IMF cancels Haiti's $268m debts and agrees $60m loan

[dipsydoodle]

The International Monetary Fund (IMF) has agreed to cancel Haiti's $268m (£176m) debt and lend the impoverished Caribbean nation a further $60m.

The IMF said both decisions formed part of a strategy to support Haiti's reconstruction plans in the wake of the devastating earthquake six months ago.

The disaster left some 230,000 people dead and more than a million homeless.

The international community pledged $9.9bn (£6.5bn) for the reconstruction effort at a conference in March.

http://www.bbc.co.uk/news/business-10720877

Given pledges of US$9.9 million not sure why they'd need a 60 million loan other than exactly where are the pledges ?

[EFerrari]

1. It all sounds like a shell game, doesn't it?

[Judi Lynn]

2. Why won't any country recognize this small island's people have been abused enough,

don't need any more flimflammery from powerful entities.

As EFerrari said, it DOES sound like a shell game.