- Nov 2, 2009
- 8,801
- 5,870
- Occupation
- independent thoughtist thinker, context linker
Combined with payouts from an existing loan programme, the IMF said on
Wednesday it would transfer a total of $114 million to Haiti's government by
the end of this week, marking the largest handover of funds since the
magnitude-7 earthquake struck January 12.
IMF Managing Director Dominique Strauss-Kahn said the transfer would
provide Haiti with "urgently needed cash resources" that would allow it to
acquire emergency imports to help those who survived.
The IMF has been under fire along with other creditors for offering Haiti loans
instead of grants and refusing to cancel Haiti's debt. The IMF said Haiti
would not have to start paying back the loan for five and a half years.
Strauss-Kahn lamented that the earthquake had destroyed Haiti's economy
just as it was beginning to show signs of improvement. He noted that, at
nearly 3%, Haiti had the second-highest growth rate in the Western Hemisphere in 2009.
"Aside from the human tragedy, this disaster represents a major setback for
the Haitian economy, following several years of progress in maintaining
macroeconomic stability, resuming growth, and implementing essential
structural reforms," Strauss-Kahn said.
The January 12 earthquake killed at least 150,000 people and left much of
the impoverished Caribbean country in ruins.
more: http://timesofindia.indiatimes.com/...million-loan-to-Haiti/articleshow/5507615.cms
Wednesday it would transfer a total of $114 million to Haiti's government by
the end of this week, marking the largest handover of funds since the
magnitude-7 earthquake struck January 12.
IMF Managing Director Dominique Strauss-Kahn said the transfer would
provide Haiti with "urgently needed cash resources" that would allow it to
acquire emergency imports to help those who survived.
The IMF has been under fire along with other creditors for offering Haiti loans
instead of grants and refusing to cancel Haiti's debt. The IMF said Haiti
would not have to start paying back the loan for five and a half years.
Strauss-Kahn lamented that the earthquake had destroyed Haiti's economy
just as it was beginning to show signs of improvement. He noted that, at
nearly 3%, Haiti had the second-highest growth rate in the Western Hemisphere in 2009.
"Aside from the human tragedy, this disaster represents a major setback for
the Haitian economy, following several years of progress in maintaining
macroeconomic stability, resuming growth, and implementing essential
structural reforms," Strauss-Kahn said.
The January 12 earthquake killed at least 150,000 people and left much of
the impoverished Caribbean country in ruins.
more: http://timesofindia.indiatimes.com/...million-loan-to-Haiti/articleshow/5507615.cms