The World Bank\’s special envoy to Haiti voiced concern on Wednesday about how the government was using public funds generated by cut-rate Venezuelan petroleum imports, saying a lack of transparency was the biggest obstacle to the country\’s economic development.
The surprising public criticism of the government\’s handling of its finances came at a press luncheon in the capital. The director of the World Bank\’s office in Haiti, Mary Barton-Dock, cited Venezuela\’s Petrocaribe program, which allows beneficiaries to buy fuel from the oil-rich South American nation at favorable rates and easy payment plans.
Under Petrocaribe, Haiti pays only 40 percent of the oil bills in the short term, while the rest are reimbursed over a 25-year period during which the government is free to spend the funds more or less as it pleases. via | Reuters