The US Congress proposes to write off Ukraine's external debt

The Ukraine Comprehensive Debt Payment Relief Act of 2022 passed a vote in the House, Rep. Chui Garcia tweeted.

This gives Ukraine urgently needed relief from debt payments to international financial institutions such as the IMF and the World Bank. I urge the Senate to pass the bill as a matter of urgency,” he said.

The initiators of the document were the progressives and the left of the Democratic Party.

The document stated that “HR 7081 requires the [U.S.] Department of the Treasury to advocate for [Ukraine's] debt relief, concessional financial assistance, and humanitarian assistance to Ukraine at international financial institutions such as the International Monetary Fund and the World Bank. It will also require the Treasury to report to Congress on its actions."

In particular, the Treasury should order U.S. representatives to international financial institutions to advocate for such institutions to immediately suspend all debt service payments owed by Ukraine to the relevant institution and provide Ukraine with concessional financial assistance.

Earlier, the organization " Socialnyi Rukh " announced the need to write off Ukraine's debt as support.