3.0.0 4139 2023-01-11T13:45:42Z 2023-01-11T13:45:42Z Senate S 2020-07-01 116 ssfr00 Foreign Relations Committee Senate Standing Referred to 2020-07-01T21:36:01Z Robust International Response to Pandemic Act 116 6581 HR 2020-04-21 Referred to the House Committee on Financial Services. Related bill CRS 2020-07-01 ssfr00 Foreign Relations Committee Senate Read twice and referred to the Committee on Foreign Relations. (text: CR S4139) IntroReferral 2020-07-01 Introduced in Senate IntroReferral 10000 9 Library of Congress D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. N S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2020-07-01 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2020-07-01 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2020-07-01 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2020-07-01 True International Affairs Budget deficits and national debt Cardiovascular and respiratory health Congressional oversight Debt collection Diplomacy, foreign officials, Americans abroad Economic development Economic performance and conditions Emergency medical services and trauma care Foreign aid and international relief Foreign loans and debt Health programs administration and funding Infectious and parasitic diseases International monetary system and foreign exchange International organizations and cooperation Multilateral development programs World health International Affairs 00 2020-07-01 Introduced in Senate 2020-07-27T18:48:05Z Support for Global Financial Institution Pandemic Response Act of 2020

This bill requires 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. Executive Director at the International Monetary Fund must support the issuance of Special Drawing Rights so that governments may access additional resources to finance their responses to COVID-19.

]]> Support for Global Financial Institution Pandemic Response Act of 2020 Display Title Support for Global Financial Institution Pandemic Response Act of 2020 Short Title(s) as Introduced Support for Global Financial Institution Pandemic Response Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to encourage support by international financial institutions for a robust global response to the COVID-19 pandemic. Introduced in Senate IS Introduced in Senate 2020-07-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4139is/xml/BILLS-116s4139is.xml 2020-07-01 Read twice and referred to the Committee on Foreign Relations. (text: CR S4139) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.