Haiti: IMF Cancels Debt

Haiti: IMF Cancels Debt
July 31, 2010 anne mcconnell
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By REUTERS, Published: July 22, 2010

The International Monetary Fund canceled Haiti’s $268 million debt on Wednesday and approved a new loan worth $60 million to increase international reserves in Haiti, which was devastated by an earthquake in January. The fund said the new loan, which carries no interest until the end of 2011 and low rates after that, was not intended to add more debt but to help Haiti manage any volatility that could arise from large amounts of aid going into the country.

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