Economy of Haiti of limited infrastructure and a lack of security. In 2005, Haiti paid its arrears to the World Bank, paving the way for reengagement with the Bank. Haiti received debt forgiveness for over $1 billion through the Highly-Indebted Poor Country initiative in mid-2009. The remainder of its outstanding external debt was cancelled by donor countries following the 2010 earthquake but has since risen to over $600 million. The government relies on formal international economic assistance for fiscal sustainability, with over half of its annual budget coming from outside sources. The Michel Martelly administration in 2011 launched a campaign aimed at drawing
James Michel and Risk & Disaster Management. Seychelles' opposition leader, Wavel Ramkalawan, expressed increased concern over the declining trends in the national economy and demanded more dialogue with the ruling party. The leader of the Seychelles National Party furthermore said that he would be cooperating with President Michel. Michel won the presidential election held on 28–30 July 2006, taking 53.7% of the vote. He was sworn in for his new term on 1 August 2006. Michel won re-election in May 2011, receiving 55.4% of the vote. He was sworn in for his new term of office on 22 May 2011. In early