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Now that earthquake relief efforts are getting under way, U.S. Sen. Christopher J. Dodd, D-Conn., plans to introduce legislation to ease Haiti’s international debt burden.
He and U.S. Sen. Richard Lugar, R-Ind., will co-sponsor a bill that would instruct the treasury secretary to work with other nations to relieve Haiti of its outstanding debt with the International Monetary Fund, including future debt incurred through 2011, according to a press release.
The legislation will help promote trade between the United States and Haiti, the release said.
“The scope of devastation in Haiti is tremendous, and it’s evident that the country of Haiti will need extraordinary support from the international community — with aggressive leadership from the United States — to recover from this crisis,” said Dodd.
The Jan. 12 earthquake has left up to 200,000 dead, according to Haiti’s government, as well as 250,000 injured and 2 million homeless. Haiti’s population totals 9 million; it is one of the poorest countries in the world.
Tom Hart, government relations director for the advocacy organization ONE, said Haiti has $1 billion in debt, two-thirds of it owed to the IMF, the InterAmerican Development Bank and the World Bank, and $387 million to Taiwan and Venezuela. The United States does not hold any Haitian debt, Hart said.
Hart said Haiti had $1.2 billion of pre-2004 debts canceled in June through the World Bank’s Heavily Indebted Poor Countries program. “They have already met the qualifications for good governance and financial reforms as recently as last year,” Hart said.
“The legislation would direct or urge the U.S. government to use its influence” to have outstanding debt canceled and to make future aid in the form of grants, not loans, Hart said. The United States is a 20 percent shareholder in the IMF and World Bank, and has a 30 percent stake in the IDB.
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I feel for the Haitian people and the shit that has happened to them, but this fucker should be trying to ELIMINATE OUR DEBT 1st and foremost.
One has to wonder that after this bill is constructed, where in the fine print will it state that good old Mr. Dodd will somehow come into a nice little island with all the furnishings in Haiti.
He and U.S. Sen. Richard Lugar, R-Ind., will co-sponsor a bill that would instruct the treasury secretary to work with other nations to relieve Haiti of its outstanding debt with the International Monetary Fund, including future debt incurred through 2011, according to a press release.
The legislation will help promote trade between the United States and Haiti, the release said.
“The scope of devastation in Haiti is tremendous, and it’s evident that the country of Haiti will need extraordinary support from the international community — with aggressive leadership from the United States — to recover from this crisis,” said Dodd.
The Jan. 12 earthquake has left up to 200,000 dead, according to Haiti’s government, as well as 250,000 injured and 2 million homeless. Haiti’s population totals 9 million; it is one of the poorest countries in the world.
Tom Hart, government relations director for the advocacy organization ONE, said Haiti has $1 billion in debt, two-thirds of it owed to the IMF, the InterAmerican Development Bank and the World Bank, and $387 million to Taiwan and Venezuela. The United States does not hold any Haitian debt, Hart said.
Hart said Haiti had $1.2 billion of pre-2004 debts canceled in June through the World Bank’s Heavily Indebted Poor Countries program. “They have already met the qualifications for good governance and financial reforms as recently as last year,” Hart said.
“The legislation would direct or urge the U.S. government to use its influence” to have outstanding debt canceled and to make future aid in the form of grants, not loans, Hart said. The United States is a 20 percent shareholder in the IMF and World Bank, and has a 30 percent stake in the IDB.
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I feel for the Haitian people and the shit that has happened to them, but this fucker should be trying to ELIMINATE OUR DEBT 1st and foremost.
One has to wonder that after this bill is constructed, where in the fine print will it state that good old Mr. Dodd will somehow come into a nice little island with all the furnishings in Haiti.
NBA is a joke
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