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US Support Withheld from IMF on Central African Reserves

This act aims to protect American oil and gas companies operating in Central Africa. It withholds US support for the International Monetary Fund (IMF) on matters concerning Central African states until the IMF clarifies whether site rehabilitation funds can be counted as foreign exchange reserves. This seeks to prevent negative impacts on investments and economic stability in the region, indirectly affecting global energy markets and related jobs.
Key points
The US will withhold votes and oppose IMF actions related to Central African states until the IMF clarifies foreign exchange reserve rules.
The goal is to protect American oil companies from unfavorable regulations that could lead to significant financial losses and reduced investment.
The act aims to ensure the IMF clearly defines eligible assets for foreign exchange reserves, enabling countries to maintain stable financial policies.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2325
Sponsor: Rep. Huizenga, Bill [R-MI-4]
Process start date: 2025-03-25
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

CEMAC Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2325.

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 2025-03-25.

What are the main provisions?

Key points include:

  • The US will withhold votes and oppose IMF actions related to Central African states until the IMF clarifies foreign exchange reserve rules.
  • The goal is to protect American oil companies from unfavorable regulations that could lead to significant financial losses and reduced investment.
  • The act aims to ensure the IMF clearly defines eligible assets for foreign exchange reserves, enabling countries to maintain stable financial policies.
What is the specific legal status?

The current status is Introduced.

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. Huizenga, Bill [R-MI-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 2025-12-22.

CATEGORIES

Economy Public Investments