IMF cancels Haiti's debts; offers loan

The International Monetary Fund has canceled Haiti's $268 million debts and offers a $60 million loan to the earthquake-devastated nation:

IMF cancels Haiti's $268m debts and agrees $60m loan


The International Monetary Fund (IMF) has agreed to cancel Haiti's $268m (£176m) debt and lend the impoverished Caribbean nation a further $60m.
From the BBCNews online

"Donors must start delivering on their promises to Haiti quickly so reconstruction can be accelerated, living standards quickly improved, and social tensions soothed," IMF Managing Director Dominique Strauss-Kahn said on Wednesday.

The new three-year loan from the IMF is intended to boost Haiti's international reserves and help the central bank manage potential swings in the value of the local currency that could arise from large aid flows going into the country.

Posted by Peter Carey on July 22, 2010 12:30 PM | |
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