Progress continues on cancelling Haiti’s debt

The One campaign reports that the effort to cancel Haiti's debt continues to move forward.

One notes that at the meeting of the G7 finance ministers in Iqaluit, Canada, Canadian Finance Minister James Flaherty "announced that all the G7 countries – Canada, France, Germany, Italy, Japan, the UK, and the U.S. – have agreed to support complete cancellation of Haiti’s $1 billion international debt." 

On Friday, February 5, U.S. Treasury Secretary Tim Geithner announced that "the United States will work with its partners around the world to relieve all debts owed by Haiti to international institutions and to ensure grant financing to support Haiti's reconstruction and recovery from the devastating earthquake in January."

Petitiions to cancel the debt came from One, Avaaz, Oxfam International and Jubilee USA. These and other organizations have helped make this a proud moment for the entire anti-poverty community.

The One campaign notes that "though the InterAmerican Development Bank, IMF, and World Bank have not yet canceled Haiti's debt, the G7 countries hold considerable influence over them. We hope to see the G7 follow through by using their votes when these institutions meet over the next couple of months."

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