BEATTY URGES GLOBAL ECONOMIC STABILITY FOLLOWING IRAN WAR

WASHINGTON, D.C. — Congresswoman Joyce Beatty (OH-03), Ranking Member of the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, along with 26 Members of Congress, urged the Trump Administration to support a new issuance of International Monetary Fund (IMF) Special Drawing Rights (SDRs) to help address the global economic fallout caused by the Iran War and the closure of the Strait of Hormuz.

The letter argues that rising energy prices and supply chain disruptions are placing significant pressure on developing economies while threatening broader global financial stability. A new SDR allocation would provide critical liquidity to vulnerable countries, reinforce U.S. economic leadership, and help stabilize international markets—all without costing American taxpayers.

“As the United States has more influence than any other country at the IMF, your support of a new SDR issuance would virtually guarantee its realization. This is not a partisan issue. Stabilizing the global economy and creating jobs for American workers, without adding a dime to the U.S. budget, is something all Americans can agree on.”

The letter emphasizes that supporting a new SDR issuance would:

• Help stabilize developing economies facing severe energy and supply shocks.
• Protect global financial markets from prolonged instability.
• Reinforce U.S. leadership within the international financial system.
• Strengthen demand for American exports and support U.S. economic interests.
• Come at no direct cost to American taxpayers.

The letter was co-signed by (27) Reps. Gabe Amo (RI-01), Becca Balint (VT-At Large), Troy Carter (LA-02), Greg Casar (TX-35), Jasmine Crockett (TX-30), Lloyd Doggett (TX-37), Jesús "Chuy" García (IL-04), Sylvia Garcia (TX-29), Al Green (TX-09), Pramila Jayapal (WA-07), Hank Johnson (GA-04), Ro Khanna (CA-17), Summer Lee (PA-12), Jennifer McClellan (VA-04), Seth Moulton (MA-06), Eleanor Holmes Norton (DC), Ilhan Omar (MN-05), Mark Pocan (WI-02), Ayanna Pressley (MA-07), Delia Ramirez (IL-03), Shri Thanedar (MI-13), Bennie G. Thompson (MS-02), Dina Titus (NV-01), Rashida Tlaib (MI-12), Ritchie Torres (NY-15), and Nydia M. Velázquez (NY-07).

The effort is endorsed by ActionAid USA, NETWORK Lobby for Catholic Social Justice, American Friends Service Committee, Center for Economic and Policy Research, Partners In Health, Presbyterian Church (USA) Office of Public Witness, Oxfam America, The United Methodist Church – General Board of Church and Society, and the Evangelical Lutheran Church in America.

Read the full letter HERE.

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