Saturday, February 6, 2010

US backs calls for international Haiti debt relief

What about America? Who's Left? A Few Ultra-Rich And The Tapped-Out Masses ~ Charity Should Begin at Home ~ By J. Speer-Williams 2-4-10 ~
http://rense.com/general89/whos.htm

Survivors at a makeshift camp in Port-au-Prince, after a devastating earthquake hit Haiti

February 6, 2010

US backs calls for international Haiti debt relief

*US backs call to wipe Haiti's debt
*Wants other countries to do the same
*Bill Clinton sorry for slow aid effort


THE United States has voiced support for international debt relief for earthquake-hit Haiti.

The Treasury Department said the United States would work with its partners around the world to relieve all debts owed by Haiti to international institutions. The department said the move was also aimed at ensuring grant financing to support Haiti's reconstruction and recovery from the January earthquake, which destroyed large parts of the capital Port-au-Prince and killed more than 200,000 people.

"The earthquake in Haiti was a catastrophic setback to the Haitian people who are now facing tremendous emergency humanitarian and reconstruction needs, and meeting Haiti's financing needs will require a massive multilateral effort," Treasury Secretary Timothy Geithner in a statement.

"Today, we are voicing our support for what Haiti needs and deserves - comprehensive multilateral debt relief," he said.

The United States intends to seek a commitment with other donors for the relief of Haiti's debt to the Inter-American Development Bank, the International Fund for Agricultural Development and the International Development Association "in a manner that provides direct and immediate grant support to Haiti," the statement said.

Mr Geithner also welcomed International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn's call to provide full relief for Haiti's outstanding IMF debt, including the $US102 million ($117.96 million) emergency loan approved in January.

"We are committed to working quickly and closely with these institutions in a way that provides immediate grant assistance to help the Haitian people recover and rebuild," he said.

Mr Geithner said he wanted to work with leaders of the US Congress, the IMF, and the multilateral development banks to provide the "critical support Haiti needs for recovery." He also looked forward to discussing the issue with his counterparts at the Group of Seven industrialised nations meeting in Iqaluit, Canada this weekend.

In September 2009, the United States concluded an agreement with Haiti that eliminated 100 per cent of the Haitian Government's outstanding debt to the US.

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