[News] Maxine Waters moves to cancel Haiti debt immediately

Anti-Imperialist News 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

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