The Annual Testimony of the Secretary of the Treasury on the State of the... (EventID=116084)

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Connect with the House Financial Services Committee Get the latest news: https://democrats-financialservices.house.gov/ Follow us on Facebook: https://www.facebook.com/HouseFinancialCmte Follow us on Twitter: https://twitter.com/FSCDems ___________________________________ On Tuesday, June 13, 2023, at 10:00 a.m. (ET) full Committee Chairman McHenry and Ranking Member Waters will host a hearing entitled, “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System." ___________________________________ Witness for this one-panel hearing will be: • The Honorable Janet L. Yellen, Secretary of the Treasury ___________________________________ Background The Secretary of the Treasury is required by law to testify each year before the Financial Services Committee, with a particular focus on the following four areas: 1) progress made in reforming the International Monetary Fund (IMF); 2) the status of efforts to reform the international financial system; 3) the compliance of countries that have received assistance from the IMF with agreements they entered into as a condition for receiving IMF assistance; and 4) the status of implementation of international anti-money laundering and counterterrorist financing standards by the IMF, the multilateral development banks, and other multilateral financial policymaking bodies. The Biden Administration is undertaking several initiatives with respect to the IMF and other international financial institutions (IFIs), including: a governance review at the Fund, discussions over an “Evolution Roadmap” at the World Bank, and a potential capital increase at the European Bank for Reconstruction and Development. This hearing may explore these topics and other matters concerning the international work of the Treasury Department. Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=410529