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Paris Club urges creditor nations to cancel Haiti's debts

The Paris Club of creditor nations urged all of Haiti's bilateral lenders on Tuesday to cancel the earthquake-stricken nation's debt.

Paris Club members agreed in July to cancel their claims on Haiti, totaling $214 million, though some countries have yet to finalize the process. The Paris Club is an informal group of creditor governments from industrialized countries, and those who were owed money by Haiti are Belgium, Canada, Denmark, France, Germany, Italy, the Netherlands, Spain, Britain and the U.S.

The Paris Club "calls upon other bilateral creditors also to urgently provide full debt cancellation to Haiti," considering the financing needs the Caribbean country faces in rebuilding, it said in a statement.

Haiti's primary bilateral debt outside the Paris Club is $167 million owed to Venezuela and $91 million owed to Taiwan, according to the IMF.

Taiwan's President Ma Ying-jeou said Tuesday that Taiwan will consider canceling debts from earthquake-ravaged Haiti, a move that could add to Taipei's cachet in a region where rival China is making inroads.

"I have already asked the Foreign Ministry to conduct the necessary reviews to help Haiti to pass through this difficult time," he said in Taipei.

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