Institute for Justice and Democracy in Haiti

Come Hear Mario Joseph and IJDH’s Steve Forester Speak at Tap Tap in Miami

Mario Joseph, Av., Managing Attorney at the Bureau des Avocats Internationaux, and Steve Forester, IJDH’s Immigration Advocacy Coordinator, will speak tonight at a film screening at Tap Tap. Tap Tap will screen the PBS documentary The Quake on Tuesday, June 1, and Wednesday, June 2 at 7pm, 819 Fifth St, Miami Beach, Florida.

Haiti debt payment suspended

By Shih Hsiu-chuan and Mo Yan-chih, Staff Reporters Taipei Times REPRIEVE: A minister said Taiwan could not fully cancel Haiti’s debts given the nature of the loans, offering instead to take over its interest payments for five years Minister of Foreign Affairs Timothy Yang (楊進添) yesterday unveiled Taiwan’s debt reduction plan for Haiti, with the Taiwanese government shouldering interest payments to local banks for five years as the Caribbean country struggles to recover from a devastating earthquake in January. Yang told lawmakers in March that Haiti owed Taiwan, one of its major lenders, US$88 million. Haiti’s total foreign debt was estimated at US$1 billion before the fatal quake. As the debt-ridden country tries to recover from the disaster, some of its major lenders — including Venezuela and the G7 (Canada, the US, the UK, France, Germany, Italy and Japan) — agreed […]

World Bank cancels remaining Haiti debt

Reuters The World Bank said on Friday it has written off $36 million of Haiti’s remaining debts to the lender with the help of contributions from 13 countries. With the decision, Haiti has nothing further to pay to the World Bank, the institution said. The debt was owed to the World Bank’s fund for its poorest borrowers, the International Development Association, or IDA. Canceling the debt will free up funds — which would have been spent on servicing the IDA debt — for rebuilding after Haiti’s devastating Jan. 12 earthquake. The Bank said funding to write off the debt was received from Belgium, Canada, Finland, France, Germany, Ireland, Italy, Japan, the Netherlands, Norway, Spain, Sweden and Switzerland. “Relieving Haiti’s remaining debt is part of our effort to pursue every avenue to help Haiti’s reconstruction efforts,” World Bank President Robert Zoellick […]

President Obama Signs Debt Relief Bill for Haiti

AFRO Staff President Obama on April 26 signed into law a bill calling for the United States to take the lead in forgiving debt owed to international lenders by earthquake-ravaged Haiti. The bill urges major multinational institutions to cancel all debt owed to them by Haiti and recommends that all aid to the country for the next five years be provided in the form of grants rather than loans. “The President’s signature on this bill is further indication of the United States’ support for the people of Haiti,” Congresswoman Maxine Waters (D-Calif.), who sponsored the House version of the bill, said in a statement. “I authored this legislation because Haiti’s immense debt burden would have severely impeded the country’s recovery efforts.” The bill was approved in the House on April 14 and passed the Senate earlier in April. Under the […]

President Obama Signs Haiti Debt Relief Bill Authored by Congresswoman Waters into Law

Washington, DC – The Debt Relief for Earthquake Recovery in Haiti Act (H.R. 4573) authored by Congresswoman Maxine Waters (D-CA) was signed into law by President Barack Obama Monday at the White House. The bill, which would help relieve Haiti of hundreds of millions of dollars in debt owed to multilateral institutions, recently passed both chambers of Congress, and is now classified as Public Law No: 111-158. “The President’s signature on this bill is further indication of the United States’ support for the people of Haiti,” said Congresswoman Waters. “I authored this legislation because Haiti’s immense debt burden would have severely impeded the country’s recovery efforts. Our government will work closely with the multilateral development institutions to ensure that they cancel all of Haiti’s debts owed to them, and that future aid over the next few years is delivered in […]

UN Agency Forgives Debt Owed by Disaster-Hit Haiti

The United Nations agency tasked with reducing rural poverty announced today that it has approved a debt-relief package for disaster-stricken Haiti in a bid to help the country get back on its feet after the calamitous earthquake that struck the Caribbean island nation in January. “The agreement provides the basis for permanent debt forgiveness of Haiti’s debt burden to our organization,” said Kanayo Nwanze, President of the International Fund for Agricultural Development (IFAD). The net present value of Haiti’s debt to IFAD is $50.7 million. Under the agreement to write off the debt, approved this week by the fund’s executive board, IFAD will contribute up to 30 per cent of the debt relief requirement, with Member States needing to contribute the remaining 70 per cent. “Without this type of relief, Haiti would have been hard pressed to repay its outstanding […]

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