International Financial Institution Improvements Act of 2025
Sponsored By: Representative Waters
Introduced
Summary
This bill would reorient U.S. engagement with international financial institutions around transparency and accountability. It would push the IMF and multilateral development banks to adopt stronger governance, public reporting, civil‑society consultation, and to expand capital and quota actions.
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- Host-country citizens and civil society: Would require U.S. executive directors to press IFIs to publish accessible project descriptions, pricing, and financial obligations, hold semiannual consultations with civil‑society actors including women’s rights groups and care workers, and expand monitoring and complaint rights.
- Borrowing countries and debt relief: Would direct Treasury to seek IMF reforms including a 41.5 billion SDR quota increase and changes to debt‑sustainability rules that add Sustainable Development Goal investments to fiscal projections, require tougher stress tests, and set 5‑year debt‑relief windows or GDP recovery targets.
- U.S. finance, MDB operations, and accountability: Would authorize capital and share increases and require $7.8 billion for African Development Bank callable capital plus other replenishment funding, totaling about $8.8 billion in U.S. appropriations, while pressing for stronger anti‑corruption, human‑rights, and independent accountability measures.
*If enacted, it would increase federal commitments by about $8.8 billion in authorized appropriations.*
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Bill Overview
Analyzed Economic Effects
14 provisions identified: 10 benefits, 1 costs, 3 mixed.
More U.S. funding for dev banks
If enacted, the U.S. could subscribe to $7.8 billion in callable capital for the African Development Bank, buy $439.1 million in paid‑in shares at the EBRD, and contribute $591 million to the African Development Fund. Any purchase or contribution would still depend on later appropriations by Congress.
IMF funding: bigger U.S. stake
If enacted, the U.S. could consent to raise its IMF quota by 41,497,100,000 SDRs, but only if Congress provides money in advance. The current U.S. authorization under the IMF’s New Arrangements to Borrow would end when the IMF rolls back our NAB credit line, and not before the quota increase takes effect. Treasury would also back IMF support for the Resilience and Sustainability Trust and the Poverty Reduction and Growth Trust.
More openness at development banks
If enacted, Treasury would press development banks to publish loan contracts, disclose detailed data on private deals and PPPs, use open competition, and explain how they calculate climate impacts. Banks would be urged to adopt anti‑reprisal rules and strengthen independent complaint systems, including limits on exiting projects during active complaints. The World Bank would be urged to post a yearly database of all aid to eligible countries and to help deny safe havens for stolen assets.
Tougher safeguards for port projects
If enacted, Treasury would urge the World Bank to require strong risk plans for port and shipping loans. Plans would cover security staff with compliance officers, better ship tracking, integrated systems, regular audits and inspections, community engagement, satellite surveillance, and safe whistleblower reporting with incentives.
Find and fix World Bank delays
If enacted, Treasury would direct U.S. representatives to study why World Bank projects get delayed and how to speed them up. The Secretary would send an initial report within 180 days, and a follow‑up report 180 days after that on actions taken.
IMF loans: stronger anti-corruption
If enacted, Treasury would push the IMF to avoid loan rules that cut health, education, or climate spending or that raise regressive taxes. It would press for clear, time-bound anti-corruption commitments, public governance diagnostics, civil-society input, and no waivers for lack of political will. Treasury would also send Congress a yearly report on IMF surcharges and whether those fees harm countries’ ability to repay. That reporting would end one year after the IMF stops surcharges.
No unilateral U.S. exit from IFIs
If enacted, the U.S. could not withdraw from, end participation in, or withhold legally required payments to international financial institutions without a new law from Congress. This would keep funding commitments in place unless Congress authorizes changes.
SEC exemption for IDA bonds
If enacted, securities issued or guaranteed by the International Development Association would be exempt from certain SEC rules. The SEC could still require reports and could suspend the exemption. The change would take effect 30 days after enactment.
Cut reliance on Russian farm supplies
If enacted, Treasury would urge international financial institutions to support projects that reduce dependence on Russian fertilizer and grain, boost global grain resilience, and draw private investment. The Secretary could waive this instruction in the national interest. The section would end after five years or sooner if the President reports that ending it serves the national interest.
Keep World Bank pause for Burma
If enacted, Treasury would tell the U.S. World Bank representative to keep pausing disbursements and new financing to Burma. The pause would continue unless the Secretary finds that continuing it is not in the public interest.
Plan World Bank support for Haiti
If enacted, Treasury would press the World Bank to create a long‑term economic plan for Haiti. The Secretary would send Congress an analysis and recommendations within 180 days.
Reports on abuses in bank projects
If enacted, Treasury would report to Congress every two years on human rights accusations at private‑sector hospital investments and push for independent reviews of those investments. Treasury would also provide quarterly reports for three years on the World Bank’s actions to compensate survivors of abuse tied to the Bridge Academies project, including any efforts to block information sharing.
IMF deputy for poorer countries
If enacted, Treasury would urge the IMF to add a Fifth Deputy Managing Director from a low‑ or middle‑income country. This Deputy would represent those countries other than China.
Pause IMF debt after disasters
If enacted, Treasury would urge the IMF to let low‑income or small states pause all IMF debt payments and interest after a climate disaster. The pause would last 5 years or until a country’s GDP is at least 80% of pre‑disaster levels, whichever is later.
Sponsors & CoSponsors
Sponsor
Waters
CA • D
Cosponsors
Beatty
OH • D
Sponsored 5/6/2025
Roll Call Votes
No roll call votes available for this bill.
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