Institute for Justice and Democracy in Haiti

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 […]

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