Don't miss

Replay


LATEST SHOWS

INSIDE THE AMERICAS

Race to the White House: Hillary Clinton's popularity problem

Read more

THE INTERVIEW

HRW chief Kenneth Roth: 'Putin cares about European public opinion'

Read more

BUSINESS DAILY

Facebook profits soar 186% as user numbers surge

Read more

IN THE PAPERS

Turkey: 'Once upon a time, there was a democracy'

Read more

IN THE PAPERS

Priest attack: 'After the shock, now come the questions'

Read more

EYE ON AFRICA

DR Congo: Thousands welcome opposition leader Tshisekedi after two-year absence

Read more

MEDIAWATCH

FRANCE 24 amongst French media to stop publishing jihadists' photos

Read more

THE DEBATE

Church attack aftermath - France's political fallout: Who stands to benefit?

Read more

MIDDLE EAST MATTERS

Safety at any cost in Israel

Read more

Business

G7 nations vow to cancel Haiti debt

Text by News Wires

Latest update : 2010-02-07

The world's seven most industrialized countries vowed Saturday they would each cancel their nation's remaining bilateral debt with quake-hit Haiti, Canadian Finance Minister Jim Flaherty said.

AFP - The world's seven most industrialized countries vowed Saturday they would each cancel their nation's remaining bilateral debt with quake-hit Haiti, Canadian Finance Minister Jim Flaherty said.

The "G7 will cancel all Haiti bilateral debt," he told a press conference after two days of G7 talks in northern Canada.

Haiti's debt to the seven nations -- Britain, Canada, France, Germany, Italy, Japan, and the United States -- is already relatively small after being reduced by past relief efforts.

Haiti's foreign debt however remains at about 890 million dollars, of which some 41 percent is owed to the InterAmerican Development Bank and a further 27 percent to the World Bank.

The Paris Club in June agreed to cancel Haiti's total remaining debt to its members of about 214 million dollars.

France had agreed to gradually wipe out Haiti's debt, but after the devastating January 12 earthquake it cancelled all of the remaining 58 million euros that Haiti owed.

Date created : 2010-02-06

COMMENT(S)