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In 2015, France forgave about US$77 million (~$96.8 million in 2023) in modern-day debt, unrelated to independence. [22] In 2004, the Haitian government demanded that France repay Haiti for the millions of dollars paid between 1825 and 1947 as compensation for the property loss of French slaveholders and landowners as a result of the slaves ...
The Baron de Mackau of France presenting demands to Jean-Pierre Boyer, President of Haiti, in 1825. The Haitian independence debt involves an 1825 agreement between Haiti and France that included France demanding an indemnity of 150 million francs in five annual payments of 30 million to be paid by Haiti in claims over property including Haitian slaves that was lost through the Haitian ...
On 17 April 1825 an agreement was made between the two nations. France renounced all attempts to re-conquer Haiti and recognized Haiti as an independent nation after Haiti agreed to pay France 150 million gold francs in indemnity to the former colonists within five years.
To keep up with the payments to France, Boyer had to implement a special tax and negotiate a loan of 30 million to a French bank with an interest rate of 6%, while asking for a reduction of the debt. Charles X also demanded a 50% reduction in customs (export) duties for products exported to France.
Ange René Armand, Baron de Mackau (17 February 1788 – 13 May 1855) was a French naval officer and politician. In 1825, he led 14 brigs of war to Haiti in one of the earliest instances of gunboat diplomacy, forcing the recently emancipated people of Haiti to pay 150 million francs to their former enslavers. [1]
An approach to work around this is to select one currency as the funding currency (e.g. USD), and select one curve in this currency as the discount curve (e.g. USD interest rate swap curve against 3M LIBOR). Cashflows in the funding currency are discounted on this curve. Cashflows in any other currency are first swapped into the funding ...
The Haitian occupation of Santo Domingo [a] (Spanish: Ocupación haitiana de Santo Domingo; French: Occupation haïtienne de Saint-Domingue; Haitian Creole: Okipasyon ayisyen nan Sen Domeng) was the annexation and merger of then-independent Republic of Spanish Haiti (formerly Santo Domingo) into the Republic of Haiti, that lasted twenty-two years, from February 9, 1822, to February 27, 1844.
By 1796 the issues had reached 45.5 billion francs, excluding counterfeits, and the Directoire issued Mandats, a currency in the form of land warrants to replace the assignats, although these too quickly failed and were received back by the state at a steep discount. [24] Napoleon opposed all forms of fiat currency.
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