A Florida Republican lawmaker is introducing a bill to bring congressional authority over the International Monetary Fund (IMF) and prevent the body from giving cash to American adversaries.
Rep. Scott Franklin, R-Fla., is expected to introduce the IMF Accountability Act on Tuesday, which aims to give Congress more authority over how the body allocates special drawing rights (SDRs) and lends money.
The bill would “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.”
Franklin’s bill aims to prevent the IMF from giving funds to American adversaries like China, Iran, North Korea, and others.
Rep. Scott Franklin arrives to a Republican caucus meeting at the U.S. Capitol Building on September 13, 2023, in Washington, DC. (Getty Images)
“You don’t give taxpayer dollars to your enemies – that’s just commonsense,” Franklin said. “Unfortunately, the Biden Administration has allowed the transfer of billions of dollars from the IMF, funded in large part by the U.S., to our adversaries like China, Russia, Iran and North Korea.”
“These funds are used to help them meet their