CaribWorldNews, LONDON, England, Thurs. July 9, 2009: Millions more of Haiti`s debt has been written off, this time by The Paris Club of creditor nations.
The debt write-off for Haiti comes on the heels of a debt cancellation by Canada, the World Bank and the International Monetary Fund.
Wednesday`s debt write-off totaled around $63 million.
The Paris Club said in a statement that members had reached bilateral agreements with Haiti to cancel an additional $152 million of debt, and that this represents all remaining debt Haiti owes its members.
The statement said the creditors welcome `Haiti`s determination to implement a comprehensive poverty reduction strategy and an ambitious economic program providing the basis for sustainable economic growth in the context of a difficult global economic environment.`
The Paris Club, which has 19 permanent members, is an informal group of creditor governments from major industrialized countries which negotiates debt restructuring with debtor countries.