Today, in an editorial, El Caribe newspaper touches on realistic aspects of applying the Hispaniola Investment Fund proposals. The DR has proposed to use part of the fund for reforestation. Nevertheless, El Caribe says debt reduction for developing countries with tropical forests has only a US$30 million allotment in the US Budget. For more information on the law, see http://caselaw.lp.findlaw.com/casecode/uscodes/22/chapters/32/subchapters/iv/sections/section_2431.html It points out that President Bush would have to submit a new bill to the US Congress to increase this amount to have any impact in the region. Furthermore, the editorial writer points out that the debt conversion requires the underwriting of a bill to which neither President Bush or any congressperson has committed. The promoters of the Hispaniola Investment Fund did take advantage of the presence of Senator Hillary Clinton on vacation in the DR last week to urge the senator to take steps in this direction. Moreover, El Caribe points out that the political viability of the bill will depend on the international community agreeing that Haiti has a sufficiently democratic government. The newspaper points out that the bulk of foreign aid is on hold, and European and US governments would like to use this as a lever to promote a better political climate in Haiti. "Consequently, the possibility of the condoning of the debt of both countries will depend on progress towards democracy being made in Haiti. The ball is thus in the hands of the Haitian government and the Haitian opposition," explains El Caribe.
