3 ms·
I will post here the first paragraph of [1], as it directly provides this bit of information: "The Haiti indemnity controversy involves an 1825 agreement betwe
by dantondwa 4y ago
I will post here the first paragraph of [1], as it directly provides this bit of information:
"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 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.[4] 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 yearly, constraining the use of domestic financial funds for infrastructure, public services and ultimately making the nation ungovernable."
[1] https://en.wikipedia.org/wiki/Haiti_indemnity_controversy https://en.wikipedia.org/wiki/Haiti_indemnity_controversy