The International Monetary Fund (IMF) and the World Bank have forgiven two thirds of Haiti's debt. Instead of servicing a debilitating debt that grew to 1.7 billion dollars, Haiti will now owe the IMF and the World Bank 500 million dollars. This is great news for Haiti as money that was previously used to service the debt can now be used to improve infrastructure and provide social services, health care, and education. Hopefully the IMF and World Bank will forgive all of Haiti's debt, and help the country to emerge out of poverty.