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United States · Bill · HR

H.R. 643 (108th)

Debt Cancellation for the New Millennium Act

referredUnited States· United States Congress· EN

Introduced

5 February 2003

Last action

27 February 2003 · Referred

Status

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

Sponsors

Maxine Waters, Rep. Leach, James A. [R-IA-1], Rep. Frank, Barney [D-MA-4], Barbara Lee, Rep. Bachus, Spencer [R-AL-6], Rep. Lantos, Tom [D-CA-11], CAROLYN MALONEY, Edward Markey, Rep. Brown, Corrine [D-FL-5], Rep. Jackson, Jesse L., Jr. [D-IL-2], Janice Schakowsky, JOHN CONYERS, Rep. Rahall, Nick J., II [D-WV-4], Rep. Hoeffel, Joseph M. [D-PA-13], Raúl Grijalva, Rep. Miller, George [D-CA-7], Rep. Rangel, Charles B. [D-NY-19], Rep. Wexler, Robert [D-FL-19], Rep. Millender-McDonald, Juanita [D-CA-37], Rep. Woolsey, Lynn C. [D-CA-6], Rep. McDermott, Jim [D-WA-7], Rep. Stark, Fortney Pete [D-CA-9], Rep. Olver, John W. [D-MA-1], Zoe Lofgren, Rep. Owens, Major R. [D-NY-12], Betty McCollum, Rep. Moore, Dennis [D-KS-3], Rep. Lampson, Nick [D-TX-22], Tammy Baldwin, Rep. Andrews, Robert E. [D-NJ-1], Rep. Carson, Julia [D-IN-7], MICHAEL CAPUANO, Eleanor Norton, Del. Christensen, Donna M. [D-VI-At Large], Bernie Sanders, Sheila Jackson Lee, LUIS GUTIERREZ, Rep. Towns, Edolphus [D-NY-11], BOBBY RUSH, Rep. Payne, Donald M. [D-NJ-10], Rep. Davis, Artur [D-AL-7], Sen. Brown, Sherrod [D-OH], JOSE SERRANO, Rep. Gonzalez, Charles A. [D-TX-20], Rep. Kucinich, Dennis J. [D-OH-10], Rep. Evans, Lane [D-IL-17], Rep. Tierney, John F. [D-MA-6]

Subjects

Healthcare, Education

Source updated

18 August 2025

Healthcare · Education

Official sourceDownload fileView documentsShare

Summary

Debt Cancellation for the New Millennium Act - Amends the International Financial Institutions Act to urge the President to commence immediately efforts within the Paris Club of Official Creditors, as well as the International Bank for Reconstruction and Development (World Bank), the International Monetary Fund (IMF), and other appropriate multilateral development institutions, to accomplish certain modifications in the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative, including requiring that: (1) the amount of debt relief provided by the IMF and the World Bank under the Enhanced HIPC Initiative for a HIPC be sufficient to completely cancel 100 percent of the HIPC's debt owed to such institutions; (2) no provision of debt relief under the Initiative be conditioned on any country's implementing a structural adjustment or stabilization program of the Poverty Reduction and Growth Facility of the IMF or any other such program operated solely or jointly by the IMF or the World Bank; (3) all HIPCs that are working in good faith to develop and implement their Poverty Reduction Strategy Papers (PRSPs) pursuant to the Initiative not be required to make service payments on their debts (ensuring that the savings from such debt relief will be invested in HIV/AIDS treatment and prevention, health care, education, and poverty reduction programs); and (4) the eligibility requirements of the Initiative be revised to make Bangladesh, Haiti, and Nigeria eligible. Directs the Secretary of the Treasury to provide, upon request, for technical assistance to HIPCs regarding compliance with the conditions for debt relief pursuant to the Initiative, including the development and implementation of their PSRPs.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 5 February 2003

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 5 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 5 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 27 February 2003

    Referred

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

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

Related records

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Sources

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