Foreign Credit Reform Act of 2004

Foreign Credit Reform Act of 2004 - Amends Federal law to extend authorization of appropriations for the U.S. contribution to the Heavily Indebted Poor Country (HIPC) Trust Fund.

Amends the Bretton Woods Agreements Act to direct the Secretary of the Treasury to negotiate an agreement under which the International Bank for Reconstruction and Development and the International Monetary Fund shall contribute to the Global Fund to Fight AIDS, Tuberculosis and Malaria an amount equal to the amount of a country's annual debt service made to the Bank and the Fund.

Authorizes the President to waive certain Agricultural Trade Development and Assistance Act of 1954 principal and interest payments owed to the Commodity Credit Corporation by eligible debt-heavy countries for FY 2005 and 2006. Amends such Act to define "developing country" for purposes of title I assistance.