G7 nations pledge debt relief for quake-hit Haiti
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Sunday, February 07, 2010
The world's leading industrialised nations have pledged to write off the debts that Haiti owes them, following a devastating earthquake last month.
Canada's finance minister announced at a summit in Iqaluit, northern Canada, that Group of Seven countries planned to cancel Haiti's bilateral debts.
Bi- and multilateral lenders including international bodies cancelled some $1.2bn (£800m) of Haiti's debt in 2009.
British Prime Minister Gordon Brown hailed the pledge, saying: "It must be right that a nation buried in rubble must not also be buried in debt".
A woman and her child camp near their former home in Port-au-Prince
Debt relief is expected to free funds for the reconstruction effort
"The UK has already cancelled all debts owed to it by Haiti and I strongly welcome today's G7 commitment to forgive Haiti's remaining multilateral debt," he added.