Jubilee USA Welcomes US Government Support of Haiti Debt Cancellation
As G7 Finance Ministers Prepare to Meet, Treasury Secretary Geithner Announces Support to Cancel Debt and Provide Grants, Not Loans for Recovery
For Immediate Release February 5th
Jubilee USA Network
Contact: Hayley Hathaway, Communications Coordinator, 202-783-3566 x100
Jubilee USA Network, an alliance of more than 75 religious denominations and faith communities, human rights, environmental, labor, and community groups, welcomes today’s public statement from Treasury Secretary Geithner to work with global leaders to achieve full debt cancellation for Haiti and to ensure that additional support for the country be in the form of grants, not loans.
“We are gratified and motivated by Secretary Geithner’s commitment today, as achieving full debt cancellation for Haiti is a crucial step for the country’s long term recovery after the devastating earthquake,” said Melinda St. Louis, Deputy Director of Jubilee USA Network. “Secretary Geithner has heard the call for Haiti’s debt cancellation from organizations, activists, Congress, and the Haitian people - and has listened. This weekend in Canada, we can look forward to the US using its leadership to secure a broader commitment from G7 finance ministers.”
In a public statement released today, Treasury announced that the U.S. intends to seek a commitment with other donors for Haiti's debt relief to the international financial institutions “in a manner that provides direct and immediate grant support to Haiti.” The Treasury Secretary states, "Today, we are voicing our support for what Haiti needs and deserves – comprehensive multilateral debt relief."
In the days following the devastating earthquake on January 12th, Jubilee USA Network helped lead efforts by US civil society to achieve debt cancellation of the $709 million Haiti owes to the international financial institutions, including the International Monetary Fund and the Inter-American Development Bank. Last week, over 80 US faith, labor, and human rights organizations sent a letter urging Secretary Geithner to negotiate Haiti’s debt cancellation. This message was echoed in another letter sent yesterday by 94 Members of the House of Representatives. Legislative momentum also continues to build in both bodies of Congress.
Jubilee USA Network members have joined with ONE, Oxfam, and Avaaz to collect hundreds of thousands of petitions to deliver to the G7 ministers this weekend urging fast and comprehensive debt cancellation, so Haiti can begin its recovery without the burden of debt.
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