Taiwan News: Young Kim urges US support for Taiwan’s IMF membership | Taiwan News | Sep. 18, 2026 17:21
TAIPEI (Taiwan News) — US Representative Young Kim on Tuesday urged Washington to support Taiwan’s bid to join the International Monetary Fund (IMF).
During a House Financial Services Committee hearing, Kim discussed the Taiwan Non-Discrimination Act, legislation she introduced that was incorporated into the National Defense Authorization Act last year, per UDN. “This legislation directs the IMF representative to use the US voice and vote to support Taiwan’s membership in the IMF,” said Kim.
Kim said the US has been discussing the issue with Taiwanese government officials and is preparing to submit an application. “I hope the US will use our voice to support their petition to join, or encourage them to do so as soon as possible,” said Kim.
Treasury Secretary Scott Bessent responded, “We are aware of your bill,” without commenting on the White House’s stance on Taiwan’s IMF application. Kim said economic security equates to national security, adding, “A strong Taiwan is our best tool to counter Chinese economic coercion.”
The Ministry of Foreign Affairs thanked Kim and other members of the US Congress for supporting Taiwan’s IMF participation, UDN reported. The ministry said it is consulting with relevant agencies, diplomatic allies, and like-minded countries, including the US, to develop a feasible strategy, and will provide updates on progress.
Taiwan was a founding IMF member, but its representation was transferred from Taipei to Beijing in 1980. Former IMF historian James M. Boughton said, “Its 1980 decision involved neither the admission of a new member nor the termination of an existing membership, but only the recognition of a different government to represent the member.”
Chung-Hua Institution for Economic Research Director Liu Da-nien (劉大年) told UDN that Taiwan’s biggest obstacle to joining the IMF would be recognition of its status as a state. He noted that Taiwan joined the World Trade Organization as the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu, a designation available to territories with autonomy over their external trade policies.
The IMF presents additional challenges because applicants must meet requirements concerning their financial systems and membership obligations, Liu said. Although the IMF operates independently of the UN, it could still draw on the UN’s definition of statehood when assessing Taiwan’s eligibility, he added.
