G7 to Cancel All Haiti Debt as Earthquake Recovery Continues

The countries belonging to the G7 have pledged to write off the existing debt owed by Haiti following the country’s devastating 7.0-magnitude earthquake that killed more than 200,000 people last month.

Canadian Finance Minister Jim Flaherty announced the decision during a summit with fellow G7 members who include France, Germany, Italy, Japan, the United Kingdom and the United States.

Speaking from the summit held in Iqaluit in northern Canada British PM Gordon Brown stated “It must be right that a nation buried in rubble must not also be buried in debt.”

Haiti has been struggling to recover from last month’s earthquake as distribution of relief aid has been slowed due to infrastructure inside Port-au-Prince.

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