The US House of Representatives approves "The Ukraine Comprehensive Debt Payment Relief Act"

Today, Chairwoman Maxine Waters secured passage by the U.S. House of Representatives of The Ukraine Comprehensive Debt Payment Relief Act (H.R. 7081), a bill by Representative Jesus “Chuy” Garcia (D-IL). This bill would direct the Department of Treasury to use the voice, vote, and influence of the U.S. at the International Monetary Fund (IMF), the World Bank and other relevant multilateral development banks to advocate for the immediate suspension of all debt service payments owed to these institutions by Ukraine. It also directs the Secretary of Treasury, in coordination with the Secretary of State, to commence immediate efforts with official bilateral and commercial creditors to pursue similar debt payment relief for Ukraine. The measure also instructs the United States to support the provision of concessional assistance for Ukraine from the international financial institutions, including support for refugees from Ukraine, including refugees of African descent, and for countries receiving refugees from Ukraine.

The bill passed by a vote of 362-56.

Source: https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409404