IV 
109TH CONGRESS 
2D SESSION 
H. RES. 888 
Urging multilateral financial institutions to cancel Haiti’s debts to such insti-
tutions under the Enhanced Heavily Indebted Poor Countries Initiative 
and the Multilateral Debt Relief Initiative immediately, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 22, 2006 
Ms. WATERS (for herself, Mr. FRANK of Massachusetts, Mr. FOLEY, Mrs. 
MALONEY, Mr. LEACH, Mr. DELAHUNT, Mr. BACHUS, Ms. LEE, Mr. 
PAYNE, Mr. ENGEL, Mr. CONYERS, and Mr. RANGEL) submitted the fol-
lowing resolution; which was referred to the Committee on Financial 
Services 
RESOLUTION 
Urging multilateral financial institutions to cancel Haiti’s 
debts to such institutions under the Enhanced Heavily 
Indebted Poor Countries Initiative and the Multilateral 
Debt Relief Initiative immediately, and for other pur-
poses. 
Whereas the Enhanced Heavily Indebted Poor Countries Ini-
tiative was established by the International Monetary 
Fund (IMF) and the International Bank for Reconstruc-
tion and Development (World Bank), in 1999, to reduce 
the excessive debt burdens of the world’s poorest coun-
tries, including debts owed to the IMF, the World Bank, 
and the Inter-American Development Bank; 
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•HRES 888 IH 
Whereas the Multilateral Debt Relief Initiative was nego-
tiated by the leaders of the G–8 countries at the G–8 
Summit in Gleneagles, Scotland, in 2005, in order to pro-
vide eligible poor countries complete cancellation of debts 
owed to the IMF and the World Bank; 
Whereas Haiti is the poorest country in the Western Hemi-
sphere; 
Whereas violence and natural disasters have caused tremen-
dous suffering and loss of life in Haiti; 
Whereas the IMF estimates that Haiti owes $1,071,700,000 
to 
multilateral 
financial 
institutions, 
including 
$9,100,000 to the IMF, $566,700,000 to the World 
Bank, and $470,900,000 to the Inter-American Develop-
ment Bank; 
Whereas much of Haiti’s debt burden was accumulated dur-
ing the oppressive rule of the Duvalier regimes, which did 
not use the money for the benefit of the Haitian people; 
Whereas the IMF estimated that Haiti would spend 
$46,200,000 on debt service payments to multilateral 
creditors 
during 
the 
2005 
fiscal 
year, 
including 
$4,800,000 to the IMF, $16,800,000 to the World Bank, 
and $21,600,000 to the Inter-American Development 
Bank; 
Whereas the debt service payments that the government of 
Haiti makes to multilateral creditors take money away 
from critical infrastructure development projects and es-
sential government services, including health care and 
education; 
Whereas Haiti has never benefitted from participation in the 
Enhanced Heavily Indebted Poor Countries Initiative or 
the Multilateral Debt Relief Initiative; 
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•HRES 888 IH 
Whereas the World Bank has predicted that Haiti may not 
receive complete debt cancellation from the IMF and the 
World Bank under the Multilateral Debt Relief Initiative 
until 2009; 
Whereas the impoverished people of Haiti cannot wait until 
2009 to experience the benefits of complete debt cancella-
tion; 
Whereas, on May 14, 2006, Rene Garcia Preval was sworn 
in as the President of Haiti following democratic elec-
tions in which 2,200,000 Haitians—more than 60 per-
cent of registered voters—participated; and 
Whereas the cancellation of Haiti’s debts will enable the 
newly-elected government of Haiti to improve health care, 
education, and other essential government services, invest 
in critical infrastructure, and improve the lives of the 
Haitian people: Now, therefore, be it 
Resolved, That the House of Representatives urges— 
(1) the International Monetary Fund, the Inter-
national Bank for Reconstruction and Development 
(World Bank), the Inter-American Development 
Bank, and other multilateral financial institutions to 
cancel completely Haiti’s debts to such institutions 
under the Enhanced Heavily Indebted Poor Coun-
tries Initiative and the Multilateral Debt Relief Ini-
tiative immediately; and 
(2) the Secretary of the Treasury to instruct 
the United States Executive Directors at such insti-
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•HRES 888 IH 
tutions to use the voice, vote, and influence of the 
United States to accomplish this goal. 
Æ 
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