Bahamas to share Haiti's $1b

Haiti's completion of a series of economic reforms prescribed by the IMF has won it over a billion dollars in grant money. That progress is likely to pay dividends to The Bahamas by stemming the flow of economic asylum seekers. Under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative — approved by the boards of the International Development Association (IDA) and the International Monetary Fund (IMF) — Haiti was granted US$1.2 billion of debt relief for reaching the completion point. Haiti is now the 26th country to attain the goal and effectively pocket that money instead of paying it back to international creditors. To reach that completion point, Haiti carried out a number of reforms despite a challenging environment marked by major natural disasters, a food and fuel crisis, difficult political conditions, and... [read full story]                    

powered by
Add Comment
There are also 25 related articles
View all news articles about*:
*Newstin tag cloud displays all featured persons, associated organizations, related topics, regions and companies