More Debt Written Off For Haiti


CaribWorldNews, LONDON, England, Thurs. July 9, 2009: Millions more of Haiti`s debt has been written off, this time by The Paris Club of creditor nations.

The debt write-off for Haiti comes on the heels of a debt cancellation by Canada, the World Bank and the International Monetary Fund.

Wednesday`s debt write-off totaled around $63 million.

The Paris Club said in a statement that members had reached bilateral agreements with Haiti to cancel an additional $152 million of debt, and that this represents all remaining debt Haiti owes its members.

The statement said the creditors welcome `Haiti`s determination to implement a comprehensive poverty reduction strategy and an ambitious economic program providing the basis for sustainable economic growth in the context of a difficult global economic environment.`

The Paris Club, which has 19 permanent members, is an informal group of creditor governments from major industrialized countries which negotiates debt restructuring with debtor countries.

Next Post

Guyanese Signed By Carolina Soccer Squad

CaribWorldNews, RALEIGH, N.C., Thurs. July 9, 2009: Guyanese soccer forward, Gregory Richardson, has been snapped up by a Carolina team. The Carolina RailHawks have signed the Guyanese international forward pending U.S. Soccer Federation approval, the club announced Wednesday. Richardson began his professional career in 2005-06, playing with Beacon and Pele […]