Hollande promises to pay 'moral debt' to former colony Haiti

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French president François Hollande is welcomed by the President of Haiti, Michel Martelly upon his arrival in Haiti.

UK Guardian, Tuesday 12 May 2015

François Hollande on Tuesday became the first president of France to make a formal state visit to Haiti, where bountiful resources and brutal plantation slavery made it the European nation’s most profitable colony before an independence uprising more than two centuries ago.

For Haiti’s government and business community, the visit is a welcome opportunity to encourage more investment and highlight progress made since a devastating 2010 earthquake obliterated much of Port-au-Prince and surrounding areas.

But for some in impoverished Haiti, Hollande’s presence is a reminder of the debilitating costs of the successful slave revolt that made Haiti the world’s first black republic in 1804.

Crippled by an international embargo enforced by French warships, Haiti agreed in 1825 to pay France an “independence debt” of 150m gold francs to compensate colonists for lost land and slaves. Although the indemnity was later reduced to 90m gold coins, the debt crippled the Caribbean nation, which did not finish paying it off to French and American banks until 1947.

“We Haitians know that a big reason why we are suffering today is because we were forced to pay France for our freedom. If we were not punished for our independence long ago, we would have had a better time,” water seller Jean-Marc Bouchet said on a dusty, unpaved street in Port-au-Prince.

link: http://www.theguardian.com/world/2015/may/13/hollande-haiti-visit-france-former-colony
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Here's the title quote:

“There is a moral debt that exists,” said Hollande, but he dodged the thorny issue of reparations which some in Haiti have demanded.

“You’re not asking for aid, you want development,” he told Haitians. “You’re not asking for welfare, you want investment.”