Global Information Lookup Global Information

Haiti Independence Debt information

The Baron de Mackau of France presenting demands to Jean-Pierre Boyer, President of Haiti, in 1825

The Haiti indemnity controversy involves an 1825 agreement between Haiti and France that included France demanding an indemnity of 150 million francs to be paid by Haiti in claims over property – including Haitian slaves – that was lost through the Haitian Revolution in return for diplomatic recognition, with the debt removing $21 billion from the Haitian economy.[1][2] The first annual payment alone was six times Haiti's annual revenue.[1] The payment was later reduced to 90 million francs in 1838, equivalent to $32,535,940,803 in 2022, with Haiti paying about 112 million francs in total.[3] Over the 122 years between 1825 and 1947, the debt severely hampered Haitian economic development as payments of interest and downpayments totaled a significant share of Haitian GDP, constraining the use of domestic financial funds for infrastructure and public services.[1][4]

France's demand of payments in exchange for recognizing Haiti's independence was delivered to the country by several French warships in 1825, twenty-one years after Haiti's declaration of independence in 1804.[5][6] Due to the unrealistic demands pushed by France, Haiti was forced to take large loans from French bank Crédit Industriel et Commercial, enriching the bank's shareholders.[7] Though France received its last indemnity payment in 1888,[1] the government of the United States funded the acquisition of Haiti's treasury in 1911 in order to receive interest payments related to the indemnity.[8] In 1922, the rest of Haiti's debt to France was moved to be paid to American investors.[9] It took until 1947 – about 122 years – for Haiti to finally pay off all the associated interest to the National City Bank of New York (now Citibank).[8][10] In 2016, the Parliament of France repealed the 1825 ordinance of Charles X, though no reparations have been offered by France.[2] These debts have been denounced by some historians and activists as Guilty of Haiti's Poverty today and a case of odious debt, although others point to the lack of growth relative to the neighbouring Dominican Republic, even since the debt was repaid, as evidence for other factors. In 2022, The New York Times published a dedicated investigative series on the topic.[11]

  1. ^ a b c d Gamio, Lazaro; Méheut, Constant; Porter, Catherine; Gebrekidan, Selam; McCann, Allison; Apuzzo, Matt (2022-05-20). "Haiti's Lost Billions". The New York Times. ISSN 0362-4331. Retrieved 2022-05-24.
  2. ^ a b Méheut, Constant; Porter, Catherine; Gebrekidan, Selam; Apuzzo, Matt (2022-05-20). "Demanding Reparations, and Ending Up in Exile". The New York Times. ISSN 0362-4331. Retrieved 2022-05-24.
  3. ^ de Cordoba, Jose (2004-01-02). "Impoverished Haiti Pins Hopes for Future On a Very Old Debt". The Wall Street Journal. ISSN 0099-9660. Retrieved 2021-02-20.
  4. ^ 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 2022-05-23.
  5. ^ "France Urged to Pay $40 Billion to Haiti in Reparations for "Independence Debt"". Democracy Now!. 17 August 2010.
  6. ^ "Why The US Owes Haiti Billions - The Briefest History".
  7. ^ Apuzzo, Matt; Méheut, Constant; Gebrekidan, Selam; Porter, Catherine (2022-05-20). "How a French Bank Captured Haiti". The New York Times. ISSN 0362-4331. Retrieved 2022-05-24.
  8. ^ a b Douglas, Paul H. from Occupied Haiti, ed. Emily Greene Balch (New York, 1972), 15–52 reprinted in: Money Doctors, Foreign Debts, and Economic Reforms in Latin America. Wilmington, Delaware: Edited by Paul W. Drake, 1994.
  9. ^ Hubert, Giles A. (January 1947). "War and the Trade Orientation of Haiti". Southern Economic Journal. 13 (3): 276–284. doi:10.2307/1053341. JSTOR 1053341.
  10. ^ Marquand, Robert (2010-08-17). "France dismisses petition for it to pay $17 billion in Haiti reparations". Christian Science Monitor. ISSN 0882-7729. Retrieved 2019-08-31.
  11. ^ 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 22 Related for: Haiti Independence Debt information

Request time (Page generated in 0.9259 seconds.)

Haiti Independence Debt

Last Update:

[better source needed] Haiti's legacy of debt began shortly after a widespread slave revolt against the French, with Haitians gaining their independence from France...

Word Count : 3970

External debt of Haiti

Last Update:

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...

Word Count : 1826

Haitian Revolution

Last Update:

now the sovereign state of Haiti. The revolt began on 22 August 1791, and ended in 1804 with the former colony's independence. It involved black, biracial...

Word Count : 17898


Last Update:

Haiti (/ˈheɪti/ HAY-tee; French: Haïti [a.iti]; Haitian Creole: Ayiti [ajiti]), officially the Republic of Haiti (French: République d'Haïti; Haitian...

Word Count : 22563

Dominican War of Independence

Last Update:

France. A debt was accrued by Haiti in order to pay for their own independence from the European nation; this would give rise to many anti-Haitian plots.[citation...

Word Count : 2940

Economy of Haiti

Last Update:

Haiti is a free market economy with low labor costs. A republic, it was a French colony before gaining independence in an uprising by its enslaved people...

Word Count : 3980

United States occupation of Haiti

Last Update:

France's financial loss following Haiti's independence – resulted with Haiti using much of its revenue to pay debt to foreign nations by the late-1800s. The...

Word Count : 10348

Chilean independence debt

Last Update:

the time to take new loans. Haiti Independence Debt "La deuda pública externa de Chile (1810-2004)" [The external public debt of Chile (1810-2004)]. Memoria...

Word Count : 203

Haitian occupation of Santo Domingo

Last Update:

overthrow the Spanish government and declared independence from Spain. Meanwhile the mulatto president of Haiti, Jean-Pierre Boyer, offered his support to...

Word Count : 5383

History of Haiti

Last Update:

to the Haitian Revolution. André Rigaud, leader of the revolution, forced the French to withdraw. When Toussaint Louverture declared independence in 1802...

Word Count : 16482

Slavery in Haiti

Last Update:

is to this rebellion in Haiti that the struggle for independence in Latin America can be traced to. However, several Haitian leaders following the revolution...

Word Count : 9962

Second Empire of Haiti

Last Update:

Dominican Republic (in 1849, 1850, 1855 and 1856), which had declared independence from Haiti in 1844, undermined his control over the country. In 1858, a revolution...

Word Count : 1547

Decolonization of the Americas

Last Update:

independent countries in Latin America. The Haitian Revolution lasted from 1791 to 1804 and resulted in the independence of the French slave colony. The Peninsular...

Word Count : 8210

Government of Haiti

Last Update:

conditionally recognizes Haiti's independence and imposes a 150 million franc indemnity on the Haitian government. This debt plagued Haiti's economy for generations...

Word Count : 1913

Faustin Soulouque

Last Update:

August 1867) was a Haitian politician and military commander who served as President of Haiti from 1847 to 1849 and Emperor of Haiti from 1849 to 1859...

Word Count : 2566

Poverty in Haiti

Last Update:

former colonists.” Researchers have found that the independence debt and the resulting drain on the Haitian treasury were directly responsible not only for...

Word Count : 1384

Timeline of Haitian history

Last Update:

This is a timeline of Haitian history, comprising important legal and territorial changes and political events in Haiti and its predecessor states. To...

Word Count : 75

Human rights in Haiti

Last Update:

to invade Haiti unless it paid an "independence debt" of 150 million francs to reimburse France for the loss of its slaves and land. The debt was later...

Word Count : 2389

United States Declaration of Independence

Last Update:

The Declaration of Independence, formally titled The unanimous Declaration of the thirteen united States of America (in the engrossed version but not the...

Word Count : 15586


Last Update:

property, and Haiti was saddled with unmanageable debt for decades. Haiti would Annex Spanish Haiti which had recently gained independence. However, suppression...

Word Count : 7808

National Bank of Haiti

Last Update:

 3. Jose de Cordoba (2 January 2004). "Impoverished Haiti Pins Hopes for Future On a Very Old Debt". The Wall Street Journal. "Historique". Banque de la...

Word Count : 513

Dominican Republic

Last Update:

island, which became the independent state of Haiti in 1804. The Dominican people declared independence from Spain in November 1821. The colony of Santo...

Word Count : 27021

PDF Search Engine ©