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HR 4573 EAS

To urge the Secretary of the Treasury to instruct the United States Executive Directors at the International Monetary Fund, the World Bank, the Inter-American Development Bank, and other multilateral development institutions to use the voice, vote, and influence of the United States to cancel immediately and completely Haiti’s debts to such institutions, and for other purposes.CommentsClose CommentsPermalink

’, do pass with the following

AMENDMENTS:

( 1 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, CommentsClose CommentsPermalink

Title XVI of the International Financial Institutions Act (22 U.S.C. 262p et seq.) On page 3, line 4, after [Struck out->][ provision ][<-Struck out] insert: is amended by adding at the end the following new section:CommentsClose CommentsPermalink

‘SEC. 1628. CANCELLATION OF HAITI’S DEBTS TO INTERNATIONAL FINANCIAL INSTITUTIONS.CommentsClose CommentsPermalink

‘(a) In General- The Secretary of the Treasury should direct the United States Executive Director at the International Monetary Fund, the International Development Association, the Inter-American Development Bank, the International Fund for Agricultural Development, and other multilateral development institutions (as defined in section 1701(c)(3)) to use the voice, vote and influence of the United States at each such institution to seek to achieve--CommentsClose CommentsPermalink





‘(1) the immediate and complete cancellation of any and all remaining debts owed by Haiti to such institutions;CommentsClose CommentsPermalink





‘(2) the suspension of Haiti’s debt service payments to such institutions until such time as the debts are canceled completely; andCommentsClose CommentsPermalink





‘(3) the provision, before February 1, 2015,( 2 ) On page 3, lines 18 and 19, strike ‘relief’ and all of emergency, humanitarian and reconstruction assistance from such institutions to Haiti in the form of grants or other assistance such that Haiti does not accumulate debt.CommentsClose CommentsPermalink





‘(b) Use of Certain Funds for Assistance to Haiti- The Secretary of the Treasury should instruct the United States Executive Director of the International Monetary Fund to advocate the use of some of the realized windfall profits that follows through ‘Haiti.’ and insert:exceed the required contribution to the Poverty Reduction and Growth Trust (as referenced in the IMF Reforms Financial Facilities for Low-Income Countries Public Information Notice (PIN) No. 09/94) from the ongoing sale of 12,965,649 ounces of gold acquired since the second Amendment of the Fund’s Article of Agreement, to provide debt stock relief and debt service relief for Haiti and, before February 1, 2015, to provide grants for Haiti.CommentsClose CommentsPermalink





( 3 ) On page 4, line 7, after [Struck out->][ ‘(c) Securing Other Relief for Haiti- The Secretary of the Treasury and the Secretary of State should use all appropriate diplomatic influence to secure cancellation of any and all remaining bilateral, multilateral and private creditor debt owed by Haiti.’. CommentsClose CommentsPermalink

(a) Trust Fund- The Secretary of the Treasury should support the creation and utilization of a multilateral trust fund for Haiti that would leverage potential United States contributions and promote bilateral donations to such a fund for the purpose of making investments in Haiti’s future and future ][<-Struck out] insert: and future generations

Attest:

Secretary.

111th CONGRESS

2d Session

H.R. 4573

AMENDMENTS

generations, including efforts to combat soil degradation and promote reforestation and infrastructure investments such as electric grids, roads, water and sanitation facilities, and other critical infrastructure projects.CommentsClose CommentsPermalink




(b) Increase in Transfer of Earnings- The Secretary of the Treasury should direct the United States Executive Director of the Inter-American Development Bank to seek to increase the transfer of its earnings to the Fund for Special Operations and to a trust fund or grant facility for Haiti.CommentsClose CommentsPermalink