G7 Nations Pledge To Cancel Debts With Quake-hit Haiti
"The world's leading industrialised nations have pledged to write off the debts that Haiti owes them, following a devastating earthquake last month. "G7 will cancel all Haiti bilateral debt," Canadian Finance Minister Jim Flaherty said at a G7 summit in Canada. The G7 group also includes the US, UK, France, Germany, Italy and Japan. One million people need help in Haiti, the poorest nation in the Americas, after the quake that killed more than 200,000 people, officials say. The G7 has been under pressure since the 12 January quake to help Haiti recover by cancelling the money owed to it, the BBC's Nick Davis in Port-au-Prince says".
Haiti's debt problems began when they gained independence from the French. The French demanded compensation for the loss of a slave colony, landed ruling classes felt hard-done by at the loss of their estates and slaves and wanted financial compensation. To this day Haiti has been snowed under by this debt and subsequent ruthless policies from the IMF and Western nations. Imagine someone stealing your wallet and after managing to reclaim your wallet from the thief imagine the thief demanding compensation for the loss of the contents of your wallet.
"The world's leading industrialised nations have pledged to write off the debts that Haiti owes them, following a devastating earthquake last month. "G7 will cancel all Haiti bilateral debt," Canadian Finance Minister Jim Flaherty said at a G7 summit in Canada. The G7 group also includes the US, UK, France, Germany, Italy and Japan. One million people need help in Haiti, the poorest nation in the Americas, after the quake that killed more than 200,000 people, officials say. The G7 has been under pressure since the 12 January quake to help Haiti recover by cancelling the money owed to it, the BBC's Nick Davis in Port-au-Prince says".
Haiti's debt problems began when they gained independence from the French. The French demanded compensation for the loss of a slave colony, landed ruling classes felt hard-done by at the loss of their estates and slaves and wanted financial compensation. To this day Haiti has been snowed under by this debt and subsequent ruthless policies from the IMF and Western nations. Imagine someone stealing your wallet and after managing to reclaim your wallet from the thief imagine the thief demanding compensation for the loss of the contents of your wallet.
Last edited by Braddock (2010-02-06 15:07:37)
