International Business
Haiti Gets Break on Debt: Western creditor nations agreed to write off about $75 million, the French Finance Ministry said. The Paris Club of creditor nations’ terms for the Caribbean nation were very generous, but the ministry gave no further details. Sources said last week that creditors would probably cancel two-thirds of the debt due in a 12-month period and reschedule other repayments over more than 20 years. World Bank data shows that Haiti had foreign debt of $773 million at the end of 1993, while its income last year was less than $2 billion.
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