G7 vows to cancel Haiti debt

THE world's seven most industrialised countries vowed yesterday they would each cancel their nation's remaining bilateral debt with quake-hit Haiti, Canadian Finance Minister Jim Flaherty said. The "G7 will cancel all Haiti bilateral debt," he told a press conference after two days of G7 talks. Haiti's debt to the seven nations — UK, Canada, France, Germany, Italy, Japan, and the US — is already relatively small after being reduced by past relief efforts. Haiti's foreign debt however remains at about US$890million, of which some 41 per cent is owed to the InterAmerican Development Bank.AFP

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