Ekvilib

NGOs demand cancellation of Haiti's debt

Ekvilib Institute and campaigners from across Europe joined with Haitian campaign groups in condemning the failure of Western leaders to cancel Haiti’s debts, and the International Monetary Fund’s extension of new loans to Haiti. As G7 leaders meet in the far North of Canada, campaigners released a statement demanding the immediate and unconditional cancellation of Haiti’s entire debt.

The European Network on Debt and Development released a briefing outlining Haiti’s debts which shows that Haiti owes as much now as was cancelled by the international community only 9 months ago: $1.2 billion.  It also shows that in coming years 9 years the IMF will expect Haiti to repay at least $104 million – and over $500 million to all creditors combined.

Camille Chalmers of the Haitian Advocacy Platform for Development (PAPDA) said:

"The debts imposed by the IFIs and the major world powers have   contributed to destroying our country. It's the equivalent of an earthquake which has lasted from late in 1983 when we signed the first  standby agreement with the IMF. These loans have caused earthquakes, aftershocks and tremors which have undermined our institutions and our capacity to respond to a crisis of   this magnitude."

Civil Society Statement

EURODAD report: Haiti’s debt burden- the real story 

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