Socialist Worker

IMF forces Haiti into debt slavery

Issue No. 2185

Two days after the earthquake struck, the International Monetary Fund (IMF) helped to plunge Haiti even deeper into debt slavery.

Its aid to Haiti came in the form of a £62 million loan – not a donation.

This is in addition to the £101 million Haiti already owes the IMF.

In return the IMF is demanding that the government increases the price of electricity, freezes pay and keeps inflation down.

The crisis has been used to drive through neoliberal “reforms” in a nation already on its knees.

Haiti owes a total of £546 million.

In 2003 it spent £35 million servicing foreign debt in return for only £24 million in assistance – paying back more than it received.

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