The US House of Representatives on Monday advanced a bill that supports Taiwan’s return to the IMF due to its stature in the global economy.
The House unanimously passed the Taiwan Non-Discrimination Act, which stipulates that the US secretary of the treasury, who serves as the US governor to the IMF, should “vigorously support the admission of Taiwan as a member” in the institution.
The IMF, which has 191 members, promotes global financial stability and economic growth by providing financial assistance, policy advice and economic surveillance to members.
Photo: AFP
The Republic of China was a founding member of the IMF before its place was taken by the People’s Republic of China in 1980, nine years after Taipei lost its UN seat.
Before the bill was to put to a vote, one of its initiators, US Representative Young Kim, spoke in support of Taiwan.
“Taiwan — the 21st-largest economy in the world and producer of 90 percent of the world’s advanced semiconductor chip supply — doesn’t just deserve a seat at the table at the IMF. The free world needs Taiwan at the IMF,” Kim said.
“We cannot be complicit as international organizations cede leverage to Beijing and silence Taiwan’s voice,” she said. “I thank my colleagues for joining me to support Taiwan’s participation in the IMF, and I will keep fighting to get this to [US] President [Donald] Trump’s desk.”
US Representative Al Green, another initiator of the bill, said that supporting Taiwan to join the IMF is “a commonsense, bipartisan measure that furthers the long-term interests of both Taiwan and the US.”
“Taiwan’s expertise developing one of the largest and most complex economies in the world would bring a valuable perspective to multilateral economic organizations,” Green said.
The bill still needs the approval of the US Senate before the president can sign it into law or veto it.
A similar piece of legislation passed the House in the previous Congress, but failed to pass the Senate.
In Taipei, Ministry of Foreign Affairs spokesman Hsiao Kuang-wei (蕭光偉) thanked the House for unanimously passing the bill.
The move fully demonstrates the US’ bipartisan and firm support for Taiwan’s participation in international organizations and greater international space, and further highlights Taiwan’s economic resilience and importance as a global partner, Hsiao said.
“The advancement of the act has positive significance on supporting Taiwan’s greater global participation and in countering China’s pressure on Taiwan,” he said.
Additional reporting by Lee I-chia
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