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
Tropical Storm Nari is not a threat to Taiwan, based on its positioning and trajectory, the Central Weather Administration (CWA) said yesterday. Nari has strengthened from a tropical depression that was positioned south of Japan, it said. The eye of the storm is about 2,100km east of Taipei, with a north-northeast trajectory moving toward the eastern seaboard of Japan, CWA data showed. Based on its current path, the storm would not affect Taiwan, the agency said.
The Taipei Department of Health’s latest inspection of fresh fruit and vegetables sold in local markets revealed a 25 percent failure rate, with most contraventions involving excessive pesticide residues, while two durians were also found to contain heavy metal cadmium at levels exceeding safety limits. Health Food and Drug Division Director Lin Kuan-chen (林冠蓁) yesterday said the agency routinely conducts inspections of fresh produce sold at traditional markets, supermarkets, hypermarkets, retail outlets and restaurants, testing for pesticide residues and other harmful substances. In its most recent inspection, conducted in May, the department randomly collected 52 samples from various locations, with testing showing
The government should improve children’s outdoor spaces and accelerate carbon reduction programs, as the risk of heat-related injury due to high summer temperatures rises each year, Greenpeace told a news conference yesterday. Greenpeace examined summer temperatures in Taipei, New Taipei City, Taoyuan, Hsinchu City, Taichung, Tainan and Kaohsiung to determine the effects of high temperatures and climate change on children’s outdoor activities, citing data garnered by China Medical University, which defines a wet-bulb globe temperature (WBGT) of 29°C or higher as posing the risk of heat-related injury. According to the Central Weather Administration, WBGT, commonly referred to as the heat index, estimates
Taipei and other northern cities are to host air-raid drills from 1:30pm to 2pm tomorrow as part of urban resilience drills held alongside the Han Kuang exercises, Taiwan’s largest annual military exercises. Taipei, New Taipei City, Keelung, Taoyuan, Yilan County, Hsinchu City and Hsinchu County are to hold the annual Wanan air defense exercise tomorrow, following similar drills held in central and southern Taiwan yesterday and today respectively. The Taipei Mass Rapid Transit (MRT) and Maokong Gondola are to run as usual, although stations and passenger parking lots would have an “entry only, no exit” policy once air raid sirens sound, Taipei
RSS