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  • EnactedApril 26th, 2010
    The President signed this bill into law
  • The senate Passed March 26th, 2010
    Passed by Voice Vote
  • The house Passed March 11th, 2010
    Passed by Voice Vote
      house Committees
      House Committee on Financial Services
    IntroducedFebruary 2nd, 2010

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Bill Details

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Title

Haiti Debt Relief and Earthquake Recovery Act of 2010

Official Title

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.

Summary

Haiti Debt Relief and Earthquake Recovery Act of 2010 - Amends the the International Financial Institutions Act to urge the Secretary of the Treasury to direct the U.S. Executive Director at the International Monetary Fund (IMF), the International Development Association, the Inter-American Development Bank, the International Fund for Agricultural Development, and other multilateral development institutions to use U.S. influence to seek: (1) cancellation of all remaining debts owed by Haiti to such institutions; (2) suspension of Haiti's debt service payments to such institutions; and (3) before February 1, 2015, provision of emergency, humanitarian and reconstruction assistance from such institutions to Haiti in the form of grants or other non-debt assistance. Urges the Secretary to: (1) instruct the U.S. Executive Director of the IMF to advocate the use of some of the windfall profits from the ongoing sale of certain gold to provide debt stock relief, debt service relief, and, before February 1, 2015, grants for Haiti; (2) support the creation and utilization of a multilateral trust fund for Haiti that would leverage potential U.S. contributions and promote bilateral donations for investments in Haiti's future, including efforts to combat soil degradation and promote reforestation and infrastructure investments; and (3) direct the U.S. 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. Urges the Secretary and the Secretary of State to use appropriate diplomatic influence to secure cancellation of all remaining bilateral, multilateral, and private creditor debt owed by Haiti.

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