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Debt Relief – Insolvency – Bankruptcy Information » Debt Relief » Haiti owes $891 billion in debt.

Haiti owes $891 billion in debt.

The state of play with debt cancellation: Haiti owes $891 billion in debt. The The International Monetary Fund (IMF) has said: “The most important thing is that the The International Monetary Fund (IMF) is now working with all donors to try to delete all the Haitian debt, including our new loan. If we succeed – and I’m sure we will succeed – even this loan will turn out to be finally a grant, because all the debt will have been deleted.” The Inter-American Development Bank (IDB) is expected to approve $128 of grants to Haiti but is still Haiti’s biggest creditor, with $441million owed to it. It has said that its “Board of Governors could consider the possibility of providing further debt relief to Haiti”, but as the Bank now accepts that Haiti should receive grants rather than loans, there seems no justification for maintaining this outstanding debt. The World Bank has announced $100 million in grants to Haiti and said it will waive payments for five years on the $38m owed to it and is “working to find a way forward to cancel the remaining debt.”

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One Response to "Haiti owes $891 billion in debt."

  1. wpaul004 says:
    ???? i think you’re over-exaggerating or maybe you mean 891 million! But yes, this is the problem the world is facing, so sad´╗┐ :(

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