Bill 119 s 1153, also known as the "Prohibition of Special Drawing Rights for Genocide and Terrorism Act," aims to prevent the International Monetary Fund (IMF) from providing Special Drawing Rights (SDRs) to countries that are known perpetrators of genocide or state sponsors of terrorism without first obtaining authorization from the US Congress.
The bill specifically targets countries that have been identified as engaging in acts of genocide or supporting terrorist activities. By prohibiting the allocation of SDRs to these countries without congressional approval, the bill seeks to hold these nations accountable for their actions and prevent them from receiving financial support from the IMF.
The bill highlights the importance of ensuring that US taxpayer dollars are not used to support countries that are responsible for heinous crimes against humanity or that actively support terrorist organizations. By requiring congressional authorization for the allocation of SDRs to these countries, the bill aims to increase transparency and oversight in the distribution of IMF funds.
Overall, Bill 119 s 1153 seeks to promote accountability and prevent the misuse of IMF resources by countries that engage in genocide or support terrorism. It underscores the importance of upholding human rights and combating terrorism on a global scale.