More on Haiti

A dumbfoundingly uncritical report on the RTÉ website of the IMF’s magnanimous loan (!) to Haiti.

The International Monetary Fund will disburse $114 million to Haiti by Friday to help the government get back on its feet and restart the economy devastated by the earthquake.

The loan includes $102 million in new emergency funding approved by the IMF’s board on Wednesday.

This country has just been through the equivalent of a localised nuclear apocalypse, greatly exacerbated by the IMF’s systematic dismantling of its economy and public services, and they’re offering them the pittance of $114 million? It gets worse.

The IMF said Haiti will not pay interest on its IMF loans until the end of 2011, part of a package of measures agreed last year to help poor countries cope with the impact of the global financial crisis.

Before the earthquake, Hait was among the most wretched economic basket-cases in the world. Since then, things have got immeasurably worse. By 2011, the deterioration will have become exponential. And the fact that Haiti will be obliged to resume paying its tithes to the imperial court at that point is being presented as a gracious act of humanitarianism.

Some $1.2 billion of Haiti’s debts to the IMF and World Bank were written off in July last year as a reward by the international community for progress the country was making in economic reforms and management.

I leave to your individual discretion whether to laugh or cry at that para.

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2 Responses to “More on Haiti”

  1. Cass Flower Says:

    Yes, I read this on the IMF site. They had the gall to describe it as “Aid”.

  2. WorldbyStorm Says:

    Abysmal, it really is.

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