II 

117TH CONGRESS 

2D SESSION S. 3695 

To prohibit representatives of the United States from voting at the International Monetary Fund for any Special Drawing Rights allocations, 

quota increases, or policy modifications that would benefit certain countries, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

FEBRUARY 17, 2022 

Mr. SCOTT of Florida (for himself, Mr. CRUZ, and Mr. HAGERTY) introduced 

the following bill; which was read twice and referred to the Committee 

on Foreign Relations 

A BILL 

To prohibit representatives of the United States from voting 

at the International Monetary Fund for any Special 

Drawing Rights allocations, quota increases, or policy 

modifications that would benefit certain countries, and 

for other purposes. 

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 ‘‘IMF Accountability 

5 Act of 2022’’. 


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•S 3695 IS

1 SEC. 2. PROHIBITION ON ALLOCATIONS OF SPECIAL DRAW2 ING RIGHTS BY INTERNATIONAL MONETARY 

3 FUND FOR CERTAIN COUNTRIES WITHOUT 

4 CONGRESSIONAL AUTHORIZATION. 

5 Section 6 of the Special Drawing Rights Act (22 

6 U.S.C. 286q) is amended by adding at the end the fol7 lowing: 

8 ‘‘(c)(1) Unless Congress by law authorizes such ac9 tion, neither the President nor any person or agency shall 

10 on behalf of the United States vote to allocate Special 

11 Drawing Rights under article XVIII, sections 2 and 3, of 

12 the Articles of Agreement of the Fund to any of the fol13 lowing countries: 

14 ‘‘(A) The People’s Republic of China. 

15 ‘‘(B) The Russian Federation. 

16 ‘‘(C) The Islamic Republic of Iran. 

17 ‘‘(D) The Democratic People’s Republic of 

18 Korea. 

19 ‘‘(E) Cuba. 

20 ‘‘(F) Venezuela. 

21 ‘‘(G) Nicaragua. 

22 ‘‘(H) Afghanistan, while under control of 

23 the Taliban. 

24 ‘‘(2) In this paragraph, the term ‘Taliban’ means— 

25 ‘‘(A) the entity known as the Taliban, operating 

26 in Afghanistan, and designated as a specially desVerDate Sep 11 2014 15:47 Feb 23, 2022 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S3695.IS S3695

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•S 3695 IS

1 ignated global terrorist under Executive Order 

2 13224 (50 U.S.C. 1701 note; relating to blocking 

3 property and prohibiting transactions with persons 

4 who commit, threaten to commit, or support ter5 rorism); or 

6 ‘‘(B) a successor entity of the entity described 

7 in subparagraph (A).’’. 

8 SEC. 3. PROHIBITION ON MODIFICATIONS TO QUOTAS AND 

9 POLICIES OF THE INTERNATIONAL MONE10 TARY FUND THAT WOULD BENEFIT CERTAIN 

11 COUNTRIES. 

12 (a) IN GENERAL.—The Secretary of the Treasury 

13 shall direct the United States Executive Director of the 

14 International Monetary Fund to use the voice and vote 

15 of the United States to oppose any proposal— 

16 (1) to increase the quota in the Fund of a 

17 country specified in subsection (b); or 

18 (2) to modify the exceptional access policy of 

19 the Fund if such modification would allow the Fund 

20 to provide funding under such policy to any country 

21 specified in subsection (b). 

22 (b) COUNTRIES SPECIFIED.— The countries specified 

23 in this subsection are the following: 

24 (1) The People’s Republic of China. 

25 (2) The Russian Federation. 


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1 (3) The Islamic Republic of Iran. 

2 (4) The Democratic People’s Republic of Korea. 

3 (5) Cuba. 

4 (6) Venezuela. 

5 (7) Nicaragua. 

6 (8) Afghanistan, while under control of the 

7 Taliban. 

8 (c) TALIBAN DEFINED.—In this section, the term 

9 ‘‘Taliban’’ means— 

10 (1) the entity known as the Taliban, operating 

11 in Afghanistan, and designated as a specially des12 ignated global terrorist under Executive Order 

13 13224 (50 U.S.C. 1701 note; relating to blocking 

14 property and prohibiting transactions with persons 

15 who commit, threaten to commit, or support ter16 rorism); or 

17 (2) a successor entity of the entity described in 

18 paragraph (1). 

Æ 


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