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July 23, 2010

IMF Cancels Haiti’s Debt But Gives Haiti a New Loan
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Debt relief activists are praising the International Monetary Fund’s
decision to cancel Haiti’s $268 million debt to the institution, but at
the same time groups including Jubilee USA have criticized the IMF for
continuing to give Haiti loans instead of outright grants. Earlier this
week, the IMF gave Haiti a $60 million loan to help fund post-earthquake
reconstruction efforts. Eric Le Compte of Jubilee USA said, "The role of
the IMF in Haiti has been long criticized, and this new loan could set
Haiti on the wrong path toward a new cycle of debt."



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