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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 ...
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 ...
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]
President Sarkozy also announced the cancellation of €56 million EUR debt owed by Haiti to France. [15] In May 2015, French President François Hollande paid an official visit to Haiti and promised $145 million USD in development projects within the island nation.
Under pressure, President Boyer agreed to a treaty by which France formally recognized the independence of the state in exchange for a payment of 150 million francs. [52] By an order of 17 April 1826, the King of France renounced his rights of sovereignty and formally recognized the independence of Haiti.
In the final agreement, the value of the U.S. currency was set at 5 + 3333 / 10000 francs per U.S. dollar. [52] In 2023 dollars, the $15 million purchase price is equivalent to about $371 million. As part of the deal, the U.S. assumed responsibility for up to 20 million francs ($3.75 million) of French debts owed to U.S. citizens.
The spot date is day T+1 if the currency pair [1] is USD/CAD, USD/TRY, USD/PHP or USD/RUB. In this case, T+1 must be a business day and not a US holiday. If an unacceptable day is encountered, move forward one day and test again until an acceptable date is found. The spot date is day T+2 otherwise. The calculation of T+2 must be done by ...