§262p–12 Cancellation of Haiti’s debts to international financial institutions

Summary

The Treasury Secretary is asked to tell the U.S. representatives at the IMF, the International Development Association, the Inter‑American Development Bank, the International Fund for Agricultural Development, and other similar multilateral lenders to use America’s vote and influence to make three things happen: cancel all remaining debts Haiti owes those institutions right away; stop Haiti’s debt payments until the debts are fully canceled; and, by February 1, 2015, give emergency, humanitarian, and rebuilding aid as grants or other help that does not create new debt. The Treasury Secretary is also asked to push the IMF to use some windfall profits from the sale of 12,965,649 ounces of gold (profits above what must go to the IMF’s Poverty Reduction and Growth Trust) to reduce Haiti’s debt, cut Haiti’s debt payments, and provide grants by February 1, 2015. The Treasury and State Secretaries are asked to use diplomatic influence to get any bilateral, multilateral, and private creditors to cancel Haiti’s remaining debts.