Expat Community > Haiti

whvastine
Joined 2009
Posts: 55

Canada releases Haiti of $2.3-mln debt

15 years ago

Posted: July 02, 2009, 5:11 PM by Alia McMullen
Economics, Ottawa, Trade, Economy, World, Financial Crisis
In a gesture of charity, the Canadian government has released the Republic of Haiti of its entire $2.3-million debt to Canada, Jim Flaherty, the finance minister said Thursday.

The move, a part of the Canadian Debt Initiative, brings the total debt of impoverished countries cancelled by Canada to $965-million, including debt owed by Latin American and Caribbean nations.

"Today’s announcement frees up valuable financial resources that can be better spent on Haiti’s priorities, not its liabilities," Mr. Flaherty said. "At a time of unprecedented hardship in the global economy, Canada continues to eliminate financial burdens faced by Haiti and other nations as they take the steps needed to strengthen their economies."

Haiti is the 13th country to meet the requirements of the Canadian Debt Initiative, designed to forgive $1.3-billion in debt.

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