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$1.2 Billion in Haitian Debt Cancellation: A Welcome Victory July 1st, 2009
Extended Campaign to Win Relief for Haiti Finally Pays Off
The Oblate JPIC Office joins other members of the Jubilee USA Network in welcoming the news that, at last, Haiti has reached “completion point” in the Heavily Indebted Poor Countries program.
This step means the cancellation of $1.2 billion in external debt owed by the impoverished island nation to bilateral and multilateral lenders including the IMF, World Bank, and US government. The Boards of the World Bank and IMF met on June 30 to formally approve Haiti’s debt stock cancellation under HIPC and the Multilateral Debt Relief Initiative.
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