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House Votes to Cancel Haiti's Debt

March 10, 2010 - by Donny Shaw

On voice vote, the House of Representatives this afternoon passed a bill that would put pressure on the big international financial institutions to completely cancel all of Haiti's debt so that the country can use what resources it has for rebuilding from the earthquake they suffered in January, 2009.

The bill is H.R. 4573, sponsored by Rep. Maxine Waters [D, CA-35] and co-sponsored by 69 other lawmakers, mostly Democrats. According to the official title, it would "direct 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."

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