Open

Coming up

Don't miss

Replay


LATEST SHOWS

INSIDE THE AMERICAS

Uruguay: freed Guantanamo detainees try to adjust to normal life

Read more

MIDDLE EAST MATTERS

Turkey: Inside the Alevi community

Read more

FOCUS

China: A tense Christmas in Wenzhou

Read more

DEBATE

Pope's Scathing Tidings: Pontiff Blasts 'Illnesses' at Vatican's Heart (part 2)

Read more

DEBATE

Pope's Scathing Tidings: Pontiff Blasts 'Illnesses' at Vatican's Heart

Read more

WEB NEWS

Gaza children draw what their future will look like

Read more

MEDIAWATCH

Catholic cardinals get coal for Christmas from Pope Francis

Read more

IN THE PAPERS

François Hollande's Christmas wish list

Read more

MEDIAWATCH

Embedded with the Islamic State Group

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)