HR 986 · 117th Congress · International Affairs

Robust International Response to Pandemic Act

Introduced 2021-02-11· Sponsored by Rep. Garcia, Jesus G. "Chuy" [D-IL-4]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2021-02-11)

Plain Language Summary

[AI summary unavailable — showing source text] Robust International Response to Pandemic Act This bill requires the Department of the Treasury and each U.S. Executive Director at an international financial institution to take certain actions in support of the global response to COVID-19 (i.e., coronavirus disease 2019). Specifically, each U.S. Executive Director at an international financial institution (e.g., the International Bank for Reconstruction and Development or the International Finance Corporation) must seek the suspension of debt service payments to the institution and the relaxation of fiscal targets for certain programs, oppose programs or loan agreements that would reduce countries' health care spending or other spending related to their responses to COVID-19, and require approval of all Special Drawing Rights (a currency support tool) allocation transfers from wealthier member countries to countries that are emerging or developing to ensure the allocations are used for the public good and in response to the global pandemic. Further, the U.S. Governor at the International Monetary Fund (IMF) must advocate for the issuance of Special Drawing Rights so that governments may access additional resources to finance…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

20 Democrats