summary
Introduced
06/23/2021
06/23/2021
In Committee
06/23/2021
06/23/2021
Crossed Over
10/26/2021
10/26/2021
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
AN ACT To require the Secretary of the Treasury to direct the United States Executive Director at the International Monetary Fund to advocate that the Fund provide technical assist- ance to Fund members seeking to enhance their capacity to evaluate the legal and financial terms of sovereign debt contracts, and for other purposes.
AI Summary
This bill, the Sovereign Debt Contract Capacity Act, requires the Secretary of the Treasury to instruct the United States Executive Director at the International Monetary Fund (IMF) to advocate that the IMF promote international standards and best practices for sovereign debt contracts, and provide technical assistance to IMF members, especially lower-middle-income and International Development Association-eligible countries, to help them evaluate the legal and financial terms of their sovereign debt contracts with multilateral, bilateral, and private sector creditors. The bill also requires the Secretary of the Treasury to report annually for the next 5 years on the IMF's implementation of this technical assistance and the effectiveness of the United States' efforts to achieve this policy goal.
Committee Categories
Business and Industry, Government Affairs
Sponsors (2)
Last Action
Received in the Senate and Read twice and referred to the Committee on Foreign Relations. (on 10/26/2021)
Official Document
bill text
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bill summary
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bill summary
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