Haiti - FLASH : Haiti pays a debt of USD $500 to Venezuela linked to the PetroCaribe Program

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Haiti - FLASH : Haiti pays a debt of USD $500 to Venezuela linked to the PetroCaribe Program
24/02/2024 10:01:23

Friday February 23, 2024, Freddy Náñez, Vice President of Communications of the Venezuelan Government, reported with satisfaction the completion of the process of recovering a debt amountin to 500 million dollars paid by Haiti, coming from the provision of fuel to this country as part of the Petrocaribe energy cooperation agreement, debt which was considered irrecoverable by international financial agencies...

Let's remember that the program of the late President Hugo Chávez, which operated from 2008 to 2018, offered advantageous price and payment conditions to Latin American and Caribbean countries.

The payment of these 500 million dollars by Haiti to Venezuela comes in a context of relief from Washington's sanctions against Caracas in exchange for progress on the democratic level. Venezuela, since last year, has been selling oil, gas and gold. Exchanges of Venezuelan sovereign debt and bonds are once again authorized.

President Nicolas Maduro has said he wants to revive the agreement. PetroCaribe

All you need to know about the impact of the PetroCaribe program in Haiti (PDF 230 pages in French...) https://www.haitilibre.com/docs/GZS_13183_Bilan_PetroCaribe_2015-02-23.pdf

Learn more about the PetroCaribe agreement :
The PetroCaribe agreement was signed between Haiti and the Venezuelan government on May 14, 2006. As part of this agreement, the Haitian State benefits from payment facilities from Venezuela.
for the purchase of gasoline, diesel, kerosene, fuel oil and asphalt. Part of the amount invoiced for the purchase of petroleum products is paid "cash" while the balance is payable over 25 years, including 2 years of grace with 1% annual interest. It is this amount that is used to finance hundreds of investment projects across all departments in Haiti.

SL/ HaitiLibre