Forgiving Haiti's Debt in the Aftermath of the Haiti Earthquake

In the aftermath of the Haiti earthquake, Paris Club of creditor nations has requested Haiti's bilateral lenders to waive Haiti's debt. Paris Club is an informal club of creditor governments, which includes several industrialized countries. Haiti owes money to the US, Britain, Canada, Belgium, Denmark, France, Germany, Italy, the Netherlands, Spain, all of which are Paris Club members.

Much before the Haiti earthquake (in July), Paris Club had decided to waive the debt to Haiti. After the Haiti Earthquake, it is a huge relief to the nation that they don't need to pay those $214m to the Club. Other than the Paris Club, Haiti owes $167m to Venezuela and $91m to Taiwan, as per the IMF (International Monetary Fund, UN)

In my previous articles, Haiti Earthquake Aftermath - Emotional Trauma Awaits Haiti Victims and Haiti Earthquake Damage Tales on Twitter and Facebook , I have mentioned that Haiti is the poorest nation in the Western Hemisphere.

To understand this part, we need to look into the history of Haiti. Haiti was ruled for hundreds of years by the Spanish and French. These were ruthless times. During this colonial rule, Haiti lost its natural resources and the indigenous Haitians suffered by way of slavery, diseases and poverty in general. Then came the time of the US occupation, from 1915 to 1934. Democracy did not exist in Haiti and things were just horrible and devastating.

So now that we all know why Haiti is so poor, we can say "You are wrong!" to anyone who says, Haiti is poor due to a "pact with the devil". It is the doing of other countries that Haiti is poor. Devil has no hand in it. Our governments do. (You can call them the devil if you want ). Not to mention, the Haiti earthquake is due to Mother nature not "the devil". (You know too well, who I am referring to here.)

I see a ray of hope with the Paris Club asking other bilateral creditors of Haiti to immediately cancel the debt. Haiti does not just need this, it deserves this, especially after the Haiti earthquake.

Taiwan's President, Ma Ying-jeou, made a statement that Taiwan was indeed thinking of can celling the debts
from earthquake-ravaged Haiti.

Let's end this on a note that sums it up well. I love what Meryl Streep remarked at the Golden Globes, "Shoot some money to Partners In Health and be damn grateful you have the dollars to help."

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