News from Reuters. The International Monetary Fund canceled Haiti’s $268 million debt on Wednesday and approved a new loan worth $60 million to increase international reserves in Haiti, which was devastated by an earthquake in January. The fund said the new loan, which carries no interest until the end of 2011 and low rates after that, was not intended to add more debt but to help Haiti manage any volatility that could arise from large amounts of aid going into the country.
My point. It is our money. What is their incentive to use it sparingly?
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
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