G-7 urged to cancel Haiti debt

posted on: Feb 6 2010 8:21 by Royston. Viewed 449 times.


Almost a hundred lawmakers today asked the U.S. Government to urge the finance ministers of the G-7, meeting this weekend in Canada, to permanently cancel Haiti's debt with international agencies.

In an initiative led by Republican Ileana Ros-Lehtinen and Democrat Maxine Waters, 94 members of the House of Representatives sent a letter to this effect the Treasury secretary, Tim Geith.

The letter urged "the complete cancellation of Haiti debt with multilateral financial institutions and the delivery of assistance to Haiti in the form of grants that would not accumulate additional debts.�

After the earthquake of 12 January the authorities of the International Monetary Fund (IMF), World Bank and the Inter-American Development Bank, to which Haiti owes a combined total of US$651 million, indicated that they would be willing to consider this option .

"This weekend, finance ministers of the G-7 must meet a growing consensus to cancel Haiti's debt. It is time that our leaders announced their commitment to cancel Haiti's debt once and for all," said the letter.

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