A growing call has been reverberating across the world to cancel Haiti’s debt ever since the earthquake.
Yesterday the global campaign group Avaaz sent out an email asking people to sign their petition to cancel the country’s debt. Avaaz and partners will deliver it to the IMF and key finance ministers next week.
Their move comes after another anti-poverty group, One, handed over a petition with 150,000 signatures to the International Monetary Fund.
The petition asked that the IMF cancel Haiti’s $165 million debt repayment obligation when the board meets later this week. “Swift action by the IMF would increase momentum and pressure on all creditors,” One said in a statement, according to HuffPo.
This week Venezuelan President Hugo Chavez also announced he was canceling Haiti’s $295 million debt to Petrocaribe, Venezuela’s energy regional energy distributor. “Haiti has no debt with Venezuela — on the contrary, it is Venezuela that has a historic debt with Haiti,” Chavez said.
On Facebook, a group demanding, ‘No Shock Doctrine for Haiti‘ – has accumulated over 30,000 members already.
The World Bank, also under heavy criticism along with the IMF, announced this week it was waiving Haiti’s debt repayments for the next five years.
The Nation magazine reported this week on the issue too:
[Naomi] Klein says that this is “unprecedented in my experience and shows that public pressure in moments of disaster can seriously subvert shock doctrine tactics.” Neil Watkins, Executive Director of Jubilee USA, likewise hails the IMF’s response. “Since the IMF’s announcement last week of its intention to provide Haiti with a $100 million loan, Jubilee USA and our partners have been calling for grants and debt cancellation–not new loans–for Haiti. We are pleased that Managing Director Strauss-Kahn has responded to that call.”
Watkins and others will continue to follow the issue, holding the IMF to its commitment to debt relief and non-conditionality. They’re also pressing the case on Haiti’s other outstanding debt. The largest multilateral holders of Haiti’s debt are the Inter-American Development Bank ($447 million), the IMF ($165 million, plus $100 million in new lending), the World Bank’s International Development Association ($39 million) and the International Fund for Agricultural Development ($13 million). The largest bilateral loans are held by Venezuela ($295 million–hello, Chavez!?) and Taiwan ($92 million).
The lesson: public pressure works, especially in a moment of such acutely visible human need. Keep up the mobilization, on Facebook and in real life.