on specific votes limits executive flexibility and risks politicizing technical MDB/IMF decisions, potentially hindering rapid crisis responses and complicating multilateral consensus.
U.S. taxpayers face substantial near-term appropriations and contingent liabilities (roughly $8.8 billion in appropriations and callable capital), increasing federal outlays and the risk of future calls on U.S. funds during MDB crises.
Based on analysis of 9 sections of legislative text.
Directs Treasury to push IFIs for greater transparency, civil-society engagement, IMF debt relief options and anti-corruption measures, and authorizes multibillion-dollar U.S. capital contributions to MDBs.
Directs the Treasury to use the U.S. voice, vote, and influence at major international financial institutions (IFIs) to require more project-level transparency, stronger civil-society engagement, anti-corruption rules, and changes to debt and program policies at the IMF and multilateral development banks. It also limits the Executive Branch’s ability to withdraw from or stop legally required U.S. funding for IFIs without an act of Congress. Requires new reporting and regular consultations with civil-society groups, changes to how some IFI securities are treated under U.S. securities law (with a short delay for that change), and authorizes several U.S. capital contributions to regional development banks totaling billions of dollars in appropriations authority.