IMF, IDB, World Bank Forgive $1.2 Billion of Haiti's Debt
Jonathan Katz reported that the World Bank, IMF, and IDB canceled $1.2 billion of Haiti's debt Tuesday, freeing up millions of dollars for much needed poverty reduction programs. Needless to say, this is excellent news. Given the scope of Haiti's needs, it never made sense its citizens should have to pay $1.6 million in debt per month, most of which was acquired under dictators that they never voted for. This represents a measure of confidence in the Preval Administration, which now has a bit more economic flexibility than it had before. More info below.
