Haiti’s Debt to France
Haiti paid $21 billion to compensate France for the loss of a colony and slaves
Haiti is a nation which has been persistently impoverished ever since its independence in 1804, following the most successful slave rebellion in history the Haitian Revolution (1791–1804) and has remained impoverished primarily due to the nations external debt. Haiti was formerly under French colonial rule (1625–1804) and was known as Saint-Domingue, and was one of France’s most profitable and valued colonies. Which France ensured it would be compensated for the loss of.
Shortly after Haitian independence in 1804, France demanded that the newly formed country pay the French government, French slaveholders and for French recognition of Haiti as a sovereign state, a total of 150 million francs; with France frequently threatening Haiti with its warships if Haiti did not cooperate. Not only did France demand compensation but also that Haiti discounts its exported goods to France by 50%, leaving Haiti to operate almost as a colony despite it being a sovereign state (Jacobin, 2017).
France in 1834 reduced Haiti’s “Independence Debt” to 90 million francs (the modern equivalent of $21 billion) and was to be paid back over 30 years, as a form of compensation to plantation owners who lost “property” and the “theft” of slaves…
