Institute for Justice and Democracy in Haiti

Haiti’s Debt

by Joe Emersberger and Jeb Sprague Despite being the most impoverished country in the Western Hemisphere, Haiti lags behind many countries in the Americas in obtaining debt relief through a program run by the International Monetary Fund (IMF) and the World Bank. A hard-hitting paper published in December by the Washington D.C.-based Center for Economic and Policy Research (CEPR) argues that the IMF and World Bank should disregard the rules of their HIPC (Heavily Indebted Poor Country) program: “Haiti’s debt should be cancelled without further delay,” wrote Mark Weisbrot and Luis Sandoval, authors of the study entitled “Debt Cancellation for Haiti: No Reason for Further Delays.” If Haiti were to comply with the conditions of the HIPC program by September 2008, then about $1.2 billion of its $1.5 billion external foreign debt would be canceled. �The study explains why it […]

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