The Haitian debt is one of the most extraordinary episodes in the history of colonialism and one of the least discussed in contemporary reparations debates.
When Haiti declared independence in 1804 after the only successful slave revolt in history, France refused to recognise the new nation. French warships threatened Haiti’s coast. In 1825, under this military pressure, Haiti’s government agreed to pay France 150 million francs as compensation for the losses suffered by French colonists, including the monetary value of the enslaved people who had liberated themselves.
This was reparations paid by the formerly enslaved to the former slavers. Haiti was paying France for the loss of its own people as property. The sum was enormous, representing multiple times Haiti’s annual revenue. To pay it, Haiti took out loans from French banks at high interest rates. The debt and its service consumed a significant portion of Haitian government revenue for over a century. The final payment was made in 1947.
The economic consequences for Haiti were devastating. Resources that could have gone into building schools, infrastructure, and institutions were instead transferred to France. The debt is a significant factor in explaining Haiti’s persistent underdevelopment relative to comparable Caribbean nations.
