Haiti finally completes debt relief process

Only one day after the Central African Republic, the IMF and World Bank have now also agreed to allow Haiti to complete the Heavily Indebted Poor Countries Initiative and receive $1.2 billion in debt relief. Haiti is the 26th country to complete HIPC. This is a major campaign victory after years of struggle for the poorest country in the Western hemisphere. In April this year, the US Obama administration said it would pay the remaining debt service that Haiti owed until it completed HIPC. This decision now makes that permanent, and means that Haiti also gets Multilateral Debt Relief and will have vital extra resources to tackle poverty and crisis.

Read the World Bank press release here.