(11) Throughout this terrible calamity, the Hai-
tian people continue to demonstrate unwavering re-
silience, dignity, and courage. 
(12) Once proper surveys and assessments are 
conducted, the initial and crucial emergency relief 
response will likely move to a comprehensive mission 
requiring sustained assistance from the United 
States and the international community for recon-
struction and development efforts. 
(13) The Government of Haiti cannot afford to 
invest in reconstruction and development efforts, 
while continuing to make payments on debts owed to 
multilateral financial institutions like the Inter-
national Monetary Fund (IMF), the World Bank, 
and the Inter-American Development Bank and to 
other international creditors. 
(14) Prior to the earthquake, debt service pay-
ments to multilateral financial institutions and other 
international creditors already were a tremendous 
burden that interfered with the ability of the Gov-
ernment of Haiti to meet the needs of its people. 
(15) On June 30, 2009, the World Bank an-
nounced that Haiti qualified for and received $1.2 
billion in debt relief from the IMF, the World Bank, 
and other multilateral financial institutions. 
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(16) In order to qualify for debt relief, the Gov-
ernment of Haiti successfully developed and imple-
mented a comprehensive Poverty Reduction Strategy 
Paper, under the direction of the IMF and the 
World Bank. 
(17) According to the U.S. Department of the 
Treasury, despite previous debt relief, Haiti still 
owes a total of $709 million in debts to multilateral 
financial institutions, including $447 million to the 
Inter-American Development Bank, $165 million to 
the IMF, $39 million to the World Bank, and $58 
million to the International Fund for Agricultural 
Development. 
(18) According to the IMF, Haiti owed Ven-
ezuela $167 million and Taiwan $92 million at the 
end of September, 2008; furthermore, the amounts 
of these debts may have grown since that time. 
(19) The cancellation of Haiti’s debts to multi-
lateral financial institutions and other international 
creditors will allow the Government of Haiti to use 
its meager resources for essential reconstruction and 
development efforts. 
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SEC. 3. CANCELLATION OF HAITI’S DEBTS TO INTER-
NATIONAL FINANCIAL INSTITUTIONS. 
Title XVI of the International Financial Institutions 
Act (22 U.S.C. 262p et seq.) is amended by adding at 
the end the following new section: 
‘‘SEC. 1628. CANCELLATION OF HAITI’S DEBTS TO INTER-
NATIONAL FINANCIAL INSTITUTIONS. 
‘‘The Secretary of the Treasury shall instruct the 
United States Executive Directors at the International 
Monetary Fund, the International Bank for Reconstruc-
tion and Development (World Bank), the Inter-American 
Development Bank, and other multilateral development in-
stitutions (as defined in section 1701(c)(3)) to use the 
voice, vote, and influence of the United States to— 
‘‘(1) cancel immediately and completely all 
debts owed by Haiti to such institutions; 
‘‘(2) suspend Haiti’s debt service payments to 
such institutions until such time as the debts are 
canceled completely; and 
‘‘(3) provide additional assistance from such in-
stitutions to Haiti in the form of grants so that 
Haiti does not accumulate additional debts.’’. 
SEC. 4. CANCELLATION OF HAITI’S DEBTS TO OTHER 
CREDITORS. 
The Secretary of the Treasury shall commence imme-
diate efforts to urge other bilateral, multilateral, and pri-
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vate creditors to cancel immediately and completely all 
debts owed by Haiti to such creditors. 
Æ 
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