I am so pleased this is finally happening. Haiti has been burdened by its national debt for a long time and this will help speed their recovery from the massive earthquake – assuming everyone keeps their word:
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.
“We are committed in the G7 to the forgiveness of debt, in fact all bilateral debt has been forgiven by G7 countries vis-a-vis Haiti,” Mr Flaherty said at the end of the two day gathering of finance ministers.
What about my debt?
I’m poor and can’t pay.
Do I need to have a personal catastrophe to go bankrupt or do I get to bleed out, over maybe a couple of decades?
This is a fabulous idea, long overdue. Haiti was forced to pay France for the value it lost when the slaves went free———there’s a criminal bill to have paid.
Our church, and many others, have been after this debt forgiveness as part of the Jubilee Year–didn’t get it then, but the idea is still one of the best parts of how to practice Christianity.
To the G7: About Damn Time.