The bill prohibits US support for international financial assistance to shrimp-related projects in other countries for 7 years, unless the Treasury Secretary deems it in the US national interest. The aim is to protect American shrimpers by opposing funding for shrimp farming, processing, and exports in borrowing countries. The bill emphasizes the role of the Secretary of the Treasury in instructing the US Executive Director at international financial institutions to use the voice and vote of the US to enforce this prohibition.
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.

