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About: Haiti indemnity controversy     Goto   Sponge   NotDistinct   Permalink

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The Haiti indemnity controversy involves an 1825 agreement between Haiti and France that included France demanding a 150 million franc indemnity to be paid by Haiti in claims over property – including Haitian slaves – that was lost through the Haitian Revolution in return for diplomatic recognition, with the debt costing Haiti $21 billion to 115 billion of economic growth over a period of two centuries and affecting the nation to this day. The payment was later reduced to 90 million francs in 1838, comparable to US$21 billion as of 2004, with Haiti paying about 112 million francs in total. Over the 122 years between 1825 and 1947, the debt severely hampered Haitian economic development as payments of interest and downpayments totaled a significant share of Haitian GDP, constraining the use