S.2166 - Federal Government - A bill to provide for greater responsibility in lending and expanded cancellation of debts owed to the United States and the international financial institutions by low-income countries, and for other purposes.

Jubilee Act for Responsible Lending and Expanded Debt Cancellation of 2007 - Amends the International Financial Institutions Act to direct the Secretary of the Treasury, within the Paris Club of Official Creditors, the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (World Bank), and other international financial institutions, to: (1) provide for debt cancellation of eligible low-income countries (as defined by this Act) to such institutions and to the United States; (2) provide for establishment of frameworks for creditor transparency and responsible lending; and (3) provide that such debt cancellation is not conditioned on harmful economic or environmental conditions.

Directs the Government Accountability Office (GAO) to audit the debt portfolios of previous governments in certain countries, including South Africa and the Democratic Republic of Congo.