IB
Union Calendar No. 10
119THCONGRESS
1
STSESSION H. R. 910
[Report No. 119–20]
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 HOUSE OF REPRESENTATIVES
FEBRUARY4, 2025
Mrs. K
IM(for herself and Mr. GREENof Texas) introduced the following bill;
which was referred to the Committee on Financial Services
M
ARCH21, 2025
Additional sponsors: Mr. L
AWLERand Mr. LIEU
M
ARCH21, 2025
Reported with an amendment, committed to the Committee of the Whole
House on the State of the Union, and ordered to be printed
[Strike out all after the enacting clause and insert the part printed in italic]
[For text of introduced bill, see copy of bill as introduced on February 4, 2025]
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•HR 910 RH
A BILL
To require the Secretary of the Treasury to pursue more
equitable treatment of Taiwan at the international finan-
cial institutions, and for other purposes.
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•HR 910 RH
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Taiwan Non-Discrimi-4
nation Act of 2025’’. 5
SEC. 2. FINDINGS. 6
Congress finds as follows: 7
(1) As enshrined in its Articles of Agreement, the 8
International Monetary Fund (IMF) is devoted to 9
promoting international monetary cooperation, facili-10
tating the expansion and balanced growth of inter-11
national trade, encouraging exchange stability, and 12
avoiding competitive exchange depreciation. 13
(2) Taiwan is the 21st largest economy in the 14
world and the 10th largest goods trading partner of 15
the United States. 16
(3) Although Taiwan is not an IMF member, it 17
is a member of the World Trade Organization, the 18
Asian Development Bank, and the Asia-Pacific Eco-19
nomic Cooperation forum. 20
(4) According to the January 2020 Report on 21
Macroeconomic and Foreign Exchange Policies of 22
Major Trading Partners of the United States, pub-23
lished by the Department of the Treasury, Taiwan 24
held $471,900,000,000 in foreign exchange reserves, 25
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•HR 910 RH
more than major economies such as India, South 1
Korea, and Brazil. 2
(5) According to section 4(d) of the Taiwan Re-3
lations Act (Public Law 96–8), enacted on April 10, 4
1979, ‘‘Nothing in this Act may be construed as a 5
basis for supporting the exclusion or expulsion of Tai-6
wan from continued membership in any international 7
financial institution or any other international orga-8
nization.’’. 9
(6) Taiwan held membership in the IMF for 9 10
years following the recognition of the People’s Repub-11
lic of China (PRC) by the United Nations, and 16 12
Taiwan staff members at the Fund were allowed to 13
continue their employment after the PRC was seated 14
at the IMF in 1980. As James M. Boughton has noted 15
in his Silent Revolution: The International Monetary 16
Fund 1979–1989, even as the PRC was seated, the 17
United States Executive Director to the IMF, Sam Y. 18
Cross, expressed support on behalf of the United 19
States Government for ‘‘some kind of association be-20
tween Taiwan and the Fund’’. 21
(7) On September 27, 1994, in testimony before 22
the Senate Committee on Foreign Relations regarding 23
the 1994 Taiwan Policy Review, then-Assistant Sec-24
retary of State for East Asian and Pacific Affairs 25
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Winston Lord stated: ‘‘Recognizing Taiwan’s impor-1
tant role in transnational issues, we will support its 2
membership in organizations where statehood is not a 3
prerequisite, and we will support opportunities for 4
Taiwan’s voice to be heard in organizations where its 5
membership is not possible.’’. 6
(8) The Congress has repeatedly reaffirmed sup-7
port for this policy, including in Public Laws 107– 8
10, 107–158, 108–28, 108–235, 113–17, and 114–139, 9
and the unanimous House and Senate passage of the 10
Taiwan Allies International Protection and Enhance-11
ment Initiative (TAIPEI) Act of 2019. 12
(9) In its fact sheet, entitled ‘‘U.S. Relations 13
with Taiwan’’, published on August 31, 2018, the De-14
partment of State asserts: ‘‘The United States sup-15
ports Taiwan’s membership in international organi-16
zations that do not require statehood as a condition 17
of membership and encourages Taiwan’s meaningful 18
participation in international organizations where its 19
membership is not possible.’’. 20
(10) According to the Articles of Agreement of 21
the IMF, ‘‘membership shall be open to other coun-22
tries’’, subject to conditions prescribed by the Board 23
of Governors of the IMF. 24
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(11) In the IMF publication ‘‘Membership and 1
Nonmembership in the International Monetary Fund: 2
A Study in International Law and Organization’’, 3
Joseph Gold, the then-General Counsel and Director 4
of the Legal Department of the IMF, elaborated on the 5
differences between the terms ‘‘countries’’ and 6
‘‘states’’, noting that ‘‘the word ‘country’ may have 7
been adopted because of the absence of agreement on 8
the definition of a ‘state’’’ and, with respect to the use 9
of ‘‘countries’’ and applications for IMF membership, 10
‘‘the absence of any adjective in the Articles empha-11
sizes the breadth of the discretion that the Fund may 12
exercise in admitting countries to membership’’. Ac-13
cording to Mr. Gold, ‘‘the desire to give the Fund 14
flexibility in dealing with applications may explain 15
not only the absence of any adjective that qualifies 16
‘countries’ but also the choice of that word itself’’. 17
(12) In his IMF study, Mr. Gold further ob-18
serves, ‘‘in the practice of the Fund the concepts of 19
independence and sovereignty have been avoided on 20
the whole as a mode of expressing a criterion for 21
membership in the Fund’’. He continues, ‘‘Although 22
the Fund usually takes into account the recognition 23
or nonrecognition of an entity as a state, there are no 24
rules or even informal understandings on the extent 25
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to which an applicant must have been recognized by 1
members or other international organizations before 2
the Fund will regard it as eligible for membership.’’. 3
In fact, when considering an application for member-4
ship where the status of an applicant may not be re-5
solved, Mr. Gold writes ‘‘there have been occasions on 6
which the Fund has made a finding before decisions 7
had been taken by the United Nations or by most 8
members or by members with a majority of the total 9
voting power.’’ Mr. Gold concludes, ‘‘the Fund makes 10
its own findings on whether an applicant is a ‘coun-11
try’, and makes them solely for its own purposes.’’. 12
(13) Although not a member state of the United 13
Nations, the Republic of Kosovo is a member of both 14
the IMF and the World Bank, having joined both or-15
ganizations on June 29, 2009. 16
(14) On October 26, 2021, Secretary of State 17
Antony Blinken issued a statement in support of Tai-18
wan’s ‘‘robust, meaningful participation’’ in the 19
United Nations system, which includes the IMF, the 20
World Bank, and other specialized United Nations 21
agencies. Secretary of State Blinken noted, ‘‘As the 22
international community faces an unprecedented 23
number of complex and global issues, it is critical for 24
all stakeholders to help address these problems. This 25
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includes the 24 million people who live in Taiwan. 1
Taiwan’s meaningful participation in the UN system 2
is not a political issue, but a pragmatic one.’’. He 3
continued, ‘‘Taiwan’s exclusion undermines the im-4
portant work of the UN and its related bodies, all of 5
which stand to benefit greatly from its contribu-6
tions.’’. 7
(15) In October 2024, Taiwan announced it 8
would seek IMF membership, with the Taipei Eco-9
nomic and Cultural Representative Office in the 10
United States stating, ‘‘Taiwan’s membership at the 11
IMF would help boost financial resilience.’’. 12
SEC. 3. SENSE OF THE CONGRESS. 13
It is the sense of the Congress that— 14
(1) the size, significance, and connectedness of 15
the Taiwanese economy highlight the importance of 16
greater participation by Taiwan in the International 17
Monetary Fund, given the purposes of the Fund ar-18
ticulated in its Articles of Agreement; and 19
(2) the experience of Taiwan in developing a vi-20
brant and advanced economy under democratic gov-21
ernance and the rule of law should inform the work 22
of the international financial institutions, including 23
through increased participation by Taiwan in the in-24
stitutions. 25
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SEC. 4. SUPPORT FOR TAIWAN ADMISSION TO THE IMF. 1
(a) I
NGENERAL.—The United States Governor of the 2
International Monetary Fund (in this section referred to 3
as the ‘‘Fund’’) shall use the voice and vote of the United 4
States to vigorously support— 5
(1) the admission of Taiwan as a member of the 6
Fund, to the extent that admission is sought by Tai-7
wan; 8
(2) participation by Taiwan in regular surveil-9
lance activities of the Fund with respect to the eco-10
nomic and financial policies of Taiwan, consistent 11
with Article IV consultation procedures of the Fund; 12
(3) employment opportunities for Taiwan na-13
tionals, without regard to any consideration that, in 14
the determination of the United States Governor, does 15
not generally restrict the employment of nationals of 16
member countries of the Fund; and 17
(4) the ability of Taiwan to receive appropriate 18
technical assistance and training by the Fund. 19
(b) U
NITEDSTATESPOLICY.—It is the policy of the 20
United States not to discourage or otherwise deter Taiwan 21
from seeking admission as a member of the Fund. 22
(c) W
AIVER.—The Secretary of the Treasury may 23
waive any requirement of subsection (a) for up to 1 year 24
at a time on reporting to Congress that providing the waiv-25
er will substantially promote the objective of securing the 26
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meaningful participation of Taiwan at each international 1
financial institution (as defined in section 1701(c)(2) of the 2
International Financial Institutions Act (22 U.S.C. 3
262r(c)(2))). 4
(d) S
UNSET.—This section shall have no force or effect 5
on the earlier of— 6
(1) the date of approval by the Board of Gov-7
ernors of the Fund for the admission of Taiwan as a 8
member of the Fund; or 9
(2) the date that is 10 years after the date of the 10
enactment of this Act. 11
SEC. 5. TESTIMONY REQUIREMENT. 12
In each of the next 7 years in which the Secretary of 13
the Treasury is required by section 1705(b) of the Inter-14
national Financial Institutions Act to present testimony, 15
the Secretary shall include in the testimony a description 16
of the efforts of the United States to support the greatest 17
participation practicable by Taiwan at each international 18
financial institution (as defined in section 1701(c)(2) of 19
such Act (22 U.S.C. 262r(c)(2))). 20
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10
119
TH
CONGRESS
1
ST
S
ESSION
H. R. 910
[Report No. 119–20]
A BILL
To require the Secretary of the Treasury to pursue
more equitable treatment of Taiwan at the inter-
national financial institutions, and for other pur-
poses.
M
ARCH
21, 2025
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union,
and ordered to be printed
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