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Haiti News Media > Haiti News > Debt Of Independence - Haiti History Debt Of Independence, Indemnity Imposed By France, Haiti History, Payment To France Debt Of Independence
In fear of invasion by the French, lack of recognition from the international community, and the threat of the French reinstatement of slavery, Haitian officials signed on to France's demand for a venal indemnity fee. The indemnity would be paid in recognition of Haitiās independence, but would prove to be a tyrannical mechanism that evidently eroded the health of the economy, not mention the well-being of a slave nation. Thus, King Charles X agreed to be paid 150 million francs and consented to the reduction of import and export taxes. The indemnity imposed by France's colonial oppression (150 million francs), is equal to half a billion US dollars by the most conservative estimate, without attempting to calculate the interest and inflation.
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