H.R.6581 - Robust International Response to Pandemic Act116th Congress (2019-2020)
|Sponsor:||Rep. Garcia, Jesus G. "Chuy" [D-IL-4] (Introduced 04/21/2020)|
|Committees:||House - Financial Services|
|Latest Action:||House - 04/21/2020 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
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Summary: H.R.6581 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (04/21/2020)
Robust International Response to Pandemic Act
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 (1) seek the suspension of debt service payments to the institution and the relaxation of fiscal targets for certain programs, and (2) oppose programs or loan agreements that would reduce countries' health care spending or other spending related to their responses to COVID-19. Further, the U.S. Executive Director at the International Monetary Fund must support the issuance of Special Drawing Rights (a currency support tool) so that governments may access additional resources to finance their responses to COVID-19.