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Arab League Boycott of Israel [August 25, 2017]
"The Arab League, an umbrella organization comprising 22 Middle Eastern and African countries and entities, has maintained an official boycott of Israeli companies and Israeli-made goods since the founding of Israel in 1948. The boycott is administered by the Damascus-based Central Boycott Office, a specialized bureau of the Arab League. The boycott has three tiers. The primary boycott prohibits citizens of an Arab League member from buying from, selling to, or entering into a business contract with either the Israeli government or an Israeli citizen. The secondary boycott extends the primary boycott to any entity world-wide that does business in Israel. A blacklist of global firms that engage in business with Israel is maintained by the Central Boycott Office, and disseminated to Arab League members. The tertiary boycott prohibits an Arab League member and its nationals from doing business with a company that deals with companies that have been blacklisted by the Arab League."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2017-08-25
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Strategic Competition and Foreign Policy: What is 'Political Warfare'? [March 8, 2019]
From the Document: "In recent years, scholars have formed a consensus around the notion that the United States has reentered an international strategic competition with other great powers, notably Russia and China. This great power competition has political, economic and military dimensions, with potentially far-reaching implications for U.S. foreign and national security policy."
Library of Congress. Congressional Research Service
McInnis, Kathleen J.; Weiss, Martin A.
2019-03-08
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U.S. Dollar Intervention: Options and Issues for Congress [August 21, 2019]
From the Document: "After falling to its lowest value since the introduction of floating currencies in 1973, the U.S. dollar has appreciated by 25% between July 2011 and July 2019--its highest value since the early 2000s. President Trump and others have argued that the dollar's current relative strength is holding back growth since a strong dollar makes U.S. exports more expensive in foreign markets while at the same time making it difficult for domestic producers to compete with cheaper imports. This has raised questions about what policy options are available to potentially reduce the value of the dollar. Interventions are more likely to succeed if paired with fiscal or monetary policy changes and supported by major trading partners."
Library of Congress. Congressional Research Service
Labonte, Marc; Weiss, Martin A.
2019-08-21
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Global Economic Effects of COVID-19: In Brief [Updated March 17, 2020]
From the Overview: "Since the World Health Organization (WHO) first declared Covid-19 a world health emergency in January 2020, the virus has been detected in over 100 countries and almost all U.S. states. The infection has sickened more than 150,000 people, with fatalities. On March 11, the WHO announced that the outbreak was officially a pandemic, the highest level of health emergency. During that time, it has become clear that the outbreak is negatively impacting global economic growth. The virus is affecting a broad swath of economic activities, from tourism, medical supplies and other global value chains, consumer electronics, and financial markets to energy, food, and a range of social activities, to name a few. Without a clear understanding of when the effects may peak economic forecasts must necessarily be considered preliminary. Efforts to reduce social interaction to contain the spread of the virus are disrupting the daily lives of most Americans."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Schwarzenberg, Andres B.; Weiss, Martin A.
2020-03-17
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Global Economic Effects of COVID-19: In Brief [Updated March 18, 2020]
From the Overview: "Since the World Health Organization (WHO) first declared Covid-19 a world health emergency in January 2020, the virus has been detected in over 150 countries and almost all U.S. states. The infection has sickened more than 200,000 people, with thousands of fatalities. On March 11, the WHO announced that the outbreak was officially a pandemic, the highest level of health emergency. During that time, it has become clear that the outbreak is negatively impacting global economic growth. The virus is affecting a broad swath of economic activities, from tourism, medical supplies and other global value chains, consumer electronics, and financial markets to energy, food, and a range of social activities, to name a few. Without a clear understanding of when the health and economic effects may peak economic forecasts must necessarily be considered preliminary. Efforts to reduce social interaction to contain the spread of the virus are disrupting the daily lives of most Americans."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Schwarzenberg, Andres B.; Weiss, Martin A. . . .
2020-03-18
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North American Development Bank [Updated January 10, 2020]
From the Introduction: "The North American Development Bank (NADB) is a binational financial institution created and funded by Mexico and the United States. The NADB provides loans and grants to public and private entities for environmental and infrastructure projects on both sides of the U.S.-Mexico border. Modeled after the multilateral development banks (MDBs), such as the World Bank, the NADB has a unique environmental focus and is the only development bank that also finances projects in the United States."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2020-01-10
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European Bank for Reconstruction and Development (EBRD) [January 30, 2020]
From the Document: "The European Bank for Reconstruction and Development (EBRD), the first international financial institution of post-Cold War Europe, was founded in 1991 to ease the path of the former communist countries of Central and Eastern Europe (CEE) and the former Soviet Union from planned to free-market economies. Its geographic area has expanded over time and, today, the EBRD finances projects in 37 countries throughout Europe, the Middle East, and Central Asia. In total, the EBRD has 69 member countries. The United States is a founding member of the EBRD and is the single largest shareholder with a 10% share of the Bank's capital. U.S. membership in the EBRD is authorized by P.L. 101-513, the 'European Bank for Reconstruction and Development Act' (22 U.S.C. §290l et seq.). On. November 19, 2019, President Trump nominated J. Steven Dowd to be the U.S. Executive Director at the EBRD pending Senate confirmation. His nomination followed the resignation of Judy Shelton, who has been nominated to the Federal Reserve Board."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2020-01-30
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Global Economic Effects of COVID-19 [Updated May 7, 2021]
From the Document: "In the year since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. [...] The economic fallout from the pandemic could risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. Job losses have been concentrated more intensively in the services sector where workers have been unable to work offsite. The human costs in terms of lives lost will permanently affect global economic growth in addition to the cost of rising levels of poverty, lives upended, careers derailed, and increased social unrest. Some estimates indicate that 95 million people may have entered into extreme poverty in 2020 with 80 million more undernourished compared to pre-pandemic levels. In addition, some estimates indicate that global trade could fall by an annual amount of 9.0% or slightly less in 2020 as a result of the global economic downturn, exacting an especially heavy economic toll on trade-dependent developing and emerging economies. The full economic impact of the pandemic likely will remain unclear until the negative health effects peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .
2021-05-07
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Remittances: Background and Issues for Congress [Updated December 2, 2019]
From the Summary: "This report focuses on remittances, the transfers of money and capital sent by migrants and foreign immigrant communities to their home countries. At over $700 billion, remittances sent home by international migrants to developing countries are larger than official development assistance (ODA) and more stable than private capital flows to these countries. The United States is the destination for the most international migrants and is by far the largest source of global remittances. The World Bank estimates there were $56.3 billion in official remittance outflows from the United States in 2014. As remittances have ballooned, banks, traditional money transfer companies, and entrepreneurs have responded to increased demand by increasing the remittance channels available to migrants; these now include mobile, internet, and card-based options. The dramatic rise in the importance of remittances to global capital flows has also led to greater interest from Congress and other policymakers."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2019-12-02
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International Monetary Fund [Updated August 30, 2019]
From the Document: "The International Monetary Fund (IMF, the Fund), founded in 1945, is an international organization that works to ensure the stability of the international monetary system. The United States is a founding member of the IMF and the largest financial contributor. This In Focus report provides a brief overview of the IMF and its operations."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2019-08-30
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World Bank's International Development Association (IDA) [April 18, 2007]
"The World Bank is a Multilateral Development Bank (MDB) that makes loans and grants to low and middle-income countries to reduce poverty and promote economic development. Both the World Bank and the International Monetary Fund (IMF) were founded at the Bretton Woods Conference in 1944. Two of the World Bank facilities, the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) lend directly to governments to finance projects and programs. [...] At the March 5-6 kick-off meeting for the IDA-15 round, donor governments selected three themes for IDA-15: (1) IDA's role in the international foreign aid system, (2) the role of the World Bank in post-conflict reconstruction and fragile states, and (3) the need to improve the effectiveness of IDA assistance. This report provides brief background material on the World Bank's IDA, the U.S. role at the institution, and information on the status of the current IDA-14 replenishment. It then examines the negotiations for IDA-15, and analyzes the three core themes identified for IDA-15. The report will be updated as events warrant."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2007-04-18
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Arab League Boycott of Israel [Updated January 29, 2008]
"The Arab League, an umbrella organization comprising 23 Middle Eastern and African countries and entities, has maintained an official boycott of Israeli companies and Israeli-made goods since the founding of Israel in 1948. The boycott is administered by the Damascus-based Central Boycott Office, a specialized bureau of the Arab League. [...]The U.S. government has often been at the forefront of international efforts to end the boycott and its enforcement. Despite U.S. efforts, however, many Arab League countries continue to support the boycott's enforcement. U.S. legislative action related to the boycott dates from 1959 and includes multiple statutory provisions expressing U.S. opposition to the boycott, usually in foreign assistance legislation. In 1977, Congress passed laws making it illegal for U.S. companies to cooperate with the boycott and authorizing the imposition of civil and criminal penalties against U.S. violators. U.S. companies are required to report to the Department of Commerce any requests to comply with the Arab League Boycott. In FY2006, U.S. companies submitted 1,291 reports on boycott-related requests. During the same period, penalties for violating U.S. anti-boycott legislation worth $95,950 were levied on nine companies to settle allegations they violated U.S. antiboycott provisions, an increase from five cases and $57,000 in FY2005. This report provides background information on the boycott and U.S. efforts to end its enforcement. It will be updated as events warrant."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2008-01-29
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Arab League Boycott of Israel [Updated August 27, 2008]
This CRS report discusses the Arab League boycott of Israel. "The Arab League, an umbrella organization comprising 23 Middle Eastern and African countries and entities, has maintained an official boycott of Israeli companies and Israeli-made goods since the founding of Israel in 1948. The boycott is administered by the Damascus-based Central Boycott Office, a specialized bureau of the Arab League. [...]The U.S. government has often been at the forefront of international efforts to end the boycott and its enforcement. Despite U.S. efforts, however, many Arab League countries continue to support the boycott's enforcement. U.S. legislative action related to the boycott dates from 1959 and includes multiple statutory provisions expressing U.S. opposition to the boycott, usually in foreign assistance legislation. In 1977, Congress passed laws making it illegal for U.S. companies to cooperate with the boycott and authorizing the imposition of civil and criminal penalties against U.S. violators. U.S. companies are required to report to the Department of Commerce any requests to comply with the Arab League Boycott. In FY2006, U.S. companies submitted 1,291 reports on boycott-related requests. During the same period, penalties for violating U.S. anti-boycott legislation worth $95,950 were levied on nine companies to settle allegations they violated U.S. antiboycott provisions, an increase from five cases and $57,000 in FY2005. This report provides background information on the boycott and U.S. efforts to end its enforcement. It will be updated as events warrant."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2008-08-27
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Arab League Boycott of Israel [Updated July 3, 2008]
"The Arab League, an umbrella organization comprising 23 Middle Eastern and African countries and entities, has maintained an official boycott of Israeli companies and Israeli-made goods since the founding of Israel in 1948. The boycott is administered by the Damascus-based Central Boycott Office, a specialized bureau of the Arab League. [...]The U.S. government has often been at the forefront of international efforts to end the boycott and its enforcement. Despite U.S. efforts, however, many Arab League countries continue to support the boycott's enforcement. U.S. legislative action related to the boycott dates from 1959 and includes multiple statutory provisions expressing U.S. opposition to the boycott, usually in foreign assistance legislation. In 1977, Congress passed laws making it illegal for U.S. companies to cooperate with the boycott and authorizing the imposition of civil and criminal penalties against U.S. violators. U.S. companies are required to report to the Department of Commerce any requests to comply with the Arab League Boycott. In FY2006, U.S. companies submitted 1,291 reports on boycott-related requests. During the same period, penalties for violating U.S. anti-boycott legislation worth $95,950 were levied on nine companies to settle allegations they violated U.S. antiboycott provisions, an increase from five cases and $57,000 in FY2005. This report provides background information on the boycott and U.S. efforts to end its enforcement. It will be updated as events warrant."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2008-07-03
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Multilateral Debt Relief Initiative [April 1, 2008]
"In June 2005, G8 finance ministers proposed the new Multilateral Debt Relief Initiative (MDRI). The MDRI proposes to cancel debts of some of the world's poorest countries owed to the International Monetary Fund, World Bank, and African Development Bank. This report discusses MDRI's implementation and raises some issues regarding debt relief's effectiveness as a form of foreign assistance for possible congressional consideration. It will be updated as events warrant."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2008-04-01
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Multilateral Debt Relief Initiative [August 20, 2007]
"In June 2005, G8 finance ministers proposed the new Multilateral Debt Relief Initiative (MDRI). The MDRI proposes to cancel debts of some of the world's poorest countries owed to the International Monetary Fund, World Bank, and African Development Bank. This report discusses MDRI's implementation and raises some issues regarding debt relief's effectiveness as a form of foreign assistance for possible congressional consideration. It will be updated as events warrant."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2007-08-20
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Multilateral Debt Relief Initiative [June 11, 2012]
"In June 2005, G8 finance ministers proposed the new Multilateral Debt Relief Initiative (MDRI). The MDRI proposes to cancel debts of some of the world's poorest countries owed to the International Monetary Fund, World Bank, and African Development Bank. This report discusses MDRI's implementation and raises some issues regarding debt relief's effectiveness as a form of foreign assistance for possible congressional consideration."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2012-06-11
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COVID-19: Role of the International Financial Institutions [May 4, 2020]
From the Document: "The international financial institutions(IFIs), including the International Monetary Fund (IMF), the World Bank, and regional and specialized multilateral development banks, are mobilizing unprecedented levels of financial resources to support countries responding to the health and economic consequences of the COVID-19 [coronavirus disease 2019] pandemic. [1] More than half of the IMF's membership has requested IMF support, and the IMF has announced it is ready to tap its total lending capacity, about $1 trillion, to support governments responding to COVID-19. [2] The World Bank has committed to mobilizing $160 billion over the next 15 months, and other multilateral development banks have committed to providing $80 billion during that time period. [and 3] At the urging of the IMF and the World Bank, the G-20 [group of twenty] countries in coordination with private creditors have agreed to suspend debt payments for low-income countries through the end of 2020. Policymakers are discussing a number of policy actions to further bolster the IFI response to the COVID-19 pandemic."
Library of Congress. Congressional Research Service
Nelson, Rebecca M.; Weiss, Martin A.
2020-05-04
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Global Economic Effects of COVID-19 [Updated May 15, 2020]
From the Document: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 190 countries and all U.S. states. The pandemic is having a noticeable impact on global economic growth. Estimates so far indicate the virus could trim global economic growth by as much as 2.0% per month if current conditions persist and raise the risks of a global economic recession similar in magnitude to that experienced during the Great Depression of the 1930s. Global trade could also fall by 13% to 32%, depending on the depth and extent of the global economic downturn. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Schwarzenberg, Andres B.; Weiss, Martin A. . . .
2020-05-15
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Global Economic Effects of COVID-19 [Updated May 1, 2020]
From the Summary: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 190 countries and all U.S. states. The pandemic is having a noticeable impact on global economic growth. Estimates so far indicate the virus could trim global economic growth by as much as 2.0% per month if current conditions persist. Global trade could also fall by 13% to 32%, depending on the depth and extent of the global economic downturn. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .
2020-05-01
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North American Development Bank [Updated June 18, 2020]
From the Introduction: "The North American Development Bank (NADB) is a binational financial institution created and funded by Mexico and the United States. The NADB provides loans and grants to public and private entities for environmental and infrastructure projects on both sides of the U.S.-Mexico border. Modeled after the multilateral development banks (MDBs), such as the World Bank, the NADB has a unique environmental focus and is the only development bank that also finances projects in the United States."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2020-06-18
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Global Economic Effects of COVID-19 [Updated June 4, 2020]
From the Summary: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 190 countries and all U.S. states. The pandemic is having a noticeable impact on global economic growth. Estimates so far indicate the virus could trim global economic growth by as much as 2.0% per month if current conditions persist and raise the risks of a global economic recession similar in magnitude to that experienced during the Great Depression of the 1930s. Global trade could also fall by 13% to 32%, depending on the depth and extent of the global economic downturn. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .
2020-06-04
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Global Economic Effects of COVID-19 [Updated November 5, 2020]
From the Document: "In the months since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could reduce global economic growth to an annualized rate of -4.5% to -6.0% in 2020, with a partial recovery of a rate of 2.5% to 5.2% in 2021. However, a resurgence in infectious cases in Europe, the United States, and various developing economies in September and October renewed calls for stringent lockdowns and curfews and could weaken or delay an economic recovery. The economic fallout from the pandemic could also risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. [...] The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Nelson, Rebecca M.; Weiss, Martin A. . . .
2020-11-05
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Global Economic Effects of COVID-19 [Updated December 23, 2020]
From the Summary: "In the months since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could reduce global economic growth to an annualized rate of -4.5% to -6.0% in 2020, with a partial recovery of a rate of 2.5% to 5.2% in 2021. Compared with the synchronized nature of the global economic slowdown in the first half of the year, the global economy showed signs of a two-track recovery in the third quarter with developed economies experiencing a nascent recovery, while growth rates in developing economies lagged behind. However, a resurgence in infectious cases in Europe, the United States, and various developing economies since September renewed calls for lockdowns and curfews and threatened to weaken or delay a sustained economic recovery. The economic fallout from the pandemic could risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. Job losses have been concentrated more intensively in the services sector where workers have been unable to work offsite. The human costs in terms of lives lost will permanently affect global economic growth in addition to the cost of rising levels of poverty, lives upended, careers derailed, and increased social unrest."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .
2020-12-23
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Global Economic Effects of COVID-19 [Updated November 19, 2020]
From the Summary: "In the months since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could reduce global economic growth to an annualized rate of -4.5% to -6.0% in 2020. [...] The economic fallout from the pandemic could also risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. The human costs in terms of lives lost will permanently affect global economic growth in addition to the cost of rising levels of poverty, lives upended, careers derailed, and increased social unrest. Some estimates indicate that 100 million to 110 million people globally could enter extreme poverty as a result of the contraction in the global economy. Global trade could fall by an annual amount of 9.2%, depending on the depth and extent of the global economic downturn, exacting an especially heavy economic toll on trade-dependent developing and emerging economies. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."
Library of Congress. Congressional Research Service
Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .
2020-11-19
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U.S. Dollar as the World's Dominant Reserve Currency [December 18, 2020]
From the Document: "The U.S. dollar is the world's dominant reserve currency, among other such currencies including the euro, the yen, the pound, the renminbi (RMB), the Canadian dollar, the Swiss franc, and the Australian dollar. A reserve currency is a currency held by central banks in significant quantities. It is widely used to conduct international trade and financial transactions, eliminating the costs of settling transactions involving different currencies. The dollar has functioned as the world's dominant reserve currency since World War II. Today, central banks hold about 60% of their foreign exchange reserves in dollars. About half of international trade is invoiced in dollars, and about half of all international loans and global debt securities are denominated in dollars. In foreign exchange markets, where currencies are traded, dollars are involved in nearly 90% of all transactions. The dollar is the preferred currency for investors during major economic crises, as a 'safe haven' currency. During the global financial crisis of 2008-2009, for example, and amidst the economic turmoil associated with the Coronavirus Disease 2019 pandemic in 2020, investors sought U.S. dollars, expecting the dollar to retain its value. In both crises, the U.S. Federal Reserve adopted extraordinary monetary authorities and currency swap lines with other central banks to provide liquidity and dollars."
Library of Congress. Congressional Research Service
Nelson, Rebecca M.; Jackson, James K., 1949-; Weiss, Martin A.
2020-12-18
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Israel and the Boycott, Divestment, and Sanctions (BDS) Movement [June 9, 2017]
"This report provides information and analysis on a boycott, divestment, and sanctions ('BDS') movement against Israel. The BDS movement is generally seen as a loose grouping of actors from various countries who advocate or engage in economic measures against Israel or Israel-related individuals or organizations, though defining precisely what may or may not constitute BDS activity is subject to debate. The report also analyzes economic measures that 'differentiate' or might be seen as differentiating between (1) Israel in general and (2) entities linked with Israeli-developed areas and settlements (whose legality is questioned under international law). Such settlements are found in the West Bank, East Jerusalem, and Golan Heights- areas that Israel has controlled and administered since the 1967 Arab-Israeli war. Debate is ongoing in the United States and elsewhere about whether economic differentiation (such as with regard to product labeling policies) between Israel proper and Israeli settlements constitutes a form of BDS. The report also discusses [1] Anti-BDS or anti-differentiation efforts to date, including U.S. legislative action and proposals at the federal and state level […] [and] [2] Legislative considerations arising from existing antiboycott law, First Amendment issues, and issues regarding congressional powers over commerce and foreign affairs. "
Library of Congress. Congressional Research Service
Zanotti, Jim; Weiss, Martin A.; Ruane, Kathleen Ann . . .
2017-06-09
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Asian Infrastructure Investment Bank (AIIB) [February 3, 2017]
"In October 2013, at the Asia-Pacific Economic Cooperation Summit in Bali, Indonesia, China proposed creating a new multilateral development bank (MDB), the Asian Infrastructure Investment Bank (AIIB). As its name suggests, the Bank's stated purpose is to provide financing for infrastructure needs throughout Asia, as well as in neighboring regions. As of January 2017, the AIIB has approved nine projects, investing a total of $1.7 billion. [...] As AIIB membership has expanded to include developed countries in Asia and Europe (and possibly Canada), China has since tried to distance the AIIB from the OBOR ['One Belt, One Road'] initiative through co-financing arrangements for its initial loans. It is uncertain how China will balance its stated goal of establishing an independent and high-standard MDB, while pursuing China's own economic and national security priorities."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2017-02-03
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International Monetary Fund [May 24, 2018]
"This report provides background information for Congress concerning the International Monetary Fund (IMF, the Fund), the central multilateral organization for international monetary cooperation. The United States is the largest financial contributor to the IMF and congressional interest in IMF activities has increased since the onset of the international financial crisis in 2008. IMF lending has surged during the past decade, including large loans to Greece, Ireland, and Portugal. Potential policy issues for Congress include the role of the IMF as a lender of last resort, the adequacy of IMF resources, and the effectiveness of IMF surveillance of financial and monetary conditions in its member countries and of the world economy."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2018-05-24
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International Monetary Fund [Updated January 13, 2021]
From the Overview: "The International Monetary Fund (IMF, the Fund), which was founded in 1945, is an international organization that works to ensure the stability of the international monetary system. The United States is a founding member of the IMF and the largest financial contributor. This In Focus provides an overview of the IMF and its operations."
Library of Congress. Congressional Research Service
Weiss, Martin A.
2021-01-13
