No More Debt Relief to China Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9713 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 9713

 To remove the United States from the International Monetary Fund, the
World Bank Group, or the Asian Development Bank if such an institution
assists in providing debt relief to the People's Republic of China, and
                          for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             July 15, 2026

  Mr. Perry introduced the following bill; which was referred to the
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL

 To remove the United States from the International Monetary Fund, the
World Bank Group, or the Asian Development Bank if such an institution
assists in providing debt relief to the People's Republic of China, and
                          for other purposes.

    Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``No More Debt Relief to China Act''.

SEC. 2. WITHDRAWAL OF UNITED STATES FROM CERTAIN INTERNATIONAL
              FINANCIAL INSTITUTIONS IF SUCH AN INSTITUTION PROVIDES
              DEBT RELIEF TO, OR EASES A DEBT RELIEF BURDEN OF, THE
              PEOPLE'S REPUBLIC OF CHINA.

    (a) In General.--
            (1) Withdrawal from the international monetary fund.--The
        Secretary of the Treasury shall immediately transmit to the
        International Monetary Fund a written notice of the withdrawal
        of the United States from the International Monetary Fund if
        the Secretary determines that the International Monetary Fund
        has provided any relief to the People's Republic of China with
        respect to any loan made, in whole or in part, by the
        International Monetary Fund to the People's Republic of China.
            (2) Withdrawal from the world bank group or the asian
        development bank.--The Secretary of the Treasury shall
        immediately transmit to each institution in the World Bank
        Group or the Asian Development Bank a written notice of the
        withdrawal of the United States from each institution in the
        World Bank Group or the Asian Development Bank, respectively,
        if the Secretary of the Treasury determines that an institution
        in the World Bank Group or the Asian Development Bank,
        respectively--
                    (A) has provided any relief to a country with
                respect to any loan made, in whole or in part, by the
                respective institution to the country; and
                    (B) the provision of the relief has aided the
                People's Republic of China in providing relief to the
                country with respect to any loan made, in whole or in
                part, by the People's Republic of China to the country.
    (b) Completion of Withdrawal.--Within 60 days after the
transmission of a notice under subsection (a), the Secretary of the
Treasury shall complete the process of withdrawing the United States
from the institution involved.
    (c) Report to Congress.--If the Secretary of the Treasury does not
comply with subsection (b), the President of the United States shall
submit to the Congress a report specifying the reasons for the
noncompliance within 30 days after the end of the 60-day period
provided in subsection (b).
    (d) Prohibition on Re-Joining.--The United States may not become a
member of any institution from which the United States has withdrawn
pursuant to this section.

SEC. 3. OPPOSITION OF IMF RELIEF FOR THE PEOPLE'S REPUBLIC OF CHINA.

    The Secretary of the Treasury shall instruct the United States
Executive Director at the International Monetary Fund to use the voice
and vote of the United States to oppose the provision by the
International Monetary fund of any relief described in section 2(a).

SEC. 4. MONTHLY REPORT ON FINANCIAL TRANSACTIONS MADE BY THE
              INTERNATIONAL MONETARY FUND, THE WORLD BANK GROUP, OR THE
              ASIAN DEVELOPMENT BANK.

    The Secretary of the Treasury shall obtain from the International
Monetary Fund, each institution in the World Bank Group, and the Asian
Development Bank a monthly report on all financial transactions made by
the respective institution, including any funds provided to the
People's Republic of China, or debt of the People's Republic of China
that has been forgiven, in the month covered by the report, and on
receipt of any such report shall transmit the report to the Congress.

SEC. 5. CONGRESSIONAL AUTHORITY TO DIRECT UNITED STATES POLICY IN
              INTERNATIONAL FINANCIAL INSTITUTIONS.

    It is the policy of the United States that the Congress has the
authority to direct the actions of the United States in any
international financial institution (as defined in section 1701(c)(2)
of the International Financial Institutions Act).
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