IMF cancels Haiti’s debt

THE International Monetary Fund (IMF) said it has cancelled Haiti’s $268 million (€207m) debt and will lend the earthquake-devastated island another $60m to help with reconstruction.

The IMF said the decision is part of a plan for reconstruction after the 7-magnitude quake on January 12 killed as many as 300,000 people and left 1.6 million homeless.

The agency said the decision will encourage aid contributions to the impoverished country.