Thursday, March 4, 2010

Haiti's Debt Still Not Cancelled

Despite recent media reports, Haiti's debt still is not cancelled. Although the G7 has announced that they will cancel the debts due to them from Haiti, the vast bulk of Haiti's debt is owed to international financial institutions (IFIs) such as the Inter-American Development Bank, the IMF and the World Bank.

Ireland is implicated in the failure to cancel Haiti's debt in its entirety through its membership of the IMF and the World Bank. However, Canada represents Ireland's views at the executive boards of these institutions and has still not insisted that the IFIs cancel Haiti's debt.

Debt and Development Coalition Ireland (DDCI) are calling on people to pressure the Irish and Canadian governments so that Haiti's debt can be cancelled immediately and unconditionally.

Please send the below text (amended as you wish) to the Canadian Minister for Finance (jflaherty@fin.gc.ca) and the Canadian Minister for Foreign Affairs (lawrence.cannon@international.gc.ca) and copy Brian Lenihan (minister@finance.gov.ie), Micheál Martin (minister@dfa.ie) and Peter Power (peter.power@dfa.ie);

Dear Minister Flaherty and Minister Cannon

I am writing to you from my country, Ireland, to express my deep concern about Haiti's unjust debt situation. The Haitian people deserve a debt-free future, not least because much of their debt was accumulated on an illegitimate basis.

Canada, as chair of the constituencies at the World Bank and IMF which represent Ireland, plays a critical role in ensuring Ireland's voice is heard in these institutions. Ireland has a policy of supporting debt cancellation for the most impoverished countries in the world. The Irish government, Irish parliamentarians and the people of Ireland have recently expressed very strong support for the immediate cancellation of Haiti's debts.

Your recent announcement at the G7 Finance Ministers Summit in support of debt cancellation for Haiti is very welcome. Now we must see unconditional, full debt cancellation for Haiti happen in reality.

I urge you to strongly support total, immediate and unconditional debt cancellation for Haiti at the Executive Boards of the World Bank and IMF (US$ 205 million) in addition to the cancellation of the most recent loan of US$ 102 million extended to Haiti by the IMF. I also urge you to use your influence as a member of the Inter-American Development Bank (IDB) to ensure immediate cancellation of the sizeable debt of US$ 418 million outstanding to the IDB from Haiti.

Haiti needs a debt free start and I urge you to urgently act to ensure this happens now.

Yours sincerely,
[INSERT YOUR NAME AND ADDRESS]
(cc Irish Minister for Finance Brian Lenihan T.D; Irish Minister for Foreign Affairs Micheál Martin T.D; Irish Minister for State for Overseas Development Peter Power T.D)

No comments: