Self-liberated slaves rebelled against French colonial rule in Saint-Domingue, now Haiti, in a war that lasted from 1791 to 1804, when the former colony won independence. In 1825, Haiti was forced to pay millions of francs to France in exchange for recognition of its sovereignty. It is estimated that Haiti was pushed to pay France as much as $21 billion barely two decades after winning its independence against all odds. Haiti’s independence was viewed as a threat by all slave-owning countries, the U.S. included, and its very existence rankled racist sensibilities globally. The bank controlled all payments made to and from the Haiti Treasury and forced the Haitian government to pay commissions on deposits and withdrawals.

Source: New York Times June 13, 2022 12:18 UTC