The Obama administration says it is near an agreement with other nations to cancel the $447 million that Haiti owes to the Inter-American Development Bank.
Treasury Department officials said Thursday that a deal would likely be struck this weekend to cancel Haiti's debt to the bank, which serves as a major source of development loans for Latin America and the Caribbean.
Two senior Treasury officials briefed reporters in advance of the annual meetings of the bank which will begin Friday in Cancun, Mexico. They spoke on condition of anonymity because the meetings have yet to occur.
© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.