Money owed from Haiti to other countries and international institutions to repay loans
Sticker in Port-au-Prince demanding repayment from the French government
The external debt of Haiti is a notable and controversial national debt which mostly stems from an outstanding 1825 compensation to former slavers of the French colonial empire and later 20th century corruptions.
The French Revolutionary and Napoleonic Wars in Europe allowed rebel Haitian slaves to overpower French colonial rule and gain independence in the 1791–1804 Haitian Revolution. The restored French monarchy, supported by European monarchies, sent the 1825 French expedition to Haiti to demand, with military menace, massive compensations: Haiti had to repay the French government and former slaveholders the modern equivalent of US$105 billion, later reduced to US$21 billion for the loss of massively profitable slave-plantation assets and revenues. This price for independence was financed by French banks and the American Citibank, and finally paid off in 1947.
Later, the corrupt Duvalier dynasty added to the country's debts. The Duvaliers are believed to have used the money to expand their power and for their personal enrichment. In the early 21st century, and especially after the devastating earthquake in 2010, the World Bank and some other governments had planned to forgive the debt. Instead, remaining parts of Haiti's debt repayments were postponed. France forgave a more recent loan with a balance of US$77 million, but has refused to consider repaying the independence debt.
These debts are denounced as the root of contemporary Haiti's poverty and a case of odious debt, debt forced upon a population with abusive force. In 2022, The New York Times published a dedicated investigative series on that matter.[1]
^Porter, Catherine; Méheut, Constant; Apuzzo, Matt; Gebrekidan, Selam (2022-05-20). "The Root of Haiti's Misery: Reparations to Enslavers". The New York Times. ISSN 0362-4331. Retrieved 2022-05-27.
and 28 Related for: External debt of Haiti information
The externaldebtofHaiti is a notable and controversial national debt which mostly stems from an outstanding 1825 compensation to former slavers of the...
The Haiti Independence Debt involves an 1825 agreement between Haiti and France that included France demanding an indemnity of 150 million francs to be...
This is a list of countries by externaldebt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies...
into Haiti as a means for sustainable development. In 2005 Haiti's total externaldebt reached an estimated US$1.3 billion, which corresponds to debt per...
prime minister. ExternaldebtofHaiti French colonization of the Americas History of the Americas History of the Caribbean History of the Dominican Republic...
corporate debt List of countries by household debt List of countries by externaldebt Global debt National debtof the United States National debtof Japan...
Constitution Haiti'sexternaldebt Jubilee USA Network Moral hazard Sovereign debt Sovereign default Robert Howse (July 2007). The Concept of Odious Debt in Public...
2022[update], global debt was the equivalent of 305 trillion USD. This including debt by both public and private debtors. The total externaldebt owed by public...
with Haiti using much of its revenue to pay debt to foreign nations by the late-1800s. The United States had been interested in controlling Haiti in the...
of its externaldebt. More than 90 percent of the government's budget comes from an agreement with Petrocaribe, a Venezuela-led oil alliance. Haiti received...
The debtof developing countries usually refers to the externaldebt incurred by governments of developing countries. There have been several historical...
succeeded Rengifo as Minister of Finance paid off all the default and refused at the time to take new loans. Haiti Independence Debt "La deuda pública externa...
default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables)...
commercial buildings had collapsed or were severely damaged. Haiti's history of national debt, prejudicial trade policies by other countries, and foreign...
The government ofHaiti is a semi-presidential republic, a multi-party system wherein the President ofHaiti is head of state elected directly by popular...
The Haitian Revolution (French: révolution haïtienne or French: La guerre de l'indépendance French pronunciation: [ʁevɔlysjɔ̃ a.i.sjɛn]; Haitian Creole:...
Debt crisis is a situation in which a government (nation, state/province, county, or city etc.) loses the ability of paying back its governmental debt...
The Haitian occupation of Santo Domingo (Spanish: Ocupación haitiana de Santo Domingo; French: Occupation haïtienne de Saint-Domingue; Haitian Creole:...
the founder of TransAfrica. He was known particularly for his impassioned opposition to apartheid, and for his advocacy on behalf ofHaitian immigrants...
communities in the nation. Haiti has long struggled with poor living conditions in the more rural areas of the country causing many Haitians to migrate towards...
provides debt relief and low-interest loans to cancel or reduce externaldebt repayments to sustainable levels. This means the nations can repay debts in a...
Government debt and liabilities data is sourced from the State Bank of Pakistan. Pakistan's externaldebt servicing includes the repayment of both the principal...
develop the country economically. The Haitian state was deeply in debt. The externaldebt alone was equivalent to 4 years of the government budget. Borno decided...
Agreement on German ExternalDebts in 1953. After another pause pending the reunification of Germany, the last installment of these debt repayments was paid...
within the Order. The currency of a number of states is pegged to the euro. These states are: North America Haiti (Haitian gourde, HTG) Europe Albania...
Haiti—an island country 600 miles off the coast of the U.S. state of Florida—shares the Caribbean island of Hispaniola with the Dominican Republic. Haiti...
undisputed border with Haiti in 1935, and achieved the end of the 50-year customs agreement in 1941, instead of 1956. He made the country debt-free in 1947. This...