How the US Coup in Venezuela Is Taking Root in Haiti and the Dominican Republic | WHAT REALLY HAPPENED


How the US Coup in Venezuela Is Taking Root in Haiti and the Dominican Republic

For more than a decade Venezuela has aided the governments of Haiti and the Dominican Republic through a preferential system known as Petrocaribe, and the people of those nations are not taking their governments’ support for the US coup in Venezuela lightly.<>
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For more than a decade Venezuela has aided the governments of Haiti and the Dominican Republic through a preferential system known as Petrocaribe, which provided subsidized crude oil prices to meet the countries critical energy demands. The Petrocaribe oil agreement, allowed for governments to pay only 60 percent of the oil shipments they purchase from Venezuela. The remaining 40 percent could be financed over 25 years at 1 percent interest, as long as oil prices stayed above $40 per barrel. This allowed for tremendous savings, and money that according to the agreement) was supposed to be used for socially beneficial purposes.

Countries such as Nicaragua, Jamaica, Cuba, and many islands in the eastern Caribbean have successfully utilized Petrocaribe funds and other Venezuelan support mechanisms, investing in vital infrastructure, education, healthcare, and have used the funding to avoid austerity deals with the IMF and other international financial institutions. Corrupt politicians in Hispaniola, though, whose regimes are closely aligned with Washington, have by contrast become well-known for robbing many of the funds meant for the social needs of their population.

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