Haiti owes £890 million, mostly to the IMF and the Inter-America development Bank. The World Bank has suspended repayments for five years, but why does the rich world need that £890 million back?
Since much of Haiti’s debts were acquired under oppressive and corrupt governments, they should be counted as ‘odious debts’ and the people should not be held responsible. Most notably, Haiti was governed by the Duvalier family for over 20 years, and around 40% of its debts are from this period. Aristide was no better, and debts incurred under these leaders are unjust and the money should never have been issued in the first place.
Haiti’s debts should be canceled immediately and without conditions, and new aid for rebuilding should be grants and not further loans. Christian Aid are petitioning the chancellor of the exchequer, Alistair Darling, to drop Haiti’s debts. To sign the petition, click here.
- To give to the DEC’s emergency appeal, click here.
