By Nergui Manalsuren
UNITED NATIONS, Oct 31 (IPS) – On a recent visit to the hurricane-ravaged island of Haiti, World Bank President Robert Zoellick declared that 500 million dollars of Haiti’s 1.7-billion-dollar foreign debt had been cancelled, and the rest would be soon be written off as well.
However, Haitian and international civil society groups say that his comments were misleading. None of the debt has actually been forgiven yet, and the International Monetary Fund (IMF) and bank just this month delayed Haiti’s entrance into the Heavily Indebted Poor Countries initiative (HIPC) — a condition for debt relief — by six months.
Continue reading HAITI: Activists Urge World Bank to Erase Crippling Debt