,i #aah? ,,congress #b;d ,session ,h4 ,r4 #gijb ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,april #i1 #bjbd,mr4 ,g>ca ( ,ill9ois 7= himself1 ,mrs4 ,beatty1 ,ms4 ,pett]s51 ,mr4 ,cleav]1 ,mr4 ,v>gas1 ,ms4 ,williams ( ,georgia1 ,ms4 ,tlaib1 ,ms4 ,pressley1 & ,ms4 ,jayapal7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to support a review ( sur*>ge policy at ! ,int]national ,monet>y ,fund4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,/op ,on]\s ,sur*>ges ,act4 #b4 ,unit$ /ates support = a review ( sur*>ge policy at ! ,int]national ,monet>y ,fund 7a7 ,f9d+s ,! ,congress f9ds ! foll[+3 7#a7 ,! ,int]national ,monet>y ,fund 7,,imf7 imposes a sur*>ge1 9 addition to /&>d int]e/ & s]vice fees1 ( #bjj basis po9ts on out/&+ cr$it provid$ ?r\gh its ,g5]al ,res\rces ,acc\nt t exce$s #ahg4e p]c5t ( ! ,,imf c\ntry quota1 & an additional #ajj basis po9ts if t cr$it has be5 out/&+ = ov] #cf or #ea mon?s1 dep5d+ on ! facility4 7#b7 ,accord+ to ! ,,imf1 ,^! level & "t-bas$ sur*>ges are int5d$ to help mitigate cr$it risk by provid+ memb]s ) inc5tives to limit _! dem& = ,fund assi/ance & enc\rage timely repur*ases :ile at ! same "t g5]at+ income = ! ,fund to accumulate precaution>y balances44 7#c7 ,sur*>ges sub/antially increase ! co/ ( borr[+ f ! ,,imf1 con/itut+1 on av]age1 an e/imat$ #ci p]c5t ( conv5tional *>ges paid by affect$ c\ntries 9 ! pa/ #e ye>s4 ,ov] ! next #e ye>s1 sur*>ges w make up an e/imat$ #ci p]c5t ( ,ecuador's nonpr9cipal paym5ts on its ,,imf l5d+ program1 & #bd p]c5t ( ,egypt's4 7#d7 ,despite ,russia's illegal invasion1 ,ukra9e rema9s "o ( ! c\ntries mo/ heavily burd5$ by sur*>ges4 ,f #bjbd to #bjbh1 ,ukra9e is expect$ to pay ! ,,imf approximately #a1ejj1jjj1jjj 9 sur*>ges alone4 7#e7 ,! ,james ,m4 ,inh(e ,national ,def5se ,au?orization ,act = ,fiscal ,ye> #bjbc 7,public ,law #aag-bfc71 :i* became law on ,decemb] #bc1 #bjbb1 includ$ language d]iv$ f ! ,ukra9e ,compreh5sive ,debt ,paym5t ,relief ,act ( #bjbb4 ,! ,ukra9e ,compreh5sive ,debt ,paym5t ,relief ,act ( #bjbb requires ! ,dep>tm5t ( ,treasury to make ef=ts to secure debt relief = ,ukra9e1 & 0 pass$ by ! ,h\se ( ,repres5tatives on ,may #aa1 #bjbb1 ) ov]:elm+ bip>tisan support4 7#f7 ,z a result ( ! w> 9 ,ukra9e & o!r factors1 9 ,janu>y #bjbd1 ! ,_w ,bank =eca/ t ! _w w\ld exp]i5ce ! wor/ #e-ye> p]iod ( gr[? 9 #cj ye>s4 ,! ext]nal public debt ( develop+ economies is at record levels1 & ! ,_w ,bank1 ,,imf1 & ,unit$ ,nations h all w>n$ ( com+ defaults & a pot5tial global debt crisis4 ,due to conflict1 economic conditions1 & environm5tal factors1 ! ,_w ,food ,program e/imates t #ghc1jjj1jjj p are fac+ extreme hung]1 & m ?an #ccc1jjj1jjj p are fac+ acute levels ( food insecurity4 7#g7 ,(ficial data %[s t ! numb] ( c\ntries pay+ sur*>ges to ! ,,imf has ne>ly tripl$ s9ce #bjai1 & _m m c\ntries are e/imat$ to h debt burd5s ne> ! ?re%old4 7#h7 ,9 a #bjbb /atem5t1 doz5s ( =m] heads ( /ate & gov]nm5t f across ! political spectrum1 includ+ ,unit$ ,/ates allies su* z ! ,unit$ ,k+dom & ,ukra9e1 h call$ = ! imm$iate susp5sion ( ,,imf sur*>ges4 7#i7 ,an ,april #bjbb brief f ! ,unit$ ,nations ,global ,crisis ,response ,gr\p on ,food1 ,en]gy1 & ,f9ance on ! impacts ( ! w> 9 ,ukra9e on develop+ c\ntries call$ = ! imm$iate susp5sion ( sur*>ge paym5ts = a m9imum ( #b ye>s1 because sur*>ges d n make s5se dur+ a global crisis s9ce ! ne$ = m f9anc+ does n /em f national conditions b f ! global economy %ock4 7#aj7 ,9 ,octob] #bjbc1 ,int]national ,monet>y & ,f9ancial ,committee ,*air ,nadia ,calvio /at$ t ! ,fund w consid] a review ( sur*>ge policies4 7#aa7 ,accord+ to ,deputy ,"u ,secret>y = ,int]national ,f9ance ,br5t ,neiman1 ,*9a became ! _w's l>ge/ (ficial cr$itor 9 #bjag1 surpass+ ! claims ( ! ,_w ,bank1 ,,imf1 & all ,p>is ,club (ficial cr$itors comb9$44 ,by dramatically increas+ ! co/ ( borr[+ f ! ,,imf1 sur*>ges may inc5tivize develop+ nations to seek f9anc+ f alt]native s\rces l ,*9a4 7b7 ,review ( sur*>ge policy at ! ,int]national ,monet>y ,fund ,! ,secret>y ( ! ,treasury %all in/ruct ! ,unit$ ,/ates ,executive ,director at ! ,int]national ,monet>y ,fund 7,,imf7 to use ! voice & vote ( ! ,unit$ ,/ates to-- 7#a7 initiate an imm$iate review by ! ,,imf ( its sur*>ge policy1 to be complet$1 & its results & und]ly+ data publi%$1 )9 #cfe days2 & 7#b7 susp5d & waive sur*>ge paym5ts dur+ ! p5d5cy ( ! review4 7c7 ,compon5ts ( ! review ( sur*>ge policy ,! review ref]r$ to 9 subsection 7b7 %all include ! foll[+3 7#a7 ,a borr[]-by-borr[] analysis ( sur*>ges 9 t]ms ( co/ & z a p]c5tage ( national sp5d+ on debt s]vice on ,,imf loans1 food security1 heal?1 & education = ! #e-ye> p]iod beg9n+ ,janu>y #a1 #bjah4 7#b7 ,evaluation ( ! policy's effectiv5ess at a*iev+ its goals (-- 7,a7 dis9c5tiviz+ l>ge & prolong$ reliance on ,,imf cr$it2 7,b7 mitigat+ ! cr$it risks tak5 by ! ,,imf2 7,c7 improv+ borr[] balance ( paym5ts & debt su/a9ability1 p>ticul>ly dur+ p]iods ( contraction1 unre/1 public heal? em]g5cy1 high int]e/ rates1 & high global prices ( commodities2 & 7,d7 promot+ fiscally responsible policy re=ms4 7#c7 ,evaluation ( ! policy's pot5tial un9t5d$ consequ5ces (-- 7,a7 inc5tiviz+ borr[]s to seek opaque & pot5tially pr$atory bilat]al loans2 & 7,b7 h9d]+ ! ability ( borr[]s to repay private cr$itors & access ! private cr$it m>ket4 7#d7 ,recomm5dations =-- 7,a7 id5tify+ alt]native s\rces ( fund+ = ! ,,imf's precaution>y balances t prioritize /able fund+ s\rces & equitable burd5-%>+ among ,,imf memb]s2 & 7,b7 det]m9+ :e!r ! ,fund %\ld ma9ta91 re=m1 tempor>ily susp5d1 or elim9ate ! use ( sur*>ges4 7#e7 ,ext5sive consultation ) relevant exp]ts1 p>ticul>ly ^? f c\ntries t are curr5tly pay+ or h rec5tly paid sur*>ges4 ,^! exp]ts %\ld include gov]nm5t (ficials responsible = ov]see+ economic developm5t1 fiscal policy1 heal? c>e & o!r social s]vices1 & def5se1 z well z exp]ts 9 global f9ancial policy1 global risk analy/s1 academics1 & civil society repres5tatives4