Pres. Barack Obama WASHINGTON (NNPA) – President Obama has signed into law a bill calling for the United States to take the lead in forgiving debt owed to international lenders by earthquake-ravaged Haiti.
The bill, signed April 26, urges major multinational institutions to cancel all debt owed to them by Haiti and recommends that all aid to the country for the next five years be provided in the form of grants rather than loans.
“The President’s signature on this bill is further indication of the United States’ support for the people of Haiti,” Congresswoman Maxine Waters (D-Calif.), who sponsored the House version of the bill, said in a statement.
The bill was approved in the House on April 14 and passed the Senate earlier in April.
Under the measure, the Treasury Department is required to instruct U.S. executives at the International Monetary Fund, the World Bank and other institutions to use the force and influential power of the United States to cancel Haiti’s debt.
The bill calls for Haiti to receive aid in the form of grants until Feb. 1, 2015. Following that date, multilateral development institutions may resume aid in the form of new loans.
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COMMENT: HAITIAN-TRUTH.ORG
Seems as though this should be good for Haiti. The Nation will not have to make monthly payments, amounting to millions of dollars, on debt.
Now this money will be available to the Government of Haiti.
Now this money will be available to Preval, and his friends, for their ongoing theft of State funds.
One step forward….twenty-three back.
Haiti deserves better than this.
Unfortunately we do not demand what we should have and because of his people like Preval can do what they wish. There is no real democracy in Haiti. We have Preval and his criminal Delatour relatives.
I wish Duvalier would come back. He loved our country.
Haiti needs a leader to follow.
There must be one patriot out there willing to lead the people out of this mess.