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Haiti Adjustment Report

Decent Essays
In the 1990s the Several International Financial Institutions like the world bank offered the small the Caribbean nation Haiti several developmental loans to the Haitian government to implement Structural Adjustment Programs(SAPS) to create economic stability, in hopes of integrating the island nation to the world economic stage. Instead, the island nation has been further entrenched into economic crisis even more so since the 1800s after gaining its independence from France and being forced to compensate its former colonial master with a repayment loan for the loss of its former slaves. This repayment loan would be one of the driving factors forcing Haiti into needing global assistance since the global powers at the time did not recognize…show more content…
The SAPS created increased taxes for the poor, decreased import tariffs, and external privatization of state enterprises. The loans undermined Haiti's agricultural livelihood, forcing farmers to try to compete with imports that with decreased tariffs. Another market that was affected that I can personally relate to was the poultry market. As a child of Haitian parents who both from farming families, I would hear stories of the economic turmoil with descriptions from my mother like “They killed our pigs” or “They took our farms.” These statements were given more context as I found out about the effects of globalization on Haiti. The “They” were the SAPS introduced that ruined my family trade and forced my family to migrate to the foreign nations that aided in the implementation of these policies. All of this hinders a nation's ability to grow long term. The nation must continue to borrow to maintain its infrastructure or be forced to privatize to corporations provided by the world…show more content…
I do not believe that it is possible for the World Bank to assist nations with fair loans since the government entity were the previous colonial masters to nations receiving these loans. This is also reinforced by the fact of few actual examples of these loan programs aiding bowering nations. Loan programs provided by the World Bank give predatory nations access to a countries internal economy and the ability to structure to that it benefits their global interests. The word predatory has been used several times in this paper to describe the World Bank but with the largest donors being countries like the United States, France, and Germany, where capitalism is the doctrine can that be disputed? How are to expect these countries to not to capitalize and further their financial interests when history and geopolitics show this to be the
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