[News] Maxine Waters moves to cancel Haiti debt immediately
news at freedomarchives.org
Fri Jun 23 12:37:05 EDT 2006
Maxine Waters moves to cancel
$1 billion in debt immediately
U.S. Representative Maxine Waters Introduces Resolution to Cancel
More Than $1 Billion in Debt for Haiti Legislation Would Give Newly
Elected Government A Fresh Start
Washington, DC- United States Representative Maxine Waters (CA-35)
today introduced a resolution urging the International Monetary Fund
(IMF), the World Bank, the Inter-American Development Bank, and other
multilateral financial institutions to provide Haiti complete debt
cancellation immediately. The resolution also urges the U.S.
Secretary of the Treasury to use the voice, vote, and influence of
the United States within these institutions to accomplish this goal.
Waters was able to garner bipartisan support for her resolution that
includes senior members of the House Financial Services Committee and
the House International Relations Committee as original co-sponsors.
"The impoverished people of Haiti cannot wait, as suggested by the
World Bank, until 2009 for debt cancellation," said Congresswoman
Waters. "The IMF, the World Bank and the Inter-American Development
Bank should cancel Haiti's debts now and allow President Preval and
the newly elected government of Haiti to invest in social and
economic development for the Haitian people."
President Rene Garcia Preval was installed as President of Haiti last
month, following democratic elections in which more than 60 percent
of registered voters participated.
"The cancellation of Haiti's debts will enable the newly-elected
government of Haiti to improve healthcare, education and other
essential government services; invest in critical infrastructure; and
improve the lives of the Haitian people," said Congresswoman Waters.
According to the IMF, Haiti owes over $1 billion dollars to
multilateral financial institutions, including $9.1 million to the
IMF, $566.7 million to the World Bank, and $470.9 million to the
Inter-American Development Bank. Rep. Waters' resolution would
expedite the process that would relieve Haiti of its debt burden and
provide its newly elected government with a solid economic foundation
as it moves into the future.
CONTACT: Edward Jackson (202) 225-2201
The Freedom Archives
522 Valencia Street
San Francisco, CA 94110
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