II 

117TH CONGRESS 

1ST SESSION S. 67 

To support efforts by international financial institutions to provide a robust 

global response to the COVID–19 pandemic. 

IN THE SENATE OF THE UNITED STATES 

JANUARY 27, 2021 

Mr. DURBIN (for himself, Mr. SANDERS, Mr. REED, Mr. CARDIN, Mr. 

MERKLEY, and Mr. LEAHY) introduced the following bill; which was read 

twice and referred to the Committee on Foreign Relations 

A BILL 

To support efforts by international financial institutions to 

provide a robust global response to the COVID–19 pandemic. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Support for Global 

5 Financial Institution Pandemic Response Act of 2021’’. 

6 SEC. 2. SUPPORT FOR A ROBUST GLOBAL RESPONSE TO 

7 THE COVID–19 PANDEMIC. 

8 (a) UNITED STATES POLICIES AT THE INTER9 NATIONAL FINANCIAL INSTITUTIONS.— 


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1 (1) IN GENERAL.—The Secretary of the Treas2 ury shall instruct the United States Executive Direc3 tor of each international financial institution (as de4 fined in section 1701(c)(2) of the International Fi5 nancial Institutions Act (22 U.S.C. 262r(c)(2)) to 

6 use the voice and vote of the United States at that 

7 institution— 

8 (A) to seek to ensure adequate fiscal space 

9 for world economies in response to the global 

10 coronavirus disease 2019 (commonly referred to 

11 as ‘‘COVID–19’’) pandemic through— 

12 (i) the suspension of all debt service 

13 payments to the institution; and 

14 (ii) the relaxation of fiscal targets for 

15 any government operating a program sup16 ported by the institution, or seeking fi17 nancing from the institution, in response 

18 to the pandemic; 

19 (B) to oppose any loan, grant, document, 

20 or strategy that would lead to a decrease in 

21 health care spending or in any other spending 

22 that would impede the ability of any country to 

23 prevent or contain the spread of, or treat per24 sons who are or may be infected with, the 

25 SARS–CoV–2 virus; and 


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1 (C) to require approval of all Special 

2 Drawing Rights allocation transfers from 

3 wealthier member countries to countries that 

4 are emerging markets or developing countries, 

5 based on confirmation of implementable trans6 parency mechanisms or protocols to ensure the 

7 allocations are used for the public good and in 

8 response the global pandemic. 

9 (2) REPORT REQUIRED.—The Chairman of the 

10 National Advisory Council on International Mone11 tary and Financial Policies shall include in the an12 nual report required by section 1701 of the Inter13 national Financial Institutions Act (22 U.S.C. 262r) 

14 a description of progress made toward advancing the 

15 policies described in paragraph (1). 

16 (b) IMF ISSUANCE OF SPECIAL DRAWING RIGHTS.— 

17 (1) UNITED STATES SUPPORT FOR ISSUANCE.— 

18 The Secretary of the Treasury shall instruct the 

19 United States Executive Director of the Inter20 national Monetary Fund to use the voice and vote of 

21 the United States to support the issuance of a spe22 cial allocation of not less than 2,000,000,000,000 

23 Special Drawing Rights so that governments are 

24 able to access additional resources to finance their 

25 responses to the global COVID–19 pandemic. 


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1 (2) AUTHORIZATION TO VOTE FOR ALLOCA2 TION.—Notwithstanding section 6(a) of the Special 

3 Drawing Rights Act (22 U.S.C. 286q(a)), the 

4 United States Governor of the International Mone5 tary Fund may vote to allocate up to 

6 2,000,000,000,000 Special Drawing Rights under 

7 article XVIII of the Articles of Agreement of the 

8 International Monetary Fund. 

9 (c) TERMINATION.—Subsections (a) and (b) shall 

10 have no force or effect after the earlier of— 

11 (1) the date that is one year after the date of 

12 the enactment of this Act; or 

13 (2) the date that is 30 days after the date on 

14 which the Secretary of the Treasury, in consultation 

15 with the Secretary of Health and Human Services 

16 and the heads of other relevant Federal agencies, 

17 submits to the Committee on Foreign Relations of 

18 the Senate and the Committee on Financial Services 

19 of the House of Representatives a report stating 

20 that the SARS–CoV–2 virus is no longer a serious 

21 threat to public health in any part of the world. 

Æ 


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