I 

117TH CONGRESS 

2D SESSION H. R. 7081 

To seek immediate bilateral, multilateral, and commercial debt service 

payment relief for Ukraine. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 15, 2022 

Mr. GARCI ́A of Illinois (for himself, Mr. HIMES, Mr. DAVID SCOTT of Georgia, 

Ms. OCASIO-CORTEZ, and Mr. QUIGLEY) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To seek immediate bilateral, multilateral, and commercial 

debt service payment relief for Ukraine. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Ukraine Comprehen5 sive Debt Payment Relief Act’’. 

6 SEC. 2. SUSPENSION OF MULTILATERAL DEBT PAYMENTS 

7 OF UKRAINE. 

8 (a) UNITED STATES POSITION IN THE INTER9 NATIONAL FINANCIAL INSTITUTIONS.—The Secretary of 

10 the Treasury shall instruct the United States Executive 


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1 Director at each international financial institution (as de2 fined in section 1701(c)(2) of the International Financial 

3 Institutions Act) to use the voice, vote, and influence of 

4 the United States to advocate that the respective institu5 tion immediately suspend all debt service payments owed 

6 to the institution by Ukraine. 

7 (b) OFFICIAL BILATERAL AND COMMERCIAL DEBT

8 SERVICE PAYMENT RELIEF.—The Secretary of the Treas9 ury, working in coordination with the Secretary of State, 

10 shall commence immediate efforts with other governments 

11 and commercial creditor groups, through the Paris Club 

12 of Official Creditors and other bilateral and multilateral 

13 frameworks, both formal and informal, to pursue com14 prehensive debt payment relief for Ukraine. 

15 (c) MULTILATERAL FINANCIAL SUPPORT FOR

16 UKRAINE.—The Secretary of the Treasury shall direct the 

17 United States Executive Director at each international fi18 nancial institution (as defined in section 1701(c)(2) of the 

19 International Financial Institutions Act) to use the voice 

20 and vote of the United States to support, to the maximum 

21 extent practicable, the provision of concessional financial 

22 assistance for Ukraine. 

23 SEC. 3. REPORT TO THE CONGRESS. 

24 Not later than December 31 of each year, the Presi25 dent shall— 


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1 (1) submit to the Committees on Financial 

2 Services, on Appropriations, and on Foreign Affairs 

3 of the House of Representatives and the Committees 

4 on Foreign Relations and on Appropriations of the 

5 Senate, a report on the activities undertaken under 

6 this Act; and 

7 (2) make public a copy of the report. 

8 SEC. 4. WAIVER AND TERMINATION. 

9 (a) WAIVER.—The Secretary of the Treasury may 

10 waive the requirements of section 2 on notifying the Con11 gress in writing that the waiver is important to the na12 tional interest of the United States. 

13 (b) TERMINATION.—The provisions of this Act shall 

14 have no force or effect on or after the date that is 7 years 

15 after the date of the enactment of this Act. 

Æ 


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