Economy

World Bank envoy criticizes lack of transparency in Haiti oil program | Reuters


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

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1 reply »

  1. Look who is talking? The World Bank criticize a lack of transparency in the Haiti’s handling of PetroCarib funds. Dont the World Bank realize that : ” one shouldn’t talk about rope in the hanged man’s house? ” How much do we know about the World Bank money it claims it has spent in Haiti for which we haven yet to see any result at all? Our addvice for the World Bank is that it should ” Look at the big piece of wood in its own eyes before taking about the little splinter in other people’s eyes” . Come on…
    Regulus

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