[Congressional Record Volume 156, Number 34 (Wednesday, March 10, 2010)]
[House]
[Pages H1288-H1295]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
HAITI DEBT RELIEF AND EARTHQUAKE RECOVERY ACT OF 2010
Mr. MEEKS of New York. Mr. Speaker, I move to suspend the rules and
pass the bill (H.R. 4573) to direct the Secretary of the Treasury to
instruct the United States Executive Directors at the International
Monetary Fund, the World Bank, the Inter-American Development Bank, and
other multilateral development institutions to use the voice, vote, and
influence of the United States to cancel immediately and completely
Haiti's debts to such institutions, and for other purposes, as amended.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 4573
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Haiti Debt Relief and
Earthquake Recovery Act of 2010''.
SEC. 2. DEBT RELIEF FOR HAITI.
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 INTERNATIONAL
FINANCIAL INSTITUTIONS.
``(a) In General.--The Secretary of the Treasury should
direct the United States Executive Director at the
International Monetary Fund, the International Development
Association, the Inter-American Development Bank, the
International Fund for Agricultural Development, and other
multilateral development institutions (as defined in section
1701(c)(3)) to use the voice, vote and influence of the
United States at each such institution to seek to achieve--
``(1) the immediate and complete cancellation of any and
all remaining debts owed by Haiti to such institutions;
``(2) the suspension of Haiti's debt service payments to
such institutions until such time as the debts are canceled
completely; and
``(3) the provision of emergency, humanitarian and
reconstruction assistance from such institutions to Haiti in
the form of grants or other assistance such that Haiti does
not accumulate debt.
``(b) Use of Certain Funds for Assistance to Haiti.--The
Secretary of the Treasury should instruct the United States
Executive Director of the International Monetary Fund to
advocate the use of some of the realized windfall profits
that exceed the required contribution to the Poverty
Reduction and Growth Trust (as referenced in the IMF Reforms
Financial Facilities for Low-Income Countries Public
Information Notice (PIN) No. 09/94) from the ongoing sale of
12,965,649 ounces of gold acquired since the second Amendment
of the Fund's Article of Agreement, to provide debt stock
relief, debt service relief, and grants for Haiti.
``(c) Securing Other Relief for Haiti.--The Secretary of
the Treasury and the Secretary of State should use all
appropriate diplomatic influence to secure cancellation of
any and all remaining bilateral, multilateral and private
creditor debt owed by Haiti.''.
SEC. 3. INFRASTRUCTURE INVESTMENT.
(a) Trust Fund.--The Secretary of the Treasury should
support the creation and utilization of a multilateral trust
fund for Haiti that would leverage potential United States
contributions and promote bilateral donations to such a fund
for the purpose of making investments in Haiti's future,
including efforts to combat soil degradation and promote
reforestation and infrastructure investments such as electric
grids, roads, water and sanitation facilities, and other
critical infrastructure projects.
(b) Increase in Transfer of Earnings.--The Secretary of the
Treasury should direct the United States 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.
The SPEAKER pro tempore. Pursuant to the rule, the gentleman from New
York (Mr. Meeks) and the gentleman from California (Mr. Gary G. Miller)
each will control 20 minutes.
The Chair recognizes the gentleman from New York.
General Leave
Mr. MEEKS of New York. Madam Speaker, I ask unanimous consent that
all Members may have 5 legislative days within which to revise and
extend their remarks on this legislation, and to insert extraneous
materials thereon.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from New York?
There was no objection.
Mr. MEEKS of New York. Madam Speaker, I yield myself 5 minutes.
Today, Madam Speaker, we consider an issue that is close to all of
our hearts. Haiti suffered a devastating earthquake on January 12 of
this year. The country, which was finally making strides to more stable
economic and political growth after so many failed governments of the
past, was rocked by a natural disaster of historic proportions. The
images from the disaster are fresh in our minds. The immediate needs of
the people are clear, and the desire of the global community and the
average American citizens to help Haiti recover as fast as possible are
clear and give us all hope.
Earlier today, I joined with President Obama and other members of
this House at the White House in restating America's commitment to
stand by our brothers and sisters in Haiti, and to lend them a hand up
to get back on a path to economic growth and social healing. In
speaking with President Preval today, I told him that Haiti debt relief
was but the first of a broader set of initiatives that we will
undertake to enable the people of Haiti to rebuild their country, their
lives, their businesses, and their communities.
{time} 1845
As Chair of the International Monetary Policy and Trade Subcommittee,
I am proud to have moved this bill successfully in a strongly
bipartisan manner. I thank the woman whose name will appear on this
bill who has worked very hard to make this bill happen, the chairwoman
of the Subcommittee on Housing, the gentlewoman from California (Ms.
Waters) who has been a long and strong supporter for Haiti.
Forgiving Haiti's debts to the World Bank, the IMF, the IDB, and IFAD
is good policy and is the right thing to do. But forgiving these debts
alone will not deliver the desperately needed tents to provide shelter
from the impending rainy season. Debt relief alone will not rebuild
roads, hospitals, churches, schools, and the physical infrastructure
that Haiti needs to get back to work. Debt relief alone will not heal
the physical and psychological wounds of the injured and traumatized or
develop the human capital the country needs so desperately. As our
agencies, from USAID to the Treasury Department, to the State
Department, to our Armed Forces, to average citizens from around the
country, lend support to Haiti in the immediate aftermath of the
earthquake, we must not lose sight of the longer-term needs of this
country, its government, and its people.
Indeed, we are now moving to the second and third phase of a long and
arduous process; namely, moving from the immediate rescue and survival
concerns, though they are still critical, to reconstruction and
ultimately long-term economic recovery. Doing this will require
leadership of the Haitian people and government as they take ownership
for the future they care to build. It will also require effective
coordination of our aid and development efforts to limit waste,
duplication and, ultimately, loss of goodwill.
As we do all of this and as implementation is planned, special
attention
[[Page H1289]]
needs to be paid to the need to rebuild Haiti's human capital. Several
of our government agencies are already at work doing this, and I will
keep pressure on them, as I am sure others in this House will, as well
as the development banks and international financial institutions, to
ensure that they invest heavily in developing the people of Haiti and
the institutions of Haiti, to enable them to effectively govern and set
their own path to a brighter future with dignity and independence.
Lastly, I will keep the pressure on the international institutions to
deliver the necessary resources to Haiti without adding to that
nation's long-term debt burden. In over 200 years of independence,
Haiti has always been saddled with unsustainable debts, whether
extraordinarily high debt obligations owed to the French as a condition
of independence in the early 1800s, as is often brought out by
Congressman Green of Houston, or from international institutions
unscrupulously saddling the people of Haiti with debts diverted by
dictators in the second half of the 20th century, or over $1 billion in
debts still owed today, despite the country having earned $1.2 billion
in debt forgiveness from the international institutions last year.
The people of Haiti have worked far too long and far too hard to
repay debts they had little say in accruing and which have yielded very
little benefit to the average citizen. This cynical game of debt
accrual and debt forgiveness must end, and as Chair of the
International Monetary Policy Subcommittee, I will be doing my part to
see that happens. The people of Haiti deserve better than that and
deserve a chance to invest in their own futures.
March 8, 2010.
Hon. Barney Frank,
Chairman, Committee on Financial Services, Rayburn House
Office Building, Washington, DC.
Dear Chairman Frank: I am writing to you concerning H.R.
4573, the Debt Relief for Earthquake Recovery in Haiti Act of
2010, introduced by Rep. Maxine Waters on February 2, 2010.
This bill contains provisions within the Rule X
jurisdiction of the Committee on Foreign Affairs. In the
interest of permitting your Committee to proceed
expeditiously to floor consideration of this important bill,
I am willing to waive this Committee's right to mark up this
bill. I do so with the understanding that by waiving
consideration of the bill, the Committee on Foreign Affairs
does not waive any future jurisdictional claim over the
subject matters contained in the bill which fall within its
Rule X jurisdiction.
Further, I request your support for the appointment of
Foreign Affairs Committee conferees during any House-Senate
conference convened on this legislation.
Please include a copy of this letter and your response in
the Congressional Record during consideration of the measure
on the House floor.
Sincerely,
Howard L. Berman,
Chairman.
____
March 8, 2010.
Hon. Howard Berman,
Chairman, Committee on Foreign Affairs, House of
Representatives, Washington, DC.
Dear Mr. Chairman: Thank you for your letter concerning
H.R. 4573, the ``Debt Relief for Earthquake Recovery in Haiti
Act of 2010.'' This bill will be considered by the House
shortly.
I want to confirm our mutual understanding with respect to
the consideration of this bill. I acknowledge that portions
of the bill fall within the jurisdiction of the Committee on
Foreign Affairs and I appreciate your cooperation in moving
the bill to the House floor expeditiously. I further agree
that your decision to not to proceed with a markup on this
bill will not prejudice the Committee on Foreign Affairs with
respect to its prerogatives on this or similar legislation. I
would support your request for an appropriate number of
conferees in the event of a House-Senate conference.
I will include a copy of this letter and your response in
the Congressional Record. Thank you again for your
cooperation.
Barney Frank,
Chairman.
Madam Speaker, I reserve the balance of my time.
Mr. GARY G. MILLER of California. Madam Speaker, I yield to the
gentleman from Alabama (Mr. Bachus) such time as he may consume.
Mr. BACHUS. I thank the ranking member for yielding, and I want to
commend him for his work on this legislation. I also want to commend
Chairman Waters and Chairman Meeks for their work, and other Members
who I think have worked in a bipartisan way for an excellent
legislation and a very worthy legislation. I rise in complete support
for the Debt Relief for Earthquake Recovery Act.
If you picked a country and a capital in a country anywhere in the
world which could least deal with a devastating earthquake, it would be
Port-au-Prince, Haiti. You could not visualize a worse scenario.
The immediate legacy, other than which you have witnessed on the TV
screens here in America, is that there will be virtually a generation
of orphans who have lost their parents. That alone would be a challenge
for any country. Think of New Orleans and what a challenge that has
been for our country. For Haiti, it is a monumental undertaking. And,
quite frankly, it is hard to visualize in our lifetime seeing Haiti
recover.
The human tragedy following that earthquake is overwhelming. As
Haiti's citizens seek to rebuild, I think it is very important for us
to stand with them and alongside them. And I commend the administration
for their efforts since the earthquake. Many of our agencies are there.
Many of our charities are there. Many of our church groups are there.
Many of our NGOs are there: the Jubilee Act, Melinda St. Louis, her
organization; Tom Hart of the One Campaign. I think those two
organizations have done a wonderful job of highlighting the need not
only in Haiti, but in many of the impoverished countries.
The first measure we can take--other than the efforts that we have
witnessed, many American volunteers and government efforts--to ensure
that all of Haiti's remaining resources are devoted to reconstruction
and not to development loans that it is unrealistic to expect can ever
be repaid, this legislation is a part of that step.
Haiti's impoverished condition dates back to its origins under French
colonial rule, to 1804, 205, 206 years ago, when Haiti's citizens won
their independence in a revolution similar to our revolution from the
French colonial regime. France imposed a blockade and imposed and
extracted a promise of $21 billion in reparations, and that is $21
billion in today's currency. That is greater than the debt incurred at
that time by the United States, a much bigger government. So Haiti,
when they were born as a country, they were immediately impoverished,
and their enslavement continued. I will say that.
The amazing thing, if you look at that debt that the French imposed
and you read about it, part of the debt was repayment for compensation
for property, which included the slave population. I mean, that's
amazing. That's amazing. That is something that we can't go back and do
anything about, but we can certainly do something today. But when the
French lost their ability to enslave that population, they extracted,
because of their navy, a blockade and that debt.
With the country's economic productivity being drained, since its
inception, to pay this enormous debt, which has never been paid off,
never paid off because there were other debts added, economic
development stifled since 1804.
Sometimes we say, Why Haiti? Why is it so poor? Why has it always
been so poor? It never stood a chance.
In more recent times, and one would think that things couldn't get
worse than that, Duvalier, under his dictatorship, was responsible for
more than 40 percent of the additional loans to Haiti. I mean, think
about loaning to a dictator who is suppressing his people. We have seen
that in Africa and other places, and it is an absurdity that we ought
to address in Haiti and we ought to address in other places because, in
that way, countries that did that contributed. The brutal regime
further despoiled the country by diverting funds borrowed for
development to their own personal enrichment to bank accounts out of
the country.
With this history, it is no surprise that Haiti was deeply
impoverished since the beginning, their foundation as a nation. And
this bill by Ms. Waters and others takes a very fine first step toward
the goal of eliminating Haiti's uncollectible debts so that the country
can begin, for the first time, really, the process of becoming self-
sustaining, and they are going to need a lot of help.
The text to be considered says the Treasury Secretary should direct
U.S. representatives at international financial institutions to work
with their
[[Page H1290]]
colleagues to try to achieve cancellation of debt owed by Haiti to
those institutions. Since any cancellation would take months to
accomplish, it seeks suspension of debt payment services until the
cancellation takes place. None of these institutions realistically
expects Haiti to service its debt at a time Haiti is lying in ruins.
As a former Treasury Under Secretary before our committee last week
said, it is a ``cruel hoax'' on both the people of developing countries
and on the taxpayers of donor nations to pretend that even without an
earthquake, Haiti, a country whose citizens subsist on a dollar or two
a day, is ever going to be able to pay back billions of dollars in
development loans.
The United States has always been a benevolent and caring country.
Even during our current economic challenges, we have not lost our
compassion. In fact, our present travails have, in some respects, I
believe, given us a greater appreciation for the desperation and
suffering of those facing challenges and hardships in Haiti, although
theirs are much greater than anything that we are undergoing.
The United States, and let me stress this, if you don't hear anything
else, if you are thinking about voting against this bill, hear this:
The United States has forgiven all of its bilateral debt to Haiti. What
we are asking is we are asking others to do what we have done. What we
are doing with this is directing the Secretary of the Treasury to use
his voice and influence to seek debt cancellation from others. Among
them are Venezuela and Taiwan. By far, Venezuela is the largest
bilateral creditor. Taiwan is a distant second. Forgiving the debt
Haiti owes to multilateral agencies is consistent with our principles,
and we can lead by example while we lend a helping hand.
In conclusion, Madam Speaker, this bill before us contains some minor
changes to the bill that came out of the Committee on Financial
Services, all of which I support. The changes don't add any cost. They
don't change the intent of the bill.
Added at the end of original committee text is a section very similar
to the bill that the Senate passed last week by unanimous consent. The
section says the Secretaries of State and Treasury should support the
creation and use of a multinational trust fund that could include and
leverage any future U.S. aid to Haiti, and that aid ought to be in the
form of grants, not loans, and that the Secretary of the Treasury
should seek a speed-up in interbank transfers at the Inter-American
Development Bank so they may be used in Haiti's recovery.
These are sensible steps, and I support the changes and I commend my
colleagues who are also here in support of this very worthy
legislation.
Mr. MEEKS of New York. I want to thank the ranking member of the full
committee as well as the ranking member of the subcommittee for the
cooperative spirit in working together in getting this bill to where it
is today. Thank you for working in a very bipartisan manner to this
point.
At this time, I would like to yield 5 minutes to the gentlewoman from
California (Ms. Waters) who is the author of this bill and who has been
a longtime supporter for the people of Haiti.
Ms. WATERS. First, I would like to thank the gentleman from New York
(Mr. Meeks) for the time, and I appreciate all of the work that he has
done on this bill.
Indeed, I would also like to thank all of the Members who support
this bill, including Barney Frank, the chairman of the Financial
Services Committee, who made sure we got the bill up and going and we
could expedite it in a way I have never seen any other bill expedited.
I thank Spencer Bachus, the ranking member of the Financial Services
Committee, whom I have worked with for over 10 years, appreciating that
he understands so very thoroughly the history of Haiti and what it
means to the world.
I thank Gregory Meeks, again, the chairman of the International
Monetary Policy and Trade Subcommittee, whose manager's amendment added
so much in the way of improvement to this bill, and the gentlewoman
from Florida (Ms. Ros-Lehtinen), the ranking member of the Foreign
Affairs Committee; Eliot Engel, chairman of the Western Hemisphere
Subcommittee, and all of the other cosponsors of the bill, and
especially the Congressional Black Caucus.
{time} 1900
I would also like to thank Kathleen Sengstock, my senior legislative
assistant, who worked very hard on this bill. Kathleen is an expert on
debt relief and has worked for the past 10 years on debt relief for all
of the poor countries of the world.
I would also like to thank Daniel McGlinchey and other professional
staff persons with the Financial Services Committee.
Ladies and gentlemen, Haiti was struck by a devastating earthquake on
January 12, 2010. According to the U.S. Agency for International
Development, 230,000 people were killed and 1.3 million people were
displaced from their homes. There is still a desperate need for clean
water, food, shelter, and basic sanitation. Three million people, one-
third of the country's population, were affected by the earthquake.
Today, we are very fortunate to have in this country the President of
Haiti, President Preval. The CBC--that is, the Congressional Black
Caucus--held a meeting with President Preval, and he thanked us all,
not only the members of the Congressional Black Caucus, but all of the
Members of Congress and the American people for the aid and support we
have provided for Haiti. He thanked all of the American agencies for
the lives that they have saved, the food that they have distributed,
along with the water and the medical care and much more.
He reminded us that the rains are coming, and perhaps hurricanes, and
there is still a need for emergency adequate shelter, and of course
long-term housing. But today we are talking about one of the simplest
but most important things we can do to help Haiti: That is to cancel
its debt.
Haiti's democratic government has worked very hard in recent years to
qualify for debt relief. In order to qualify, the Government of Haiti
successfully developed and implemented a comprehensive poverty-
reduction strategy paper under the direction of the International
Monetary Fund and the World Bank. As a result, multilateral financial
institutions provided Haiti $1.2 billion in debt relief last June. This
was a critical step forward for Haiti. Nevertheless, Haiti still has a
significant debt burden that will interfere with recovery and
development efforts unless the remaining debts are canceled.
According to the U.S. Treasury Department, Haiti still owes $828
million to the multilateral development institutions. This includes
$447 million to the Inter-American Development Bank, $284 million to
the IMF, $39 million to the World Bank Group's International
Development Association, and $58 million to the International Fund for
Agricultural Development. In addition, Haiti owes approximately $400
million to other individual countries.
I introduced H.R. 4573, the Debt Relief for Earthquake Recovery in
Haiti Act of 2010, to free Haiti from the burden of these debts. The
bill directs the Secretary of the Treasury to instruct the U.S.
executive directors at the multilateral development institutions to use
the voice, vote, and influence of the United States to achieve several
things: The immediate and complete cancellation of all debts owed by
Haiti to these institutions; the suspension of Haiti's debt service
payments until such time as the debts are canceled; and the provision
of emergency humanitarian and reconstruction assistance to Haiti in the
form of grants so that Haiti does not accumulate additional debt.
This bill also directs the Secretary of the Treasury and the
Secretary of State to use all appropriate diplomatic influence to
secure the cancellation of all remaining bilateral, multilateral, and
private creditor debt owed by Haiti. Debt cancellation will allow the
Government of Haiti to focus its meager resources on essential
humanitarian relief, reconstruction, and redevelopment.
The people of Haiti are poor, but they are physically and spiritually
resilient. I know that with the support of the international community
they will recover from this tragedy and create a brighter future for
their children.
I urge my colleagues to support the Debt Relief for Earthquake
Recovery in Haiti Act of 2010.
[[Page H1291]]
Mr. GARY G. MILLER of California. Madam Speaker, I yield myself such
time as I may consume.
Madam Speaker, I rise today in support of this bill, the Debt Relief
for Earthquake Recovery in Haiti Act of 2010.
Representatives Meeks and Waters wasted no time responding with this
legislation. They have been the most stalwart proponents of the Haitian
people, and the Haitian people are very fortunate to have them on their
side. I want to applaud them for their efforts with this act.
As the Members of this body know, on January 12, 2010, Haiti
experienced a 7.0 magnitude earthquake centered approximately 15 miles
southwest of the nation's capital, Port-au-Prince. What followed were
50 aftershocks with magnitudes over 4.0, all occurring within 24 hours.
As of now, the Haitian Government has estimated 230,000 deaths and
300,000 injured. Additionally, 700,000 people have been displaced in
the Port-au-Prince area. Damage caused by the earthquake is estimated
between $8 billion and $14 billion, with reports speculating that
reconstruction costs could approximate $14 billion.
As the people of Haiti strive to put the pieces of their lives and
the country back together, Congress clearly needs to help. This bill
would have the Secretary of the Treasury instruct the U.S.
representatives at the World Bank, the IMF, the Inter-American
Development Bank, and other multilateral institutions to use their
influence at these institutions to reach an agreement on relieving
Haitian debt to these entities and to suspend Haiti's debt service
payments until those debts are canceled.
Additionally, U.S. representatives at these institutions would
advocate that future aid provided to Haiti be grant-based to avoid
placing the country immediately back in debt as they seek to rebuild.
In the shadow of a tragedy this size, this is an important first step,
but I think the body must consider how much more can be done.
So often American efforts to provide aid to impoverished nations come
in the form of a check, which does provide a significant boost, but the
goal here is to mitigate the impact of the disaster on the people. I
hope this body can look at areas where American resources and know-how
can be invested in Haitian society. In addition to feeding the people
and providing shelter and medical care, we can leverage American
resources so that we aren't simply sending a check.
Americans are the most generous people in the world. In the aftermath
of this tragedy, the citizens of this country have raised tens of
millions of dollars to help the Haitian people. We should also be
looking to send our heavy machinery and engineering capabilities along
with qualified American workers--many of whom have been out of work
themselves--to assist the Haitian people rebuild their nation quicker
and more effectively.
We will be holding a hearing next week in Financial Services to
discuss many of these issues, and I look forward to working with my
colleagues on ways that we can further leverage our Nation's great
resources.
In conclusion, I want to thank Representatives Waters and Meeks for
introducing this legislation. You have been strong advocates, and I
really applaud you for the efforts. I thank you for allowing me to
participate here tonight.
I strongly urge support of this bill.
I reserve the balance of my time.
Mr. MEEKS of New York. It is my honor to yield 1 minute to the
distinguished Chair of the Financial Services Committee who has led us
this far, the gentleman from Massachusetts, the Honorable Barney Frank.
Mr. FRANK of Massachusetts. Madam Speaker, I hope people will take
note that there is not a correlation between the importance of what we
do and the attention that what we do gets. This is not controversial
because it is a product of genuine cooperation.
I am delighted to be on the floor with my friend, the gentleman from
Alabama (Mr. Bachus). A few years ago, along with him and the gentleman
from California and our former colleague, the gentleman from Iowa, Mr.
Leach, we, frankly, beat the leaderships of both parties and the
Clinton administration to get debt relief through. They've learned, so
we don't have to fight so hard this time for a very important cause.
I am very pleased to be joining in this wholly cooperative way in a
morally compelled response to the problems of the people of Haiti. And
I join in thanking the gentlewoman from California again, the gentleman
from New York, and my colleagues on the other side from California and
Alabama for letting us bring this forward.
Various Members and their staffs have been congratulated, as they
should be. It's not as easy to do the right thing as it sometimes
seems; you want to make sure you get it done well.
I just want to single out Daniel McGlinchey on the staff of the
Financial Services Committee, who has been working at this for a long
time, in cooperation with the others. This is a day in which the House
can be proud, even if, because we're not yelling at each other, the
press won't notice.
Mr. GARY G. MILLER of California. I reserve the balance of my time.
Mr. MEEKS of New York. Madam Speaker, it is my honor to yield 2
minutes to the chairwoman of the Congressional Black Caucus, a longtime
fighter for Haiti, the Honorable Barbara Lee.
Ms. LEE of California. Thank you very much, Chairman Meeks.
Let me just first say how much I want to support this bill today and
thank Chairman Meeks for his steady and consistent support for Haiti,
and also Chairman Frank.
Also, let me just say, as Chair of the Congressional Black Caucus, I
have to extend our thanks to Congresswoman Maxine Waters for her work
on this bipartisan resolution, especially also for her long-term
leadership on the campaign for debt relief for Haiti and for all
countries in the developing world. Congresswoman Waters has been a
friend, an ally of the Haitian people for many years, long before this
devastating earthquake struck.
Also, to the ranking members, your support and your sense of justice
for Haiti is deeply appreciated.
The Congressional Black Caucus has a long history of working with the
Haitian and Haitian-American communities, and many of us have traveled
to Haiti several times. During the current crisis, the Congressional
Black Caucus has and will continue to work closely with the Obama
administration, the Government of Haiti, and the nongovernmental
organizations to provide whatever assistance we can on an ongoing basis
to help with the recovery and reconstruction efforts.
Debt relief is not a matter of charity; it is really a matter of
economic justice. Over half of Haiti's debt was borrowed under Haiti's
dictatorships, some of which were brutally repressive. Thus, moneys
borrowed by these regimes should not be borne by the Haitian people who
had no say whatsoever on how these moneys were spent.
But more to the point, I think that it is obvious that Haiti is not
in a position to service debt--nor should it be--while it is struggling
to meet the basic needs of its people like food, water, health care,
and shelter. It is looking to rebuild from the most devastating tragedy
to strike the island nation in its history. I know that the leaders of
the international financial institutions feel the same way, and they
understand this bill and that Haiti should not have to repay its debt.
The United States Government and other donor nations must work with
these institutions to fashion a plan for it, and this bill offered by
Congresswoman Waters offers a legal framework and mandate to do just
that.
Finally, I just want to say that I hope this bill passes on a
bipartisan basis.
Mr. GARY G. MILLER of California. Madam Speaker, am I correct that we
have 7 minutes remaining?
The SPEAKER pro tempore. The gentleman is correct.
Mr. GARY G. MILLER of California. Mr. Meeks, I would be happy to
yield 4 minutes of our time to you because I see you have numerous
speakers, and I think you could probably utilize that time in
additional speaking.
I yield myself 1 minute at this point in time.
As I have spoken to my good friends, Mr. Green, Mr. Meeks and Ms.
Waters, about introducing legislation to
[[Page H1292]]
help employ American workers in Haiti, we are going to be giving--and
other groups are giving--tremendous amounts of money to Haitians and to
the Haitian Government to basically rebuild. We all believe that it is
important, with the amount of American workers, especially construction
industries, that we have that are unemployed, to utilize many of our
dollars to send the expertise and skills we have in contractors and
workers and laborers from the United States to work with the labor and
the Haitian people to rebuild their country.
I want to commend my colleagues on the other side of the aisle for
working with me on this. We are close to having legislation done. Ms.
Waters, I spoke to you today, and we will be getting that to all of you
to review before I introduce it. Hopefully we can bring this up in
committee within a couple of weeks to start implementing American
manpower and resources to help the Haitian people, and also, at the
same time, to benefit those Americans that are out of work.
I reserve the balance of my time.
Mr. MEEKS of New York. Madam Speaker, how much time do we have
remaining?
The SPEAKER pro tempore. The gentleman currently has 7\1/2\ minutes
remaining.
Mr. GARY G. MILLER of California. I would be happy to yield 4 of our
minutes to my good friend from New York (Mr. Meeks).
The SPEAKER pro tempore. Without objection, the gentleman from New
York will control 11\1/2\ minutes.
There was no objection.
Mr. MEEKS of New York. It is my pleasure now to yield 1\1/2\ minutes
of that to the gentlelady from the great State of Florida, the
Honorable Corrine Brown.
Ms. CORRINE BROWN of Florida. Madam Speaker, I stand in strong
support of the Debt Relief for Earthquake Recovery in Haiti Act
introduced by my dear friend and colleague, Representative Maxine
Waters.
Like so many of my colleagues here in the Congress, and particularly
in the CBC, we have been working to improve the lives of the people of
Haiti for many, many years.
I was in Haiti last October with Chairman Oberstar and Congressman
Gregory Meeks, and we met with President Preval and members of the
Haitian Cabinet to discuss ways to improve the nation's infrastructure
system, which is absolutely vital to Haiti's future economic
development.
Haiti is an island filled with good-willed, hardworking people, yet
their lives are extraordinarily difficult because their country has
been in great turmoil for decades, long before the terrible earthquake
that hit Port-au-Prince.
Being from Florida, Haiti has always been very, very near and dear to
my heart. In my congressional district of Florida, we worked with
numerous area churches, businesses, and nonprofit organizations to make
about 60 donations of tractor-trailers filled with supplies for the
Haitian people.
{time} 1915
We worked with nonprofit organizations and with Food For The Poor,
and it was transported by the Royal Caribbean Cruise Line--all at no
cost to the people of Haiti. You know, because Haiti is not on the
front pages of the paper, their needs are very important, and we need
to continue to work to help the people of Haiti.
I want to thank all of my colleagues for doing it. This is a really
wonderful first step.
Mr. GARY G. MILLER of California. Madam Speaker, I continue to
reserve the balance of my time.
Mr. MEEKS of New York. I yield 1\1/2\ minutes to one who is called
from the Caribbean, the gentlewoman from the great State of New York,
the Honorable Yvette Clarke.
Ms. CLARKE. Madam Speaker, I rise in support of H.R. 4573, the Debt
Relief for Earthquake Recovery in Haiti Act.
I would like to acknowledge the tremendous leadership of the
gentleman from New York (Mr. Meeks) and the leadership of the
gentlewoman from California (Ms. Waters), who is the author of this
legislation.
As Representative of the second largest Haitian population in the
country, I commend the Obama administration's swift response to the
Haitian crisis. Without the President's comprehensive relief campaign,
which included food, water, medical, and military assistance, as well
as the $100 million in aid, we would not be at the point we are, which
is ready to discuss the next step. Thankfully, we are.
We must remember that the January earthquake did not create the
troubling conditions in Haiti, although it certainly exacerbated them.
Haiti is already the poorest nation in the Western Hemisphere. H.R.
4573, the Debt Relief for Earthquake Recovery in Haiti Act, will
achieve three distinct goals which will help to keep the focus on
humanitarian assistance.
First, the Secretary of the Treasury would instruct the U.S.
executive directors of the institutions which lent money to the Haiti
Government to immediately cancel all debts owed to Haiti to their
respective institutions.
Next, Haiti's debt service payments would be suspended.
Lastly, grants would be provided for additional assistance so that
Haiti would not accumulate additional debts.
It is my hope that, as we continue to rebuild, our rebuilding effort
will not begin until the relief effort has concluded, and it will be
dependent on all allowing Haiti to focus solely on humanitarian aid. To
do this, it is imperative that we cancel the debts of the Haitian
Government.
Mr. GARY G. MILLER of California. Madam Speaker, I continue to
reserve the balance of my time.
Mr. MEEKS of New York. I yield 1\1/2\ minutes the hardworking
gentleman from the great State of Texas, the Honorable Al Green.
Mr. AL GREEN of Texas. I want to thank the team that worked on this
effort. Of course, that would be the honorable Chair of the
subcommittee, Mr. Meeks. It would be the Honorable Maxine Waters. It
would also be Mr. Miller, the ranking member on the subcommittee and,
of course, the ranking member of the full committee, Mr. Bachus.
Madam Speaker, I must tell you that my comments have been revised
because I cannot allow this moment to go by without speaking to the
comments that were made by Mr. Bachus.
He spoke to our hearts and he spoke truth. It's not easy to stand in
the well of the House of Representatives and speak the kind of truth
that we heard. A son of the South and a Representative from Alabama
stood in the well of the House, and he spoke the truth about one of the
greatest atrocities ever imposed upon humankind and about how one
country, in an effort to extricate and liberate itself, had to pay for
the very liberation that it accorded itself. It meant something to me
to hear this son of the South speak this kind of truth in the well of
the Congress of the United States of America.
So I commend you and I salute you.
Mr. Miller, I thank you as well.
The two of you deserve to have it said that you truly spoke truth to
power tonight. Thank you.
Mr. GARY G. MILLER of California. Madam Speaker, I yield to the
ranking member of the committee, the gentleman from Alabama.
Mr. BACHUS. Madam Speaker, I would like unanimous consent for an
additional minute on each side.
The SPEAKER pro tempore. Without objection, each side will control 1
additional minute.
There was no objection.
Mr. BACHUS. Madam Speaker, I now ask unanimous consent to yield our 1
minute to the majority.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Alabama?
There was no objection.
Mr. MEEKS of New York. I yield 1\1/2\ minutes to the gentlewoman from
the great State of Texas, Ms. Sheila Jackson Lee.
(Ms. JACKSON LEE of Texas asked and was given permission to revise
and extend her remarks.)
Ms. JACKSON LEE of Texas. This is a very historic occasion.
I would like to thank Congresswoman Waters for her continued and
persistent leadership on debt relief for countries around the world.
I thank the chairman of the subcommittee, Mr. Meeks of New York, for
his persistence and guidance on passing this bill so quickly with Mr.
Bachus and Mr. Miller. Thank you for your commitment and for your
interesting and very good idea about putting Americans to work.
[[Page H1293]]
Madam Speaker, I rise today to support this legislation to
acknowledge that we are talking about a country right now that has only
20 percent of the revenue that it needs to run its nation. They need
seed. They need fertilizer. They are living some 80 percent below the
poverty line, owing some $709 million in debts to multilateral
financial institutions--$447 million to the Inter-American Development
Bank--and also to countries such as Venezuela. This legislation will,
in essence, help us clear the slate of all of those debts, and it will
help us track what the United States has done.
I would like to take this time to thank all of the first responders,
USAID and so many who stood tall when Haiti called. Today, in the White
House, it was good to be able to acknowledge those first responders
from around the world, from around the Nation, in addition to the
United States military.
Helping them with this debt relief over all the land will allow the
President to focus on building and on rebuilding--rebuilding Port-au-
Prince, rebuilding the suburbs in the outlying areas--and to focus on
creating jobs for the Haitian people and on bringing contractors there
who will work with Haitians in a joint venture with agencies. So the
relief of this debt, I believe, is an enormous step in making a
difference in the lives of Haitians.
I want to thank you and ask support of this legislation.
Madam Speaker, I rise in support of H.R. 4573--the Debt Relief for
Earthquake Recovery in Haiti Act of 2010. As, a co-sponsor of this
bill, I strongly believe that it is a necessary step to ensure a
successful recovery in Haiti.
Haiti's long term development is currently hampered by its debt
burden. January's earthquake struck Haiti during a time of economic
vulnerability. Before the earthquake, Haiti was, by far, the poorest
country in the Western Hemisphere.
Before the earthquake, Haiti also has among the world's lowest levels
of gross domestic product per capita. An estimated 80 percent of the
population lived under the poverty line with 54 percent living in
abject poverty, according to the CIA World Factbook. According to the
United Nations Human Development Report, more than two-thirds of the
labor force is believed to not have formal jobs, and just 62.1 percent
of adults over age 15 are literate. Additionally, 18 percent of
Haitians did not live to the age of 40.
Yet, despite the destruction wreaked by multiple tropical storms in
2008, Haiti's economy and infrastructure-building seemed to be turning
a corner in recent years, aided by international support and debt
relief programs.
In fact, according to the New York Times, ``Haiti was one of only two
Caribbean countries expected to grow in 2009. There were hopes of a
tourism revival, reinforced by the announcement that a new Comfort Inn
would open there this May. In a sign of its growing structural
sophistication, Haiti even recently announced that it would begin
collecting better national statistics, with the help of the
International Monetary Fund, so that it could better assess and
calibrate its economic policies.'' The earthquake on January derailed
this progress.
As this legislation states, 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 International Monetary Fund (IMF), the World Bank, and the Inter-
American Development Bank and to other international creditors.
Prior to the earthquake, debt service payments to multilateral
financial institutions and other international creditors already were a
tremendous burden that interfered with the ability of the Government of
Haiti to meet the needs of its people.
On June 30, 2009, the World Bank announced that Haiti qualified for
and received $1.2 billion in debt relief from the IMF, the World Bank,
and other multilateral financial institutions. In order to qualify for
this debt relief, the Government of Haiti successfully developed and
implemented a comprehensive Poverty Reduction Strategy Paper, under the
direction of the IMF and the World Bank.
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.
According to the IMF, Haiti owed Venezuela $167 million and Taiwan
$92 million at the end of September, 2008; furthermore, the amounts of
these debts may have grown since that time. The cancellation of Haiti's
debts to multilateral financial institutions and other international
creditors will allow the Government of Haiti to use its meager
resources for essential reconstruction and development efforts.
As important as this legislation is, it is only one part of a much
larger American assistance response to the earthquake. America will
continue to respond with humanitarian assistance to help the people of
this struggling island nation rebuild their livelihoods. I send my
condolences to the people and government of Haiti as they grieve once
again in the aftermath of a natural disaster. As Haiti's neighbor, I
believe it is the United States' responsibility to help Haiti recover,
and build the capacity to mitigate against future disasters.
To date the United States Government has contributed over $402
million in earthquake response funding for Haiti. It has also deployed
approximately 17,000 military personnel in support of the relief
effort. Subsequently, as part of the new Government of Haiti-led
effort, the U.N. World Food Program will provide commodities, non-
governmental organizations will manage distributions, and U.S. military
will provide security escorts.
America and her allies have already initiated a comprehensive,
interagency response to the earthquake. The State Department,
Department of Defense, Department of Homeland Security, Coast Guard,
USAID--all worked overnight to ensure critical resources were
positioned to support the response and recovery effort, including
efforts to find and assist American citizens in Haiti.
Once again I stand in solidarity with the people of Haiti and will do
everything in my power to assist them with rebuilding their country and
livelihoods. I am proud of our first responders and pledge that
America's long term commitment to Haiti will live up to the standard
that the first responders set.
Mr. GARY G. MILLER of California. Madam Speaker, I continue to
reserve the balance of my time.
Mr. MEEKS of New York. It is my honor to yield 2 minutes to the
chairman of the Subcommittee on Africa and Global Health, a longtime
fighter for Haiti, the gentleman from New Jersey, the Honorable Donald
Payne.
Mr. PAYNE. Let me begin by commending Mr. Meeks from New York and Ms.
Waters from California for this very important legislation, H.R. 4573,
Debt Relief for Earthquake Recovery in Haiti.
I also would like to acknowledge Mr. Bachus for his very impassioned
speech. Yet I am not surprised.
Mr. Bachus, you may recall, when we were fighting the brutal
Government of Sudan, we tried to get capital market sanctions. You
supported our legislation that brought Mr. Greenspan to the Senate to
say, Defeat the Payne-Bachus legislation because it would disrupt the
stock market. So I commend you again for the great work that you have
done.
Madam Speaker, as we have mentioned, Haiti has had such a tremendous
history. Since we know what is in the bill, I might also mention that
it was during the Revolutionary War that Haitian soldiers fought in one
of the key battles, the Battle of Savannah, where just recently a
statue was completed in Savannah. I spoke at the dedication a year or
so ago. It turned the tide of the war.
Haitian soldiers fought in a number of battles to help the original
colonies of the United States become independent from Britain. So they
shed blood for our independence. Many people didn't know that.
Then, as you know, with the defeat of Napoleon's army by Haiti, as
was talked about, the reparations that had to be paid back caused
France to be cash poor and land rich. It therefore forced them to sell
the Louisiana Territory to the United States because it had lost the
cash that Haiti had produced. Over 50 percent of all the commodities of
tea and coffee and sugar in Europe came from Haiti. France lost that
and therefore needed the cash from the Louisiana sale to have its
treasury boosted. As a result, the Lewis and Clark expedition began in
St. Louis, and the United States was able then to take the rest of this
Nation. Once again, Haiti had a tremendous part of this.
Mr. GARY G. MILLER of California. Madam Speaker, I continue to
reserve the balance of my time.
Mr. MEEKS of New York. I yield 2 minutes to the Chair of the
subcommittee for the Western Hemisphere, the gentleman from New York,
the Honorable Eliot Engel.
Mr. ENGEL. I thank my good friend and fellow New Yorker for yielding
to me. I want to commend him for the work he has done.
[[Page H1294]]
I want to commend my friend and colleague, the gentlewoman from
California (Ms. Waters) for this bill.
Madam Speaker, like all of my colleagues, I rise in strong support of
H.R. 4573, which pushes for the cancellation of debts owed by Haiti to
multilateral financial institutions.
I am the chairman of the Western Hemisphere Subcommittee, and I also
have a large Haitian population in my district in Spring Valley, New
York.
I am honored to say that, last Friday, I traveled to Haiti. You can
see the devastation in the newspapers; you can look at it on
television, but until you are there in person, you cannot imagine how
horrible it is.
The other things you see are thousands upon thousands upon thousands
upon thousands of people in the streets with nothing to do and with no
place to go--with no place to go to work and with no place to call
home. There are rows of tents and shacks and of things put up for
people to seek shelter. There are people just in the streets, and they
are friendly towards the United States. We have a special obligation to
help the people of Haiti.
We met President Preval in Port-au-Prince last Friday. Today, I had
the honor and pleasure of meeting him again twice--once at the White
House with President Obama and then, after that meeting, at a private
meeting with Members of Congress. I will tell everyone what I told him
and what all of my colleagues are saying:
We must help Haiti. We have a responsibility to help Haiti. It is
clear that Haiti faces a very long road of recovery from the impact of
the earthquake, and this bill will allow the Government of Haiti to
focus its efforts and attention on the present and future recovery of
the country and on the Haitian people.
We all know Haiti's early history and independence. It is tragically
marked by the onerous debts it was forced to pay by major powers,
depriving Haiti of many years of needed resources and development. We
shouldn't allow Haiti's present debts to pose similar obstacles in the
wake of this earthquake.
People say that Congress can't agree on anything and that there is no
bipartisanship here. What we are seeing now is bipartisanship at its
best. We are all working together to help the people of Haiti.
Mr. GARY G. MILLER of California. Madam Speaker, I yield myself the
balance of my time.
My daughter, Elizabeth, lived with me here in Washington for about 4
years. She was one of the directors for a group called Witness for
Peace, which is a human rights organization.
I recall very well a trip she led of a group to Haiti. She spent a
week in Haiti with individuals from the United States, looking at the
situation that the people were in and trying to come up with ways that
we could help the people of that country.
My daughter passed away about 2 years ago, and I am proud to be part
of this bill because she believed in this. She believed in the people.
She believed that there was a lot of good that the American people
could do for people in this part of the world. So I am just glad to
chair this side of the hearing tonight. I would like to do it in honor
of my daughter, if you don't mind.
I yield back the balance of my time.
{time} 1930
Mr. MEEKS of New York. Madam Speaker, I yield myself the balance of
my time.
Let me just first thank the chairman of the committee, Barney Frank,
Ranking Member Bachus, and again my ranking member on the International
Monetary Policy and Trade Subcommittee, Mr. Miller. We came together
because of the hard work and dedication that the gentlelady from
California put forward in writing this bill to make sure we did the
right thing for the people of Haiti. This is one of those times where
you are proud of being a Member of Congress, working together for the
good of human beings.
Though oftentimes we say that Haiti is poor, when I think of Haiti,
they are rich; rich in spirit, rich in human capital, rich in hope.
These are a people suffering the most unimaginable tragedy, which still
have the hope and desire of moving forward, who have overcome and
survived all of the things that Mr. Bachus and others have said today,
when you think about it, from the very beginning of their independence.
Indeed, the people of Haiti are a rich people, and we are doing the
right thing today and sending the right message to the people of Haiti,
that we will stand by you, not just for the short haul, but for the
long haul.
Madam Speaker, I am proud to be a Member of Congress and proud of my
colleagues who have worked so hard to get this bill done, and I am
proud that we are doing the right thing by the great people of Haiti.
Mr. HASTINGS of Florida. Madam Speaker, I rise today in strong
support of H.R. 4573, the Debt Relief for Earthquake Recovery in Haiti
Act.
It is almost 2 months to the date since the already struggling nation
of Haiti was rocked by a 7.0 magnitude earthquake.
Approximately 3 million people were affected and 230,000 are
estimated to have died. Those that survived are facing unimaginable
conditions, with a crumbling infrastructure that has hindered the
delivery of humanitarian aid.
Out of this destruction, however, the Haitian people have been given
the incredible opportunity to right the wrongs of the past and rebuild
their nation stronger than ever before.
Though I commend our government's generous contributions of
humanitarian assistance and that from foreign nations, Haiti cannot be
self-sufficient and its recovery cannot be sustainable if a substantial
amount of its resources must go to paying debts that were amounted out
of desperation or by repressive, irresponsible regimes.
Despite previous debt relief, Haiti still owes a total of $709
million in debts to multilateral financial institutions. Meanwhile, the
IDB has estimated earthquake damages to total nearly $14 billion.
How can we in good conscience expect Haiti to send money to foreign
governments and international financial institutions when there are
people sleeping in the streets, children going hungry, and schools and
hospitals reduced to rubble?
I have long fought for the people of Haiti, both on the island and in
our own Nation. On this issue in particular, last Congress, I offered
an amendment which passed the House of Representatives unanimously that
put Congress on record encouraging the expedited cancellation of
Haiti's international debt.
At a time of extreme instability and crisis, Congress and the United
States government must do all within our power to help ensure a long-
term sustainable recovery for Haiti.
I applaud Congresswoman Waters for her long-standing commitment to
debt relief for Haiti and for other deserving nations and urge my
colleagues to support this bill.
Mr. CONYERS. Madam Speaker, I rise in support of H.R. 4573. This
legislation would direct the Secretary of the Treasury to instruct the
United States Executive Directors at the International Monetary Fund,
the World Bank, the Inter-American Development Bank to immediately
cancel Haiti's debts and urge donors to disburse grants. While Haiti is
rebuilding, we should allow them to turn a new leaf and not be burdened
by overwhelming debt.
Last month I visited Haiti and witnessed firsthand the destruction
caused by the massive earthquake of January 12, 2010. It is estimated
by the Haitian government that well over 200,000 Haitians have been
killed and 3 million have been affected by the natural disaster. It is
imperative that this body help its neighbor in its time of need and
make a significant long-term reconstruction commitment.
Haiti has had a long history of multilateral institutions
distributing aid in the form of loans. At its peak, Haiti had a total
external debt of $1.8 billion. In recent years the United States has
advocated debt forgiveness and the international community recently
responded last summer by forgiving $1.2 billion in debt to multilateral
institutions.
I strongly support the legislation, which rightly argues that future
aid to Haiti should be in the form of grants instead of loans. This
must be kept in mind at the Haiti donor conference scheduled for later
this month at the United Nations.
Madam Speaker, I am heartened by the public and private support given
to the victims by millions of our generous fellow Americans. I also
commend President Obama's unwavering commitment to alleviate the
suffering.
Passing today's legislation would help free our struggling neighbor
from the shackles of debt and offer a glimmer of hope during this time
of need.
Mr. JOHNSON of Georgia. Madam Speaker, the earthquake on January 12,
2010, was the worst disaster to afflict Haiti in over two centuries.
According to recent estimates, the earthquake has killed 230,000 people
and displaced another 1.3 million.
Haiti is the poorest country in the Western Hemisphere, with a long
history of exploitation at the hands of world powers. Now, with severe
damage to roads, ports, and hospitals,
[[Page H1295]]
and a desperate need for clean water, food, shelter, and basic
sanitation, Haiti faces reconstruction burdens that may exceed $14
billion. With such expenses in the future, Haiti is in no position to
repay the debts it owes wealthy international creditors.
Madam Speaker, with that in mind I urge my colleagues to support H.R.
4573, legislation I cosponsored that would promote debt relief for our
Haitian brothers and sisters.
The bill urges the Secretary of the Treasury to instruct the United
States executive directors at the International Monetary Fund, IMF, the
World Bank, the Inter-American Development Bank, and other multilateral
development institutions to use the ``voice, vote, and influence of the
United States'' to cancel immediately and completely all debt owed by
Haiti to such institutions; suspend Haiti's debt service payments to
these institutions until the debts are canceled completely; and provide
additional assistance from these institutions to Haiti through grants
so that Haiti does not accumulate additional debt.
Despite significant debt relief last summer, Haiti owes a total of
$828 million in debt to multilateral financial institutions, including
$447 million to the Inter-American Development Bank, $284 million to
the IMF, $39 million to the World Bank, and $58 million to the
International Fund for Agricultural Development. Haiti also owes about
$400 million to other individual countries.
Madam Speaker, it is abundantly clear that extraordinary
circumstances render impossible Haiti's timely repayment of this debt.
Furthermore, our humanity should compel us to extend a compassionate
hand to our neighbors in need.
I urge my colleagues to support this bill.
Ms. ROS-LEHTINEN. Madam Speaker, I am proud to be an original
cosponsor of H.R. 4573.
As my colleagues have explained, this bill calls on the U.S.
Secretary of the Treasury to take certain measures to enable Haiti's
debt relief and to provide additional assistance to Haiti from
multilateral development institutions in the form of grants.
The United States cancelled all of Haiti's outstanding debt to the
U.S. in September of last year.
Similarly, Haiti has already received hundreds of millions of dollars
in debt relief from the World Bank and Inter-American Development Bank,
IDB.
However, it still retains significant debt to various bilateral
donors, the IMF, and the IDB.
By passing this measure, we can help to minimize the enormous fiscal
pressures facing the Government of Haiti in the aftermath of its tragic
earthquake so that its limited resources may be used for more immediate
priorities.
Also, by encouraging the use of grants versus loans, Haiti will have
the opportunity to take advantage of certain resources from these
institutions without increasing its future financial burdens.
This bill will help prevent Haiti from getting in over its head at a
time when every penny counts.
It also recognizes the important role that other bilateral donors
play in the long-term recovery efforts of Haiti.
By calling on other bilateral, multilateral and private creditors to
provide debt cancellation to Haiti, H.R. 4573 underscores the concept
of shared responsibility.
An integrated approach based on a coordinated and transparent
distribution of responsibilities will prove essential to a successful
response to Haiti's catastrophic disaster.
I thank Congresswoman Waters for introducing this important measure.
Mr. MEEKS of New York. I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from New York (Mr. Meeks) that the House suspend the rules
and pass the bill, H.R. 4573, as amended.
The question was taken; and (two-thirds being in the affirmative) the
rules were suspended and the bill, as amended, was passed.
The title was amended so as to read: ``A bill to urge the Secretary
of the Treasury to instruct the United States Executive Directors at
the International Monetary Fund, the World Bank, the Inter-American
Development Bank, and other multilateral development institutions to
use the voice, vote, and influence of the United States to cancel
immediately and completely Haiti's debts to such institutions, and for
other purposes.''.
A motion to reconsider was laid on the table.
____________________