Obama Signs Haiti Debt Relief Bill Into Law

U.S. President Barack Obama signed into law on April 26 the legislation that calls for the cancellation of Haiti’s USD1 billion outstanding debt to international financial institutions, according to the website of U.S. Senator Chris Dodd (D-Conn.)

The Haiti Debt Relief and Earthquake Recovery Act of 2010, which was originally penned by Dodd and Sen. Richard Lugar (R-Ind.) also instructs IFIs to offer grants instead of loans to Haiti. It also urges the Obama administration to support plans to create an international trust fund for the earthquake-devastated country.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.

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