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Independence debt

The nascent state's future was hobbled in 1825 when France under Charles X forced it (with French warships anchored off the coast during the negotiations) to pay 150 million gold francs in reparations to French ex-slaveholders—as a condition of French political recognition and to end the newly formed state's political and economic isolation. By an order of 17 April 1825, the King of France renounced his rights of sovereignty over Santo Domingo, and recognized the independence of Haiti. President Jean-Pierre Boyer believed that the constant threat of a French invasion was stymieing the Haitian economy and thus felt the need to settle the matter once and for all.

Though the amount of the reparations was reduced to 90 million francs in 1838, Haiti was unable to finish paying off its debt until 1947. The indemnity bankrupted the Haitian treasury and left the country's government deeply impoverished, causing long-term instability. Haiti was therefore forced to take out a loan from French banks, who provided the funds for the large first installment, severely affecting Haiti's ability to prosper.