ANI
31 Jan 2023, 09:27 GMT+10
Washington [US], January 31 (ANI): The United States House of Representatives introduced a Bill calling on Washington to support Taiwan's participation in the International Monetary Fund (IMF) as a member, Focus Taiwan reported.
US House of Representatives Young Kim and Al Green, on Thursday, introduced the Taiwan Non-Discrimination Act seeks to ensure that the US Governor of the international fund advocates for Taipei and the provision of IMF technical assistance and training to the country.
The Bill also seeks to involve Taiwan's participation in the IMF's regular surveillance activities relating to the nation's economic and financial policies, job opportunities at the IMF for the nationals, and the provision of IMF technical assistance and training to Taipei, as per the report in Focus Taiwan.
The IMF is a global organization of approximately 180 member countries set up to promote the health of the world economy.
"As the 21st largest economy in the world and the 10th largest goods trading partner of the United States, Taiwan deserves a seat at the IMF," Kim, who serves on the House Financial Services Committee and House Foreign Affairs Committee, said in a statement released on January 26.
"I am proud to be a co-lead of the Taiwan Non-Discrimination Act led by Congresswoman Kim. This bill requires the U.S. Governor of the International Monetary Fund (IMF) to use the voice and vote of the U.S. to urge Taiwan's participation and membership in the IMF," Rep. Green said.
"As a leading world economy, Taiwan's experience in promoting sound economic policies can be instrumental in helping the IMF achieve its mission. Thus, it deserves a seat at the table. My hope is that this bill will help steer it toward that direction," he added, according to the statement.
As per the Bill, "Taiwan is the 21st largest economy in the world and the 10th largest goods trading partner of the United States. Although Taiwan is not an IMF member, it is a member of the World Trade Organization, the Asian Development Bank, and the Asia-Pacific Economic Cooperation forum."According to the January 2020 Report on 15 Macroeconomic and Foreign Exchange Policies of 16 Major Trading Partners of the United States, published by the Department of the Treasury, Taiwan 18 held USD 471,900,000,000 in foreign exchange reserves, 19 more than major economies such as India, South 20 Korea, and Brazil.
According to the section of the Taiwan Relations Act (Public Law 96-8), enacted on April 10, 23 1979, ''Nothing in this Act may be construed as a 24 basis for supporting the exclusion or expulsion of 25 Taiwan from continued membership in any international organization.''.
A Bill to promote Taiwan's membership of the IMF was first introduced in May 2020 by then-Rep. Anthony Gonzalez, who did not run for re-election last year.
In November 2021, Gonzalez and Green again presented a bill with the same purpose, which, however, failed to pass the House by the end of its term. (ANI)
Get a daily dose of Illinois Intelligencer news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Illinois Intelligencer.
More InformationSeoul - North Korea fired two short-range ballistic missile toward waters off its eastern coast Monday, adding to a recent ...
Washington - The arrest of actor Jonathan Majors has upended the Army's newly launched advertising campaign that was aimed at ...
Kabul [Afghanistan], March 27 (ANI): The Taliban has once again urged the United Nations (UN) to remove the names of ...
Third-seeded Casper Ruud was the only upset victim on Sunday at the Miami Open, losing in three sets to Botic ...
New Delhi [India], March 27 (ANI): The Supreme Court lawyer Vineet Jindal on Monday filed a complaint in Delhi Police ...
The Czech Republic's Marketa Vondrousova and 18th-seeded Ekaterina Alexandrova of Russia each recorded straight-set upsets on Sunday in the third ...
WASHINGTON D.C.: A new US Congressional committee focusing on China held its second hearing on the alleged abuses of the ...
SAN FRANCISCO, California: A new round of extreme winter weather that hit California, also drifted into neighboring Southwest states, with ...
WASHINGTON D.C.: After several high-profile near collision incidents, the US Federal Aviation Administration (FAA) has issued a safety alerts to ...
PHNOM PENH, Cambodia: Two Cambodian opposition figures--- Yim Sinorn and Hun Kosal--- have been charged under the country's rarely used ...
WASHINGTON D.C.: The US Supreme Court has ruled that a deaf student in Michigan can sue his public school district, ...
MANILA, Philippines: Under a defense agreement with the U.S., four new military bases will be located in various parts of ...