“PetroCaribe fuel huge protests in Haiti”, 26^th June 2019

…For over four months, people in Haiti have been protesting to demand that President Jovenel Moïse must resign amid allegations he embezzled hundreds of thousands of dollars of government funds designated for severely needed social programs…Under PetroCaribe, a vital oil alliance contracted with nearby Venezuela in 2006, Haiti, the most impoverished nation in the Americas, saved valuable dollars by borrowing fuel from its oil-rich neighbour and delaying payment for up to 25 years. Governments were deemed to use additional funds to strengthen the economy and finance social programs. Alternatively, at least $2 billion (equivalent to almost a quarter of Haiti’s entire economy for 2017) went unaccounted for and Haitians saw few of the assured perks, according to demonstrators and local reporters. Haitian taxpayers still owe Venezuela billions of dollars for the borrowed oil…Because the money wasn’t from a conventional international aid package, analysts say there was little oversight of how governments used the profits and few restrictions on what they could do with it, giving an abundant chance for corruption…Haiti is listed 161 of 180 countries on watchdog group Transparency International’s annual Corruption Perceptions index and questions have also been asked about the disappearance of approximately $13 billion in international funding given to the country after its 2010 earthquake…