When Pat Robertson claimed that Haiti's tumultuous history was the result of "a pact with the Devil" long ago, he was right in a way. Following history's only slave revolt that resulted in the liberation of a nation, Haiti accepted a deal with France to pay "an odious" tax in exchange for her continued "freedom." Was France the "Devil" Robertson was speaking of?
More than two decades after rebellious former slaves vanquished troops from Napoleon's army here in 1803, France's King Charles X made the fledgling republic of Haiti an offer it couldn't refuse.
In 1825, as the king's warships cruised just over the horizon from the Haitian capital, a French emissary demanded 150 million gold francs in exchange for recognizing the new republic.
The implicit alternative was invasion and re-enslavement.
It was a huge sum, about five times Haiti's annual export revenue. Haiti's then-president reluctantly agreed, taking on a crushing debt. Source: Impoverished Haiti pins hopes for future on a very old debt, WSJ via 'Odious Debts'
Finally, Haiti may be poised to resolve it's crippling international debt.
The Obama administration says it is near an agreement with other nations to cancel the $447 million that Haiti owes to the Inter-American Development Bank.
Treasury Department officials said Thursday that a deal would likely be struck this weekend to cancel Haiti's debt to the bank, which serves as a major source of development loans for Latin America and the Caribbean.
One of the Treasury officials who briefed reporters Thursday said that the administration is working for an agreement at IADB meetings that would not only cancel Haiti's IADB debt but would also to lead to Haiti receiving grants from the bank that would not have to be repaid. Source: Obama administration says near deal on Haiti debt, AP
Haiti estimates that it will need $11.5 billion to rebuild. This $447-million debt cancellation and the $450 million pledged by French President Nicholas Sarkozy, following the earthquake, would be a step in the right direction. International donors recently pledged an additional $3.8 billion dollars over 18 months.
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By: peabody on 3/22/2010 8:25AM
Yeah, give Obama and the World bank credit for being such caring and gracious neighbors, cancelling their economic strangle-hold on a battered and torn nation that could never pay anyway.
On the real side of things, this is a fine time for France and America to pay reparations to Haiti for the billions swindle from their country, over the years.
Sometimes, it hard to tell which is the worst mongrels...English, Spanish or French...damn barbarians!!!
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By: cocoadelight on 3/19/2010 8:44PM
My deepest wish is that Haiti becomes an economically viable country. Unfortunately, history repeats itself, and for at least a century, Haiti has been ruled by greedy and corrupt leaders who care little for the people and who have stolen their money just for themselves. Graft is ingrained in the culture, I fear, and the masses will continue to live a life barren of basic life essentials no matter what.
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By: 79dfca5b on 3/21/2010 11:55AM
NOW THIS SOUNDS LIKE TRUE NATION BROTHER-HOOD , LET'S MAKE IT HAPPEN , AND BRING BACK THEIR KID-
NAPPED PRESIDENT THE ONE THAT BUSH KIDNAP . BUSH WAS PART OF THE DEVIL RIGHT ALONG WITH ROBERTSON .
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By: LittleMrsSunshine on 3/21/2010 3:43PM
A good place to start, this absolving of a debt that never should have been created. This would be a pragmatic, reasonable alternative to pouring money into a bottomless pit economy such as theirs.
(My sisters visited Labadee, Haiti, and they said that the poverty was like none they'd ever seen before.)
However, let us hope and pray that Haiti does not fall into the same debt abyss twice. It is easy to presume that once a nation is debt-free that its leadership is free to make carte blanche decisions at no risk.
Considering it is the poorest country in the western hemisphere, it is pressed for well-educated, altrustic leadership. Who will lead Haiti with a sharp mind and a good heart for all of its people? Remember Baby Doc and Papa Doc Duvalier and the crap their dictatorship pulled on their people? I would hate to see a reprisal of a ruling fair-skinned class bullying the darker blacks AGAIN. Like it or hate it, the truth is what it is.
Haiti will stand strong, but only if it has the benefit of a just leader with enough money not to be corrupted, and no complexion biases. Perhaps they will promote and elect someone who has proved his or her ability to lead before, during and after the earthquake.
Sounds like a tall order to fill, don't you think?
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