Debt relief is aimed at spurring rebuilding efforts in Port-au-Prince and elsewhere after Haiti’s devastating quake.
Call it pity or call it sensible politics, the G-7 nations have together pledged to cancel $1.2 billion in debt that Haiti owes them, something Global South activists have been requesting for all developing countries—not just those hit by horrible earthquakes. —JCL
The world’s leading industrialised nations have pledged to write off the debts that Haiti owes them, following a devastating earthquake last month.
Canada’s finance minister announced at a summit in Iqaluit, northern Canada, that Group of Seven countries planned to cancel Haiti’s bilateral debts.
Jim Flaherty said he would encourage international lenders to do the same.
Some $1.2bn (£800m) of Haiti’s debts to countries and international lending bodies has already been cancelled.