This bill stops United States (US) federal money from funding shrimp farming, shrimp processing, or shrimp exports at international financial institutions (IFI). It also requires the Government Accountability Office (GAO) to report each year on whether US executive directors at certain IFIs have followed instructions to oppose loans for export products or minerals that are already plentiful on world markets.
Save Our Shrimpers Act This bill prohibits federal funds from being made available to international financial institutions (e. g., the International Monetary Fund) for financing activities related to foreign shrimp farms. The bill also requires an annual report on compliance by U.S. leadership of international financial institutions with policies to oppose financing for certain commodities or minerals. Specifically, the bill requires the Department of the Treasury to condition any provision of federal funds to an international financial institution on the requirement that the funds not be used to finance any activity related to shrimp farming, shrimp processing, or the export of shrimp in any foreign country. Under current law, Treasury must instruct U.S. leadership of international financial institutions to oppose providing financial assistance for the production or extraction of any commodity or mineral for export if (1) the commodity or mineral is in surplus on world markets, and (2) the export of such commodity or mineral will cause substantial injury to U.S. producers of a competing commodity or mineral (or of the same or a similar commodity or mineral). This bill requires the Government Accountability Office to investigate and annually report to Congress on the extent to which U.S. leadership at these institutions have carried out Treasury's instructions.
