1825: France Recognizes Haiti in Return for Massive Compensation

Haiti is forced to pay 150 million gold francs to France to “compensate” French plantation slave-owners for their “financial losses.” The amount demanded by the French represents more than twice the value of the entire country’s net worth. In exchange, France agrees to recognize Haiti’s independence. Years later, the amount is reduced to 90 million gold francs, however it will take Haiti close to 100 years to pay off this debt and only with the help of high interest loans to French banks. [Rogozinski, 1992; Newsday, 12/3/2003; Miami Herald, 12/18/2003; Boston Globe, 1/4/2004]