Haiti and the Loan that Wasn't

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Tayi
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Joined: Sun Sep 23, 2007 4:44 pm
Location: Madian, Petite Rivière de Nippes, Haiti
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Haiti and the Loan that Wasn't

Post by Tayi » Tue Feb 16, 2010 4:12 pm

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What happened was that, after the first coup d'etat and reinstatement of Aristide in late 1994, his term ended in 1996. There was then five years of René Préval (who is also President today). In 2000 Aristide once again won overwhelmingly in the Haitian elections. $146 million dollars of aid from the Inter-American Development Bank that had already been approved was held because, according to the United States, the election of eight Haitian senators were in dispute. There was no clear evidence of wrongdoing but all were asked to resign that year. Even after this took place the United States refused to release the loans. The reason then was because Haiti was behind in their interest payments on the loans they had yet to receive (which were normally paid out of the principle).

The Robert F. Kennedy Center filed a Freedom of Information Act Request in 2006 to force the US to release documents related to this decision. According to the documents (which can be accessed here) there was clear evidence that the United States blocked the loans because they objected to the election of Aristide.

Between 1996 and 1998 the IDB approved these loans and Haiti paid around $10 million in interest even before the loans were dispersed. By 2001 there was no reason for the IDB to continue blocking these loans.
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Get the full story here: http://scienceblogs.com/primatediaries/ ... _wasnt.php

Somebody please tell me this is not as insane as it sounds.

Tayi

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