Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

South African court rules Jacob Zuma should face corruption charges

Read more

MEDIAWATCH

A Royal Challenge from the Obamas

Read more

THE WORLD THIS WEEK

Lights go out in Venezuela and Saudi Arabia goes green (part 1)

Read more

THE WORLD THIS WEEK

Stalemate in Spain and Protests in Paris (part 2)

Read more

FRANCE IN FOCUS

Cinema, a French love affair

Read more

#TECH 24

'VR' immersive journalism

Read more

REVISITED

Nepal revisited, one year after the deadly earthquake

Read more

YOU ARE HERE

France's River Charente, a rich ecosystem

Read more

FOCUS

Libya: Who's running the country?

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)