H.R. 8290 — Exchange Rate Accountability Act of 2026

This section establishes U.S. opposition to proposed quota increases in the International Monetary Fund (IMF) for any of the 10 largest shareholders that fail to meet specified criteria on currency transparency and trade practices. At least seven days before consideration of such a proposal, the Secretary of the Treasury must report to the House Financial Services Committee and Senate Foreign Relations Committee determining whether the member, in the preceding 12 months, (1) has not violated its IMF Article VIII obligations (i.e., on current account convertibility and competitive exchange practices) based on public data; (2) maintains transparent exchange rate policies and publishes credible balance-of-payments data; and (3) has not persistently managed its exchange rate against the U.S. dollar—when recording a current account surplus—to prevent effective balance-of-payments adjustments or gain unfair competitive advantage in trade. If any criterion is unmet, the Secretary must instruct the U.S. Governor to oppose the increase using the U.S. voice and vote, subject to a presidential waiver reported to the committees as vital to the national interest; the provision sunsets seven years after enactment.