Jubilee USA Encouraged by Pledge from IMF Chief to Secure Haiti Debt Cancellation

Networks Renews Call for Immediate Debt Cancellation from All Creditors without Harmful Conditions

Jubilee USA Network
www.jubileeusa.org

FOR IMMEDIATE RELEASE
January 20, 2010

Contact: Hayley Hathaway, Communications Coordinator, phone 202-783-3566 x100, cell 860-2005-6078

WASHINGTON – Jubilee USA Network welcomed the statement today by IMF Managing Director Dominique Strauss-Kahn (1)  about his intention to secure debt cancellation for Haiti, including cancellation of the IMF’s proposed $100 million loan for emergency assistance to the country.

“Since the IMF’s announcement last week of its intention to provide Haiti with a $100 million loan, Jubilee USA and our partners have been calling for grants and debt cancellation – not new loans -- for Haiti.  We are pleased that Managing Director Strauss- Kahn has responded to that call,” said Neil Watkins, Executive Director of Jubilee USA.

Jubilee USA and allies had also raised concerns about the possibility of the IMF attaching conditions to its loan to Haiti, and therefore were encouraged by statements (2) from an IMF spokesperson  indicating that the assistance to Haiti will be provided without any conditionality.

“We will continue to follow this issue closely to ensure these promises become a reality. As the IMF Board reviews these issues in the near term, we will work to build broad political support for debt cancellation and grants without conditionality for Haiti and to ensure that any assistance respects Haitian sovereignty. We will also continue our campaign to secure debt cancellation for Haiti’s debt to the Inter American Development Bank,” said Watkins.

(1)Excerpt from Statement from IMF Managing Director Dominique Strauss-Kahn, January 25, 2010:  “The most important thing is that the IMF is now working with all donors to try to delete all the Haitian debt, including our new loan. If we succeed—and I'm sure we will succeed—even this loan will turn out to be finally a grant, because all the debt will have been deleted. And that's the very important thing for Haiti now,” the Managing Director added. Online at: www.imf.org/external/pubs/ft/survey/so/2010/NEW012010A.htm

(2) IMF Spokesperson Andreas Adriano said on January 20, 2010: “The US$100 million loan does not carry any conditionality. It is an emergency loan aimed at getting the Haitian economy back to function again, fund some emergency imports and help get the payments system to become operational.”

VISIT Jubilee USA's Haiti page to learn more