Hearing on International Financial Institutions and Global Competition
January 1, 2023
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The Frame
This hearing informs potential future legislation regarding U.S. funding and policy influence within international financial institutions like the World Bank and IMF, which affects how global development and financial stability are managed.
Potentially affected actors named in the source documents. Mention is not a position.
U.S. Taxpayers
Taxpayer funds support U.S. contributions to international financial institutions.
International Financial Institutions
These organizations are the subject of congressional oversight and potential policy changes regarding their operations.
Last recorded activity January 1, 2023.
Next step not available in the current record.
Summary
Key Facts
- The hearing took place on May 25, 2023, in the Rayburn House Office Building.
- The subcommittee examined the influence of international financial institutions (IFIs) in the context of great power competition.
- Five expert witnesses provided testimony regarding global economics and IFI operations.
- A GAO report titled 'World Bank, Borrower Countries' Contracts to Businesses in the U.S. and to Entities Potentially on U.S. Sanctions or Other Lists of Concern' was submitted for the record.
- Written responses to questions for the record were submitted by Richard J. Powell and Daniel F. Runde.
- An article titled 'China is using the World Bank as its piggybank' was submitted for the record by Representative French Hill.
Frequently Asked Questions
What is the purpose of this subcommittee?
Who testified at this hearing?
Why It Matters
This hearing informs potential future legislation regarding U.S. funding and policy influence within international financial institutions like the World Bank and IMF, which affects how global development and financial stability are managed.
News Coverage
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Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
GAO Oversight
The hearing incorporated a specific GAO report regarding World Bank contracts and potential sanctions risks.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance60How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz20Current news / social attention level
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