Lafayette Reporter

Sen. John Kennedy (R-La.) has written an op-ed in Newsweek, calling on Congress to take action and prevent Iran and other state sponsors of terrorism from receiving billions of dollars in special drawing rights from the International Monetary Fund (IMF) without congressional approval. Kennedy has introduced the No Dollars for Dictators Act, which would require congressional authorization before the IMF can issue special drawing rights to state sponsors of terrorism or genocide.

In his op-ed, Kennedy highlights the issue of IMF allocations, stating that while the president of the United States has to approve these allocations, Congress only votes on distributions above a certain amount, allowing the IMF and the Biden administration to bypass congressional scrutiny. He points out that in 2021, President Biden approved the largest IMF allocation of Special Drawing Rights in history, valued at $650 billion, to supposedly help countries respond to the COVID-19 pandemic.

Kennedy raises concerns about how this money is being used by countries like Russia, China, and Iran. He states, "Russia received $16.2 billion from the IMF and invaded Ukraine six months later. China received $38.3 billion for pandemic response but refused to allow the world to investigate the COVID-19 origins. Iran received $4.5 billion while promoting terrorism throughout the world and brutalizing protesters who sought equality for women."

The senator also brings attention to a recent request for another IMF distribution of Special Drawing Rights worth $650 billion, which could potentially benefit Iran, China, and Russia. Kennedy warns that if this allocation is approved, Iran could receive as much as $4.9 billion to fund terrorism, China could receive another $41.6 billion to menace Taiwan, and Russia could receive $17.6 billion to fund its war on Ukraine.

Kennedy emphasizes the need for Congress to have the authority to intervene and prevent the allocation of billions of dollars to America's enemies. He states, "Congress cannot stand by and let him do it again," referring to President Biden's approval of the previous IMF allocation. Kennedy urges his colleagues to join him in ensuring that Congress has a say before terrorists and dictators receive any further funds from the IMF.

In conclusion, Sen. John Kennedy's op-ed in Newsweek highlights the urgency of preventing Iran and other state sponsors of terrorism from receiving billions of dollars through the IMF. He calls on Congress to pass the No Dollars for Dictators Act, which would require congressional authorization for any IMF allocations to these countries. Kennedy argues that it is crucial for Congress to have the authority to intervene and stop the funding of America's enemies.

Click this link to access more information: https://www.kennedy.senate.gov/public/press-releases?ID=E2B236C2-5CF7-43BE-B63D-BCE4B906E54E