JULIET PORTILLO
Haiti has dutifully followed the prescriptions of the IMF and the world bank yet today Haiti remains the poorest country in the Western Hemisphere. Approximately 70 percent of Haitians are unemployed. The country suffers from one of the worst life expectancy rates in the world. The IMF policy mandates that Haiti increase its exports which they did and have been successful. Success came with a price. In an effort to attract foreign investment at whatever cost Haiti was forced to keep wages at poverty levels. By cutting assistance to small farmers the agricultural sector was ruined. Haiti relied on food imports and lacked food security. A lot of programs initiated by the institutions failed to help Haiti. Debt servicing left no room for development. To date they are still suffering.
Reference:
Global Exchange
September 2001
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