US Treasury calls for full cancellation of Haiti debt
Big news. The U.S. Treasury Department just announced their intent to work with partners around the world to forgive Haiti’s debt in full. They also voiced their support that aid to Haiti come in the form of grants, not loans.
As you know, ONE has repeatedly pushed for these principles, including a massive campaign that as of now has received over 200,000 signatures. We will continue to push world leaders to cancel Haiti’s debt, including a petition delivery at the G7 finance ministers meeting in Iqaluit, Canada tomorrow.
This morning’s announcement from the U.S. Treasury is a tremendous step forward to giving Haiti a real chance to recover from last month’s devastating earthquake. This momentum would not have been possible without ONE members. Thank you for all your hard work.
Here’s the U.S. Treasury Department’s statement in full:
SECRETARY GEITHNER VOICES SUPPORT FOR INTERNATIONAL DEBT RELIEF FOR HAITI, FINANCING OF RECOVERY THROUGH GRANTS
WASHINGTON – The U.S. Department of the Treasury today announced the United States will work with its partners around the world to relieve all debts owed by Haiti to international institutions and to ensure grant financing to support Haiti’s reconstruction and recovery from the devastating earthquake in January.
“The earthquake in Haiti was a catastrophic setback to the Haitian people who are now facing tremendous emergency humanitarian and reconstruction needs, and meeting Haiti’s financing needs will require a massive multilateral effort,” said Treasury Secretary Tim Geithner. “Today, we are voicing our support for what Haiti needs and deserves – comprehensive multilateral debt relief.”
Secretary Geithner also welcomed International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn’s call to provide full relief for Haiti’s outstanding IMF debt, including the $102 million emergency loan approved on January 27, 2010.
“We are committed to working quickly and closely with these institutions in a way that provides immediate grant assistance to help the Haitian people recover and rebuild,” Secretary Geithner continued. “I very much welcome the initiative taken on this issue by leaders in Congress, the IMF, and the MDBs and look forward to working with them to provide the critical support Haiti needs for recovery as well as to discussing this issue with my G-7 colleagues this weekend.”
Treasury announced that the U.S. intends to seek a commitment with other donors for the relief of Haiti’s debt to the Inter-American Development Bank (IDB), the International Fund for Agricultural Development (IFAD) and the International Development Association (IDA) in a manner that provides direct and immediate grant support to Haiti.
In September 2009, the U.S. concluded an agreement with Haiti that eliminated 100 percent of the Haitian Government’s outstanding debt to the U.S. This action was taken following Haiti’s successful completion of the Heavily Indebted Poor Country (HIPC) Initiative process in June 2009.
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06/02/2010 at 8:02 pm
Estimados miembros de ONE, es una alegria saber que El Tesorero del Gobierno de Estados Unidos de America, ha confirmado publicamente a traves de sus declaraciones a los medios, el deseo expresado oportumanente por el Presidente Obama.-
Demas esta decir que Haiti, no solo es uno de los paises en estado pauperrimo, de America, sino del mundo.- Es el deseo de todos los que nos hemos condolido con esta tragedia, con el pueblo haitiano, que sean liberados de una deuda injusta, que como habitantes de Haiti, no contrageron, ni usufructuaron. Ademas gran parte de esa deuda que les reclaman, solo se componen de intereses que solo demuestran la voracidad de sus acreedores.
Es tiempo de encontrarnos unos con otros, ricos y pobres, creyentes y no creyentes, desarrolados y no desarrollados, educados e incultos, esperanzados y no esperanzados, encontrarnos frente a frente y reconocer que la pobreza y necesidad es el resultado de nuestra avaricia e impiedad con nuestros congeneres.- Como raza, como seres humanos, hemos atacado y esclavizado a nuestros congeneres y al planeta mismo, avanzando hacia nuestra destrucción.-
Es genial, poder juntarnos a traves de organizaciones como ONE, y aportar nuestro granito de arena en la lucha por los derechos de cada ser humano que habita sobre esta tierra y por el medio ambiente.-
Queremos un mundo mejor y lo queremos hoy, y estamos dispuestos a lograrlo a traves del respeto y del amor.-
Paz y Generosidad para Haiti!, Paz y Generosidad para el mundo! Paz y Generosidad para todos los hombres y mujeres que habitan esta tierra.-
07/02/2010 at 2:42 pm
Ahora esperamos que el Fondo Internacional de Monedas FIM y otros siguen este ejemplo. Y que el apoyo para Haitzi llega realmente al mos manos de los pobres allá, los que han perdido todo y siempre fueron pobres, y no a manos de corruptos y ya ricos.
Now we hope that the IMF and other will follow this example. And that the support for Haiti really reaches the poor ones, the ones who have lost everything and always have been poor, and does not go to corrupted and already rich people there.
08/02/2010 at 5:27 pm
i am very very happy.
i don’y speack english but i love you
patrizia
08/02/2010 at 5:47 pm
Wow – great news!
08/02/2010 at 9:27 pm
Debt cancellation for Haiti is a victory for entire humanity. This will not only provide a relief for focused reconstruction but sustained development. This effort must be linked to the World poorest ie Africa.
09/02/2010 at 6:42 am
Well, if we start with Haiti …. there are so many countries where the main part of the people is extremely poor: many african countries, latinamerican countries like Bolivia, Peru or parts of Brazil, asian countries like Myanmar and Laos….In all of these countries the debt should be dropped.
18/02/2010 at 1:18 pm
WOW, Grants, not Loans, this is unlike the US, but a step forward nevertheless, just hope its genuine and from the heart and awareness and nothing sinister going on behind it. But great news that made my day, and hopefully the first step to a sustainable world.