To establish the United States policy on Burma at the International Monetary Fund, the World Bank Group, and the Asian Development Bank, and for other purposes.
3/8/2023, 7:58 PMSummary of Bill HR 6340
Bill 117 hr 6340, also known as the "United States Policy on Burma Act," aims to establish a clear policy regarding Burma's participation in international financial institutions such as the International Monetary Fund (IMF), the World Bank Group, and the Asian Development Bank. The bill seeks to ensure that the United States takes a strong stance on Burma's engagement with these institutions, particularly in light of the country's human rights record and political situation.The bill outlines specific requirements for the United States government to follow in its interactions with these financial institutions in relation to Burma. It calls for the US to advocate for the suspension of Burma's voting rights and access to financial assistance from these institutions until certain conditions are met, such as the release of political prisoners and the establishment of a democratic government.
Additionally, the bill mandates that the US government work with other countries and international organizations to coordinate efforts to address the situation in Burma and promote human rights and democracy in the country. It also requires the US to report to Congress on its actions and progress in implementing the policy outlined in the bill. Overall, Bill 117 hr 6340 aims to hold Burma accountable for its actions and ensure that the United States takes a firm stance on promoting democracy and human rights in the country through its engagement with international financial institutions.
Congressional Summary of HR 6340
This bill establishes a U.S. policy to oppose certain financial assistance to Burma (Myanmar) and addresses related issues.
Specifically, the Department of the Treasury must instruct U.S. representatives to the International Monetary Fund, the World Bank Group, and the Asian Development Bank to inform the respective institution that it is U.S. policy to oppose and vote against any loan or financial assistance to Burma through the State Administration Council or any successor entity controlled by Burma's military. This policy shall not apply to humanitarian assistance implemented by an entity not controlled by Burma's military.
The President may waive this policy on a case-by-case basis upon certifying that doing so would substantially promote delivering humanitarian assistance to Burma's civilian population or otherwise support U.S. national interests.
This policy shall be repealed upon the earlier of (1) the President certifying that certain events have occurred, including Burma's military releasing all political prisoners and the instatement of an elected government following free and fair elections; or (2) 10 years after this bill's enactment.
