G7 nations pledge debt relief for quake-hit Haiti

Earthquake crisis in Haiti could be a chance to recover economy

BBC News: Click Here

According to BBC News, the world’s leading industrialised nations have pledged to write off the debts that Haiti owes them, following a devastating earthquake last month.

“Some $1.2bn (£800m) of Haiti’s debts to countries and international lending bodies has already been cancelled.”

This earthquake crisis could be said to be a catastrophic setback for many Haitians. However, in my opinion, this could be a chance to recover their impotent economy. Many countries are trying to financially support Haiti by financial aids and cancellation of debts.

Haiti had about $1.9bn of debt was an impediment to economic development and growth. But, already, $1.2bn of its debt had been cancelled. I am very hopeful that Haiti’s economy will recover right after its reconstruction with many countries willing to support Haiti.

As a conclusion, this quake crisis could be a setback for many Haitians, but, it could be a chance for them to recover their economy.

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