$1.2 billion in debts canceled to help Haiti
by Catherine LaineJuly 1st, 2009
Jonathan Katz (AP) via Washington Post
Three international organizations canceled $1.2 billion of Haiti’s debt Tuesday, freeing up millions of dollars each year for the deeply impoverished Caribbean nation that is beset by humanitarian crises.
The World Bank and the International Monetary Fund said their boards decided this week to forgive Haiti’s obligations to the two organizations, a move that triggered previously announced debt relief from the Inter-American Development Bank.
The actions erased nearly two-thirds of Haiti’s outstanding debt. As of April, Haiti owned more than $1.9 billion, according to the Washington-based Center for Economic and Policy Research.
September 12th, 2009 at 5:05 pm
If only this was repeated elsewhere around the world.