By Andres Schipani
Shortly after the 2010 earthquake, Hugo Chávez, the late Venezuelan leader, said he would write off Haiti’s $395m debt for oil exports from his country and would continue to supply it on generous credit terms.
“Haiti has no debt with Venezuela, on the contrary, it is Venezuela that has a historic debt with Haiti,” he said. He cited Haiti’s support for Venezuela’s 19th-century revered independence hero, Simón Bolívar. Historical links between the two countries include Venezuela’s flag being designed and first raised in Haiti.
In 2010, oil prices were as high as Mr Chávez’s revolutionary fervour. Caracas could afford to supply Haiti’s energy needs by sending 14,000 barrels of fuel a day at favourable rates and lenient payment terms in return for political support. Now, oil prices have halved since the middle of last year and Venezuela’s economy is in recession, wrestling with galloping inflation and food ... Read More