Bill Overview
Title: Inter-American Development Bank General Capital Increase Act of 2022
Description: This bill directs the President to take actions to support a capital increase for the Inter-American Development Bank and authorizes the U.S. governor of the bank to vote in favor of increasing the bank's capital stock. The bill also requires the Department of the Treasury and U.S. representatives to the bank to support efforts to help countries restructure debts resulting from loans by China's government.
Sponsors: Del. Plaskett, Stacey E. [D-VI-At Large]
Target Audience
Population: Individuals in Latin America and the Caribbean
Estimated Size: 64000000
- The Inter-American Development Bank (IDB) serves countries in Latin America and the Caribbean, targeting development and improved living standards.
- A capital increase in the IDB means more funds for the bank's programs and projects that benefit these regions.
- Given that the IDB focuses primarily on Latin American and Caribbean countries, the direct global target would primarily be in these regions.
- The population of Latin America and the Caribbean, who could benefit from increased funding and development programs, is over 660 million.
- The bill indirectly impacts global economic conditions tied to development and debt restructuring with Chinese government loans, which is more indirectly related.
Reasoning
- The policy is primarily focused on the Inter-American Development Bank and its impact on Latin American and Caribbean countries. However, some U.S. residents, particularly those with ties to these regions, may perceive indirect benefits or impacts, such as through economic relations, family remittances, or business ties.
- In simulating interviews, it's crucial to capture diverse perspectives, including those living in the U.S. with strong connections to Latin America, professionals in international finance or policy, and individuals with no direct ties to the target regions.
- The budget allocated to this policy indicates a significant investment, suggesting potential long-term economic impacts that could translate into wellbeing changes, especially for those directly or indirectly connected to Latin American economies.
- It's also necessary to include individuals in the U.S. who see limited to no impact, as their scores are needed to provide a balanced view of the policy's effect.
Simulated Interviews
Banking Executive (Miami, FL)
Age: 46 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 3/20
Statement of Opinion:
- This policy could stabilize some of the projects my bank is involved in, positively impacting our clients.
- Increased capital might offer more opportunities for investment in regional developments I care about.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Small Business Owner (Phoenix, AZ)
Age: 35 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- This could improve the economic conditions in Latin America, which might boost my business through stronger regional economies.
- I hope some of these funds go toward infrastructure improvements.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 6 |
International Policy Analyst (New York, NY)
Age: 29 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 2/20
Statement of Opinion:
- The policy is positive for development and will potentially address debt issues that hold back progress.
- This could mean more projects and partnerships for my NGO.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 7 |
| Year 20 | 10 | 7 |
Oil Industry Professional (Houston, TX)
Age: 50 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- I'm hopeful this will lead to more stable business environments in Latin America.
- If the policy addresses debt issues effectively, it may reduce some risks we face in the market.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
University Student (Los Angeles, CA)
Age: 22 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- This policy aligns with what I study and definitely adds optimism for economic progress.
- It resonates with my career ambitions in international development.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Retired Public School Teacher (Chicago, IL)
Age: 60 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 0.0 years
Commonness: 8/20
Statement of Opinion:
- I'm not directly impacted by this policy, but I hope it brings stability to those regions.
- It's good to see the U.S. involved in fostering international development.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Tech Entrepreneur (San Francisco, CA)
Age: 42 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 2/20
Statement of Opinion:
- This capital increase will likely create more opportunities for our business expansion in Latin America.
- More stable economies mean better infrastructure for tech growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 6 |
Healthcare Worker (El Paso, TX)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- Anything that helps our neighboring countries benefits us eventually.
- This could bring job opportunities and economic benefits to border communities.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Construction Manager (Denver, CO)
Age: 49 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 0.0 years
Commonness: 6/20
Statement of Opinion:
- I don't see this policy affecting me directly, but understanding the global economy's interconnectedness, it may have subtle impacts.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Software Developer (Seattle, WA)
Age: 38 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- I'm optimistic that this policy will improve IT infrastructure, which could enhance our operations.
- Continued economic support could lead to more digital projects in those regions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 6 |
Cost Estimates
Year 1: $500000000 (Low: $300000000, High: $700000000)
Year 2: $500000000 (Low: $300000000, High: $700000000)
Year 3: $500000000 (Low: $300000000, High: $700000000)
Year 5: $500000000 (Low: $300000000, High: $700000000)
Year 10: $500000000 (Low: $300000000, High: $700000000)
Year 100: $500000000 (Low: $300000000, High: $700000000)
Key Considerations
- Global geopolitical implications of countering Chinese influence through financial institutions.
- The ability of the Inter-American Development Bank to manage and distribute increased funds effectively.
- Potential pushback from constituents over increased international spending.