On Wednesday, May 11, the Financial Services Committee of the US House of Representatives passed a bill that should help Ukraine, in the conditions of the war unleashed by Russia, service and reduce external debt. In addition, this document provides for assistance in attracting financial assistance from abroad on preferential terms.

This became known from the broadcast of the meeting on C-SPAN.

This legislative initiative was supported by 362 congressmen and only 56 opposed.

The bill provides that US representatives in “every international financial institution” will demand “the immediate suspension of all debt service payments” that Ukraine has to such an organization.

The US administration should also push for “comprehensive debt relief for Ukraine” in dialogue with both commercial and sovereign creditors, including the Paris Club, an informal organization that unites the interests of creditor countries and unites the governments of 21 countries.

In addition, the bill requires representatives of the US government in international financial institutions to work on providing “preferential financial assistance” to Ukraine from these structures.

If this initiative enters into force, its duration will be 7 years.

The authors of the bill were a group of congressmen representing the US Democratic Party.

Recall, the House of Representatives of the US Congress on the evening of Tuesday, May 10, voted for the adoption of a bill to provide assistance to Ukraine through the war unleashed by the Russian Federation in the amount of almost $40 billion.

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