119th CONGRESS 1st Session
To require the Secretary of the Treasury to pursue more equitable treatment of Taiwan at the international financial institutions, and for other purposes.
IN THE SENATE OF THE UNITED STATES · May 22, 2025 · Sponsor: Mr. McCormick · Committee: Committee on Foreign Relations
Nothing in this Act may be construed as a basis for supporting the exclusion or expulsion of Taiwan from continued membership in any international financial institution or any other international organization. Public Law 96–8some kind of association between Taiwan and the FundRecognizing Taiwan’s important role in transnational issues, we will support its membership in organizations where statehood is not a prerequisite, and we will support opportunities for Taiwan’s voice to be heard in organizations where its membership is not possible.U.S. Relations with Taiwan The United States supports Taiwan’s membership in international organizations that do not require statehood as a condition of membership and encourages Taiwan’s meaningful participation in international organizations where its membership is not possible.membership shall be open to other countriesMembership and Nonmembership in the International Monetary Fund: A Study in International Law and Organization countries the absence of any adjective in the Articles emphasizes the breadth of the discretion that the Fund may exercise in admitting countries to membership countries,statesin the practice of the Fund the concepts of independence and sovereignty have been avoided on the whole as a mode of expressing a criterion for membership in the Fund Although the Fund usually takes into account the recognition or nonrecognition of an entity as a state, there are no rules or even informal understandings on the extent to which an applicant must have been recognized by members or other international organizations before the Fund will regard it as eligible for membership. there have been occasions on which the Fund has made a finding before decisions had been taken by the United Nations or by most members or by members with a majority of the total voting power.robust, meaningful participation As the international community faces an unprecedented number of complex and global issues, it is critical for all stakeholders to help address these problems. This includes the 24 million people who live in Taiwan. Taiwan’s meaningful participation in the UN system is not a political issue, but a pragmatic one. Taiwan’s exclusion undermines the important work of the UN and its related bodies, all of which stand to benefit greatly from its contributions.Taiwan’s membership at the IMF would help boost financial resilience.Fund (in this section referred to as the ) shall use the voice and vote of the United States to vigorously support—