US Congress Gives Thumbs up to Haiti Debt Relief Bill

The U.S. Congress passed a bill instructing U.S. directors at international financial institutions to “use the voice, vote, and influence of the United States” to effect debt relief for Haiti.

According to The Associated Press, Haiti’s multilateral debt amounts to USD828 million: USD447 million with the Inter-American Development Bank, USD284 million to the International Monetary Fund, USD39 million to the World Bank, and USD58 million to the International Fund for Agricultural Development. The bill urges immediate and full cancellation of the quake-hit nation’s debts to these institutions and recommends that the agencies provide Haiti with grants instead of loans over the next five years. 

About the author

  • Eliza Villarino

    Eliza Villarino is an associate editor for Devex and leads the company's news team in Manila. She played a critical role in conceptualizing the Development Newswire. Prior to joining Devex in 2004, she has already published articles and news briefs for Internet media organizations and for the Institute for Ethics and Economic Policy at Fordham University in New York. She earned her bachelor's in political science and master's in public affairs from the University of the Philippines. Eliza is a member of Mensa Philippines.