The US House of Representatives' passage of a bill that supports Taiwan's return to the IMF is a sign of bipartisan US support for Taiwan’s international participation and resistance against China’s suppression of the nation, Ministry of Foreign Affairs spokesman Hsiao Kuang-wei (蕭光偉) said today.
It also reinforces Taiwan’s importance as a partner on the global stage, Hsiao said.
The House yesterday unanimously passed the Taiwan Non-Discrimination Act of 2025 (H.R. 910), which stipulates that the US secretary of the treasury, who also serves as the US governor to the IMF, should "vigorously support the admission of Taiwan as a member" in the institution.
Photo: Taipei Times file photo
The bill must be approved by the US Senate before the president can sign it into law.
The ministry thanked the House for unanimously passing the bill, Hsiao said.
It would continue to closely monitor developments and maintain ties with US lawmakers and Washington to keep building momentum in the push to expand Taiwan’s international participation, Hsiao said.
The Republic of China, Taiwan's official name, was a founding member of the IMF in 1944. However, nine years after the People’s Republic of China took Taiwan’s place in the UN in 1971, Beijing joined the IMF, effectively pushing Taiwan out.
If signed into law, the bill would “require the [US] Department of the Treasury to support Taiwan’s admission to the IMF or participation in activities of the Fund before it becomes a member.”
Joining the IMF would enable Taiwan to benefit from economic surveillance and technical assistance, and allow Taiwanese nationals to work at the institution.
The bill was proposed by US representatives Young Kim and Al Green.
China could try to use tariffs and stock market disruptions to destabilize Taiwan’s financial system, and joining the IMF would help Taipei access the resources required to counter these risks, the representatives said.
There would be three main benefits to Taiwan joining the IMF, said Darson Chiu (邱達生), an economics professor at Tunghai University in Taichung and director-general of the Confederation of Asia-Pacific Chambers of Commerce and Industry.
First, it would boost international recognition of Taiwan and its sovereign status, while assuring international investors and credit ratings agencies that Taiwan’s economic system is stable, Chiu said.
That would, in turn, improve Taiwan’s sovereign credit rating, make it easier to attract foreign investment and significantly elevate its global profile, he said.
Second, the IMF could assist in maintaining Taiwan’s economic and financial stability, Chiu said.
For example, South Korea received financial assistance from the IMF during the 1997 Asian financial crisis, and the IMF provided support to multiple countries during the European debt crisis, he said.
Third, the IMF has a robust team of economic experts, whose reports, research and resources could assist in bolstering Taiwan’s policy design and risk forecasting capabilities, Chiu said.
Taiwan would also be able to participate in annual meetings and share its views on international economic rules and policies, he added.
Additional reporting by CNA
The Ministry of Foreign Affairs (MOFA) yesterday voiced dissatisfaction with the Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP), whose latest meeting, concluded earlier the same day, appeared not to address the country’s application. In a statement, MOFA said the CPTPP commission had "once again failed to fairly process Taiwan’s application," attributing the inaction to the bloc’s "succumbing to political pressure," without elaborating. Taiwan submitted its CPTPP application under the name "Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu" on Sept. 22, 2021 -- less than a week after China
THE GOOD WORD: More than 100 colleges on both sides of the Pacific will work together to bring students to Taiwan so they can learn Mandarin where it is spoken A total of 102 universities from Taiwan and the US are collaborating in a push to promote Taiwan as the first-choice place to learn Mandarin, with seven Mandarin learning centers stood up in the US to train and support teachers, the Foundation for International Cooperation in Higher Education of Taiwan (FICHET) said. At the annual convention of the American Council on the Teaching of Foreign Languages held over the weekend in New Orleans, Louisiana, a Taiwan Pavilion was jointly run by 17 representative teams from the FICHET, the Overseas Community Affairs Council, the Steering Committee for the Test of Proficiency-Huayu, the
A home-style restaurant opened by a Taiwanese woman in Quezon City in Metro Manila has been featured in the first-ever Michelin Guide honoring exceptional restaurants in the Philippines. The restaurant, Fong Wei Wu (豐味屋), was one of 74 eateries to receive a “Michelin Selected” honor in the guide, while one restaurant received two Michelin stars, eight received one star and 25 were awarded a “Bib Gourmand.” The guide, which was limited to restaurants in Metro Manila and Cebu, was published on Oct. 30. In an interview, Feng Wei Wu’s owner and chef, Linda, said that as a restaurateur in her 60s, receiving an
MORE RETALIATION: China would adopt a long-term pressure strategy to prevent other countries or future prime ministers following in Sanae Takaichi’s steps, an academic said Taiwan should maintain communications with Japan, as Japanese Prime Minister Sanae Takaichi is to lead a revision of security documents, Taiwanese academics said yesterday. Tensions have risen between Japan and China over remarks by Takaichi earlier this month that the use of force against Taiwan would constitute a “survival-threatening situation” for Japan. Prospect Foundation president Lai I-chung (賴怡忠) yesterday said Takaichi’s stance regarding Taiwan is the same as past Japanese prime ministers, but her position is clearer than that of her predecessors Fumio Kishida and Shigeru Ishiba. Although Japan views a “Taiwan contingency” as a “survival-threatening situation,” which would allow its military to
RSS