Expressing the sense of Congress that the total debt owed by 31 of the 40 Heavily Indebted Poor Countries (HIPC) to the United States should be forgiven.

Expresses the sense of the Congress that: (1) the total debt owed by 31 of the 40 Heavily Indebted Poor Countries (HIPC) to the United States should be forgiven; (2) amounts that may otherwise be appropriated for funding to the International Monetary Fund should instead be used to pay for such debt relief; and (3) amounts that may be appropriated to assist HIPC pay off their remaining debt should be authorized in the form of grants and not loans.