After Haiti won independence in 1804 as the first Black republic, France imposed a punitive debt of 150 million francs (later reduced to 90 million) in 1825, forcing Haiti to borrow from French banks at crushing interest rates; this debt, paid over 122 years until 1947, crippled Haiti's economy and transformed it from the world's richest colony into the poorest nation in the Western Hemisphere, demonstrating how colonial powers used financial punishment to maintain control over newly independent nations.
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Haitian Revolution and the massive debt later imposed on Haiti by France after Haiti won independencAdded:
1791, [music] Saint Domingue, France's richest colony.
Sugar, coffee, gold.
500,000 enslaved Africans [music] worked to death. August 1791, the drums start. Plantations burn.
Masters flee.
The slaves rise.
France sends armies. [music] Defeated.
Spain invades.
Defeated. [music] Britain sends 60,000 troops.
Yellow fever kills them.
A former slave rises, [music] Toussaint Louverture, trains slaves into soldiers, defeats Europe's [music] best.
Napoleon panics. Sends 30,000 troops.
They capture Toussaint [music] through deception, ship him to France. He dies in a frozen prison, [music] but the rebellion doesn't stop. 1804, Haiti wins. First black republic. First [music] nation built by freed slaves.
France's response? Punishment. 1825, [music] French warships arrive. "Pay 150 million francs for freeing yourselves, or we re-enslave you." Haiti agrees.
[music] 21 billion dollars in today's money.
Borrowed from French banks at crushing rates. They pay for 122 [music] years. Final payment? 1947.
But here's what lasts. The debt destroyed them. Haiti, once the richest colony, becomes the poorest [music] nation in the Western Hemisphere. 70% live on $2 a day. Schools crumble.
Hospitals lack supplies. 2010, [music] earthquake kills 230,000.
Infrastructure [music] too weak to rebuild. 2011, president assassinated.
Gangs control 80% of the capital. All because they freed themselves [music] in 1804, France refuses to return the money. The revolution that beat three empires, [music] the debt that punished 200 years of Haitians, the bill they're still paying [music] today.
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