IMF Clarifies Haiti Loan

An positive update on the story about the IMF’s new $100 million loan to Haiti. Apparently now the Fund has reversed its position, stating that “the US$100 million loan does not carry any conditionality. It is an emergency loan aimed at getting the Haitian economy back to function again.” What’s more, IMF officials also say they will immediately begin working on canceling the resulting $265 million debt, effectively turning the loans into grants.

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