S. 3057 · 118th Congress
No Dollars for Dictators Act of 2023
- Stage
- In committee
- Sponsor
- John Kennedy
- Introduced
- 2023-10-17
- Latest action
- 2023-10-17 · Introduced in Senate
Summary
No Dollars for Dictators Act of 2023
This bill imposes additional restrictions on the U.S. government's authority to vote on Special Drawing Rights (SDR) allocations at the International Monetary Fund (IMF).
(The SDR is an international reserve asset maintained by the IMF based on contributions from IMF member countries. SDRs may be exchanged between member countries and may also be exchanged for currencies.)
Specifically, U.S. representatives to the IMF may not vote for SDR allocations to a country if the President finds that the country's government has (1) committed genocide in the last 10 years, or (2) repeatedly supported international terrorism.