Summary: H.R.4573 — 111th Congress (2009-2010)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Public Law No: 111-158 (04/26/2010)

(This measure has not been amended since it was passed by the Senate on March 26, 2010. The summary of that version is repeated here.)

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.