IMF cancels Haiti's debt, extends loans
The International Monetary Fund on Wednesday cancelled Haiti's debt and extended new loans as part of steps to aid its recovery from a massive earthquake earlier this year, dpa reported.
The IMF's Executive Board backed the cancellation of 268 million dollars in debt and offered a 60-million-dollar loan programme over the next three years to boost Haiti's international reserves and help avoid massive currency fluctuations.
More than 220,000 people died when a 7.0-magnitude earthquake struck Haiti in January. The international community in March pledged nearly 10 billion dollars towards a long-term reconstruction of the impoverished Caribbean nation.