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Support for IMF Surcharge Policy Review

This act aims to reduce borrowing costs for developing nations, potentially stabilizing their economies and preventing debt crises. Citizens in these countries may experience improved access to essential services like food, healthcare, and education, as funds are freed from surcharge payments.
Key points
Calls for an immediate review of the International Monetary Fund's (IMF) surcharge policy, to be completed within 365 days.
Proposes suspending and waiving IMF surcharge payments during the review period, potentially offering relief to indebted nations.
The review will assess the impact of surcharges on countries' spending on debt, food security, health, and education, as well as their effectiveness and unintended consequences.
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Expired
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Additional Information
Print number: 118_HR_7902
Sponsor: Rep. García, Jesús G. "Chuy" [D-IL-4]
Process start date: 2024-04-09
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stop Onerous Surcharges Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7902.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-04-09.

What are the main provisions?

Key points include:

  • Calls for an immediate review of the International Monetary Fund's (IMF) surcharge policy, to be completed within 365 days.
  • Proposes suspending and waiving IMF surcharge payments during the review period, potentially offering relief to indebted nations.
  • The review will assess the impact of surcharges on countries' spending on debt, food security, health, and education, as well as their effectiveness and unintended consequences.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. García, Jesús G. "Chuy" [D-IL-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Public Investments