Here's a report from the D.C. Office's intrepid legislative director John Fawcett:
(image: Treasury Secretary Tim Geithner)
Hi Folks – so often it can take months, years and even decades to see the results of our advocacy… and sometimes it takes a couple of days.
Following the receipt of the Waters/Ros-Lehtinen letter with 94 signatures – including Financial Services Chair Barney Frank and House Majority Leader Steny Hoyer – Secretary Geithner announced today that he will work to eliminate all of Haiti’s debt and provide any further assistance in the form of grants. We were hearing nothing from the White House on its intentions, so this is a huge shift. Most of Haiti’s remaining debt is owed to multilateral institutions like the IMF and IDB, so this doesn’t guarantee that the debt will be cancelled, but having the full support of the U.S. is absolutely critical and a real turning point.
Thanks again for you work on this letter. In thanking your members for signing, you can let them know this had a real impact. The press release from Treasury is pasted below.
Thanks,
John
U.S. Treasury Department
Office of Public Affairs
Office of Public Affairs
FOR IMMEDIATE RELEASE: February 4, 2010
CONTACT: Natalie Wyeth, Treasury Public Affairs (202) 622-2960
SECRETARY GEITHNER VOICES SUPPORT FOR INTERNATIONAL DEBT RELIEF FOR HAITI, FINANCING OF RECOVERY THROUGH GRANTS
WASHINGTON – The U.S. Department of the Treasury today announced the United States will work with its partners around the world to relieve all debts owed by Haiti to international institutions and to ensure grant financing to support Haiti’s reconstruction and recovery from the devastating earthquake in January.
“The earthquake in Haiti was a catastrophic setback to the Haitian people who are now facing tremendous emergency humanitarian and reconstruction needs, and meeting Haiti’s financing needs will require a massive multilateral effort,” said Treasury Secretary Tim Geithner. “Today, we are voicing our support for what Haiti needs and deserves – comprehensive multilateral debt relief.”
Secretary Geithner also welcomed International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn's call to provide full relief for Haiti's outstanding IMF debt, including the $102 million emergency loan approved on January 27, 2010.
“We are committed to working quickly and closely with these institutions in a way that provides immediate grant assistance to help the Haitian people recover and rebuild,” Secretary Geithnercontinued. “I very much welcome the initiative taken on this issue by leaders in Congress, the IMF, and the MDBs and look forward to working with them to provide the critical support Haiti needs for recovery as well as to discussing this issue with my G-7 colleagues this weekend.”
Treasury announced that the U.S. intends to seek a commitment with other donors for the relief of Haiti’s debt to the Inter-American Development Bank (IDB), the International Fund for Agricultural Development (IFAD) and the International Development Association (IDA) in a manner that provides direct and immediate grant support to Haiti.
In September 2009, the U.S. concluded an agreement with Haiti that eliminated 100 percent of the Haitian Government’s outstanding debt to the U.S. This action was taken following Haiti’s successful completion of the Heavily Indebted Poor Country (HIPC) Initiative process in June 2009.
