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United States · Bill · S

S. 4139 (116th)

Support for Global Financial Institution Pandemic Response Act of 2020

referredUnited States· United States Congress· EN

Introduced

1 July 2020

Last action

1 July 2020 · Introduced

Status

Read twice and referred to the Committee on Foreign Relations. (text: CR S4139)

Sponsors

Sen. Durbin, Richard J. [D-IL], Sen. Sanders, Bernard [I-VT], Sen. Reed, Jack [D-RI], Sen. Cardin, Benjamin L. [D-MD], Sen. Merkley, Jeff [D-OR]

Subjects

Healthcare, Taxation

Source updated

14 January 2025

Healthcare · Taxation

Official sourceDownload fileView documentsShare

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 1 July 2020

    Introduced

    Read twice and referred to the Committee on Foreign Relations. (text: CR S4139)

    Source: IntroReferral

  2. 1 July 2020

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 1 July 2020

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  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 1 July 2020

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  • Introduced in Senate

    summary · EN · 1 July 2020

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Sponsors

Related records

Sources

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