IMF cancels Haiti debt

By Andy Rice 22 July 2010

The International Monetary Fund cancelled Haiti's $268 million debt on Wednesday. It was quick, however, to issue the country with a new loan of $60 million. According to the IMF, this loan was not meant to give the country new debt, but to help Haiti "manage volatility" that might arise owing to the aid flowing into the country.  Read more: Reuters via New York Times