The push is part of a wider effort to boost the self-governed island’s global status and participation in international institutions
Taiwan, a major economy the size of Poland but absent from global organizations, is making a long-shot push to join the’s membership at the IMF would help boost financial resilience,” the Taipei Economic and Cultural Representative Office in Washington said during this week’s IMF and World Bank annual meetings. The office serves as Taiwan’s de facto embassy in the U.S.
In 2020, then-president Donald Trump signed legislation making it U.S. policy to advocate for Taiwan’s membership or observer status in international organizations such as the IMF. Bo Li, who had worked as vice governor of the People’s Bank of China, now serves as the IMF’s deputy managing director. In a report this month, the research group Taiwan Academy of Banking and Finance warned that China could try to destabilize the Taiwanese currency by placing big bets against Taiwan’s stock market and manipulating foreign exchange markets. Joining the IMF would give Taiwan access to a rainy-day fund it could use to defend itself.
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