The IMF imposed tight expenditure controls on the Haitian government

Using loans and the threat of default as levers, the IMF has pushed the Haitian government to accept its brand of free-market shock therapy: lowering trade barriers, raising interest rates, devaluating currencies, privatizing state-owned industries, eliminating subsidies and cutting health, education and welfare spending. After Haiti lifted its trade barriers under IMF pressure in 1986, for instance, an imported mountain of cheap American rice--subsidized by the U.S. government--buried the Haiti's rice industry. Today, IMF is taking $1.50 on every wire transfer to Haiti, and a 5-cent levy on every telephone minute go into a scam education fund to help Michel Martelly achieve his promise of free education in Haiti. How many kids will IMF and the Haitian government send to school in September?

Category:

News & Politics

Tags:

• Haiti

[darryjan]

HAITI IS NOT POOR PPL LIKE U FRENCH, USA put it in that position cuz more poverty the better it is for yall... N its bcuz ya came down there and take everything out of the country to better ya country... How do not expect it not to be where it at today...