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HR 3191 109th Congress House Foreign Trade and International Finance Africa (Sub-Saharan) Authorization Congress Congress and foreign policy Congressional reporting requirements Debt agreements Debt relief Developing countries Development credit institutions Economics and Public Finance International Affairs International monetary system Negotiations

Multilateral Debt Relief Act of 2005

Introduced: June 30, 2005 Introduced by: Smith, Christopher H. Republican · New Jersey See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2005
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Jun 30, 2005
Referred to the Committee on Financial Services, and in addition to the Committee on International Relations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jun 30, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Multilateral Debt Relief Act of 2005 - Authorizes: (1) the Secretary of the Treasury to instruct the U.S. executive director of each international financial institution (the World Bank, the International Monetary Fund, the Inter-American Development Bank, the African Development Bank, and the African Development Fund) to reach an agreement among the shareholders to permanently cancel 100 percent of the debts owed to each such institution by an eligible country (as defined by this Act); and (2) appropriations for the U.S. contribution to such agreement if other members of the international financial institutions contribute funds for such purpose.

Expresses the sense of Congress that the Secretary should pursue additional bilateral and multilateral debt relief for each country eligible for International Development Association grants.

Amends the International Development Association Act to authorize, and authorize appropriations for, the U.S. Governor of the Association to contribute necessary sums to the fourteenth replenishment of the Association.

Amends the African Development Fund Act to authorize, and authorize appropriations for, The U.S. Governor of the Fund to contribute necessary sums to the tenth replenishment of the Fund.

Authorizes appropriations to fulfill U.S. commitments to the Enhanced HIPC Initiative (as defined by this Act).

What's happening now July 29, 2005

Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.

 Committees of jurisdiction 3
 Cosponsors 2
All 2 Democratic 2