Over the last seven years, Martelly and Moïse let Haiti’s payments for Venezuelan petroleum fall into arrears, and Haiti now reportedly owes over $2 billion in addition to the $1.7 billion withdrawn from the PetroCaribe fund. In 2010, Venezuela forgave some $295 million that Haiti owed it. That represented about a quarter of Haiti’s total $1.25 billion foreign debt. In November 2017, Venezuela allowed Haiti to use $82 million of the debt it owes Venezuela for social projects in Haiti. In return, Haiti is to reimburse Venezuela with food products.
So during the five years from 2006 to 2010, we saw President Préval sign and begin a very promising oil and development program in conjunction with Venezuela. But from 2011 to 2018, we’ve seen Washington hijack the Haiti state, using two subservient administrations to plunder the PetroCaribe Fund and create the political and economic crisis Haiti faces today.
From Jul. 6-8, 2018, tens of thousands of Haitians took to the streets of Haiti, burning stores and stopping all activity, because the International Monetary Fund (IMF), Washington’s sheriff for neo-colonial finances, had ordered the Moïse government to slash oil price subsidies, drastically hiking fuel prices, up to 51% in the case of kerosene.