US House panel chair urges Treasury chief to back Taiwan's IMF bid

The U.S. Congress has once again taken concrete action to support Taiwan's international participation. During a recent congressional hearing, Representative Young Kim, Chairwoman of the House Foreign Affairs Subcommittee on the Indo-Pacific, directly questioned Treasury Secretary Scott Bessent, calling on the U.S. government to demonstrate a clear stance and fully support Taiwan's bid to join the International Monetary Fund (IMF). This line of questioning not only echoes pro-Taiwan bills previously introduced in the U.S. Congress, but once again brings Taiwan's representation and survival space in international economic, trade, and financial organizations to the forefront of discussions on U.S. foreign policy and financial diplomacy.

During the hearing proceedings, Representative Kim specifically expressed concern over the status quo of Taiwan being excluded from major international financial institutions for years. She explicitly pointed out to Treasury Secretary Bessent that the core spirit of the "Taiwan Non-Discrimination Act," previously promoted by the U.S. Congress, is to explicitly require U.S. representatives in international financial institutions to actively speak out and advocate for Taiwan to become a member of the IMF. Kim emphasized that when Taiwan is fully prepared and formally submits its application for membership, the U.S. government should not only give firm political support, but should also proactively encourage Taiwan to advance this important international participation project as soon as possible.

Reviewing the legislative background of the "Taiwan Non-Discrimination Act," the bill aims to counter Beijing's long-term suppression and marginalization of Taiwan in international organizations. As a core institution for global financial stability and monetary policy coordination, IMF membership holds high substantive economic significance and strategic defensive value for Taiwan as a global trading power. For a long time, Taiwan has possessed the strength and qualifications to participate in various IMF mechanisms, relying on its robust foreign exchange reserves, sound financial system, and highly liberalized economic performance. However, it has been locked out due to political factors. By questioning the Treasury Secretary, U.S. lawmakers are effectively holding the administration accountable, demanding that the Treasury Department implement the will of Congress and exert substantive influence for Taiwan on the international financial stage.

From the perspectives of geopolitics and global economic security, the continued push by U.S. lawmakers to assist Taiwan in joining the IMF carries profound significance on multiple levels. First, on a substantive functional level, the integrity of the global financial system should not contain political loopholes. As an indispensable and critical hub in the global supply chain, Taiwan's financial stability and the transparent circulation of its macroeconomic data are crucial to regional and even global economic security. Excluding Taiwan from the IMF's surveillance and financing mechanisms is not only unfair to Taiwan, but also leaves vulnerabilities in the global financial defense line. Second, in terms of political and diplomatic significance, if the U.S. executive and legislative branches can join forces to support Taiwan's participation in international organizations, it will effectively counter Mainland China's expansionist and exclusionary practices within international organizations, sending a clear signal to the international community that the democratic camp supports Taiwan's international survival space.

As U.S. congressional officials and administration cabinet members engage in public dialogue on the issue of Taiwan's participation in the IMF, the future moves of the U.S. Treasury Department in related international organization annual meetings or voting procedures will undoubtedly attract high attention from all sectors. The Taiwanese government and relevant overseas representative offices will also use this as an opportunity to continue deepening strategic communication with the U.S. Congress and executive branch, making thorough preparations for substantive efforts to join the IMF in the future. The questioning during this hearing is not only another demonstration of bipartisan support for Taiwan in the U.S. Congress, but also continues to forge a hopeful path of participation for Taiwan amid the volatile and changing international financial landscape.