| Submit your comments on this article |
| Caribbean-Latin America |
| Haiti owes Venezuela $2 billion -- and much of it was embezzled, Senate report says |
| 2017-11-17 |
| [MIAMIHERALD] A special Haitian Senate commission is accusing more than a dozen former government officials and heads of private firms of embezzling $2 billion in Venezuelan oil loans ‐ money that could have helped the country rebuild after its devastating earthquake in 2010. An anti-corruption investigation concluded that charges should be filed against two former prime ministers, several ex-ministers and the owners of private firms on grounds they misappropriated and embezzled money that left post-quake Haiti with unfinished government buildings, poorly constructed housing and overpriced public works contracts. The nearly $2 billion that was paid out came from the country’s Venezuelan oil largess, known as PetroCaribe. It provides Haiti and several other cash-strapped Caribbean countries with subsidized oil on favorable financing terms. The debt is stretched over a 25-year period with a 1 percent interest rate and a two- to three-year grace period allowing the countries to use the savings to finance social and economic projects. "It can be declared that the PETROCARIBE has been the object of embezzlement, embezzlement, embezzlement and prevarication on the part of those indexed in this report," the commission’s report concluded. |
| Posted by:Fred |
| #3 Exxon owes Chad something like $700 Billion dollars. What is that about? >< |
| Posted by: newc 2017-11-17 22:37 |
| #2 "Unexpectedly!" Say it ain't so, they are supposed to be honorable people with Haiti's best interest in mind! /sarc |
| Posted by: Seeking cure for ignorance 2017-11-17 10:33 |
| #1 And then there is the $12-$14 billion shortfall due to the Clinton Foundation. |
| Posted by: JohnQC 2017-11-17 10:28 |