The world’s leading industrialised nations have pledged to write off their countries’ debts with Haiti, following a devastating earthquake last month.“G7 will cancel all Haiti bilateral debt,” Canadian Finance Minister Jim Flaherty said at a G7 summit in Canada.
The G7 group also includes the US, UK, France, Germany, Italy and Japan.
At least one million people currently need aid in Haiti after the Magnitude 7 earthquake that officials say killed more than 200,000 people.
British Prime Minister Gordon Brown hailed the pledge made at the summit in Iqaluit, northern Canada.
“It must be right that a nation buried in rubble must not also be buried in debt,” he said.
“The UK has already cancelled all debts owed to it by Haiti and I strongly welcome today’s G7 commitment to forgive Haiti’s remaining multilateral debt. We will work with others to make sure this is delivered.”
UK-based charity Oxfam has urged the writing off of about $900m (£557m) owed by Haiti to donor countries and institutions. It is unclear what portion of that amount Haiti owes to the G7 nations.