Open Eye

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117th Congress · House

Sovereign Debt Contract Capacity Act

Subjects: Budget deficits and national debt · Congressional oversight · Foreign Trade and International Finance · Foreign aid and international relief · Foreign loans and debt · International monetary system and foreign exchange · International Affairs

In plain language

  • House bill in the 117th Congress.
  • Requires the Department of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund.
  • House passed it on Oct 26, 2021 (substantive).
Official summary (Congressional Research Service)

Sovereign Debt Contract Capacity Act This bill requires the Department of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund to advocate for the fund to promote international standards and best practices with respect to sovereign debt contracts and to provide technical assistance to fund members. Such assistance should focus on lower middle-income countries in order to enhance their capacity to evaluate the legal and financial terms of sovereign debt contracts with private sector creditors.

View this measure on congress.gov

Roll-call votes on this measure