Progressive and left of Democratic Party demand Ukraine's debt relief in the US Congress
Progressives and leftists in the Democratic Party have submitted to the US Congress a bill H.R. 7081 - Ukraine Comprehensive Debt Payment Relief Act of 2022.
As stated, “H.R. 7081 requires the United States Treasury Department to advocate for [Ukraine's] debt relief, concessional financial assistance, and humanitarian assistance to Ukraine in international financial institutions such as the International Monetary Fund and the World Bank. It will also require the Treasury to report back to Congress. "
In particular, the Treasury should instruct US representatives in international financial institutions to ensure that such institutions (1) immediately suspend all debt service payments that Ukraine owes to the institution and (2) provide Ukraine with concessional financial assistance.
I'm on the House floor to present my bill, the Ukraine Comprehensive Debt Payment Relief Act. @Ukraine needs its scarce resources to provide for its people, and defend itself against Putin's invasion. pic.twitter.com/IcILs8iW7q
— Congressman Chuy García (@RepChuyGarcia) May 10, 2022
Russia’s war in #Ukraine is not just criminal; it is a threat to democracy.
— Carolyn B. Maloney (@RepMaloney) May 10, 2022
The U.S. and its allies must continue to support Ukraine’s means to defend themselves. That's why I'm voting for @RepChuyGarcia's legislation to suspend Ukraine’s burdensome debt obligations. https://t.co/CbITvDuFHS
.@RepChuyGarcia, thanks for making it clear how unjust it is for the @IMFNews to impose millions of dollars in additional surcharges on indebted countries, especially those in crisis like Ukraine. #StopIMFSurcharges pic.twitter.com/F9rIgW9mdE
— CEPR (@ceprdc) May 10, 2022
Today I spoke on the House floor in support of my bill H.R. 7081 the Ukraine Comprehensive Debt Repayment Relief Act. Instead of paying debts to institutions like the IMF, @Ukraine needs its money to defend itself, support its people, and eventually rebuild. pic.twitter.com/PdDsbRLEKH
— Congressman Chuy García (@RepChuyGarcia) May 10, 2022
House Democrats WILL NOT stand by and allow Putin to bankrupt Ukraine into surrender.
— House Democrats (@HouseDemocrats) May 11, 2022
We passed legislation to provide relief to the crushing debt facing Ukraine and to block Putin’s access to the financial resources that fuel his invasion.