Haiti Clears Debt to Venezuela Under Petro Caribe Program

After years of speculation and tension, Haiti’s debt to Venezuela under the controversial Petro Caribe program came to an end last week. Haiti made a significant payment of $500 million to the Venezuelan government, thereby resolving a $3.2 billion debt. This action follows intense negotiations between the two nations, shedding light on the political and financial stakes surrounding this regional aid initiative.

According to a government source, Venezuela demanded this payment to nullify Haiti’s accumulated debt over the years. Representatives from the Haitian government, including a minister and a Central Bank authority, reportedly traveled to Venezuela to finalize this historic transaction. With this settlement, Haiti is now relieved of any financial obligations to Venezuela under Petro Caribe.

However, this financial resolution raises new questions about the Petro Caribe program itself. Since its inception, the program has been mired in controversy, with allegations of corruption and misappropriation of funds. Petro Caribe funds, intended for development projects in Haiti, have allegedly been subject to numerous diversions, with several Haitian political figures facing accusations of financial misconduct.