"Petrocaribe is an oil alliance of many Caribbean states with Venezuela to purchase oil on conditions of preferential payment. In 2013, Petrocaribe agreed to go beyond oil and promote economic cooperation.
The agreement was initiated with the aim of having solidarity with other countries. The payment system allows for purchase of oil at market value for 5-50% up front with a grace period of one or two years; the remainder can be paid through 17-25 year financing agreement with 1% interest if oil prices are above US$40 per barrel.
This alliance holds 17 members and Haiti happens to be one of them."
I usually hate using Wikipedia as a source but it was the only website with the information I needed that was easy to understand.
Even with this information, it's hard to understand what all the fuss is about so let me try to explain the situation in my words.
Basically, it's an agreement between Haiti and Venezuela. The country of Venezuela lends us oil and we are required to sell it. When i say "We", I mean the state. The oil lent goes through an institution called B.M.P.A.D (It's an office required to help with Haiti's development), this office then sells the oil to Haitian oil distributors (private companies). These distributors must pay B.M.P.A.D within 30 days and the method of payment is cash.
"Kot Kob PetwoKaribe A?"
"Where did the PetroCaribe Money Go?"
Many factors can dictate the amount of money that needs to be paid back, factors like gaz prices internationally, will determine how much money Haiti owes. A small percentage is required to be paid upfront (cash again) and the remainder can be paid within the next 25 years with an interest rate of 1%.
Just FYI, Venezuela lends the gaz for a certain price however, Haiti is not obligated to sell it for the exact same amount. The state can sell it for a lot more and the profit made can be invested in Health Care, Education, Jobs and so on. I say it like it's an option when it's actually part of our treaty with Venezuela. They lend us oil at a very small price so we can make profits and use these funds to better our infrastructures. These services are inexistant in the country so I'm guessing there must be more important things being taken care of. The question is... what is MORE important than EDUCATION, HEALTH CARE and JOBS?
Until March 2018, Haiti owed Venezuela US$ 1 BILLION, in other words it's like every single Haitian in the country should pay US$ 180 in order to erase that debt.
Now this is where the story gets interesting, someone started the #PetroCaribeChallenge on Twitter because people were asking where the hell did that money go? Artists and Public Figures are participating and I just wish more people my age would get involved. This is a very important cause, money has been disappearing for years and now it needs to stop.
The challenge consists of taking a picture of yourself holding a sign that says "Kot kob Petro Caribe a?" it's only right for the public to DEMAND answers. This needs to be a bigger movement in my opinion, and I hope more people will participate.
We need answers.
Where is that money?
Why do we owe so much?
If the money was stolen, who will have to take responsibility?
I know the #PetroCaribeChallenge is putting a lot of pressure on some people and it's good. This challenge is the first peaceful protest I've had the chance to witness and I'm proud. It shows a little bit of progress since the last time Haitians protested for something. Today, citizens are asking questions and being more civilized.
My friends and I decided to do the #PetroCaribeChallenge because we want to know "Kot Kob PetwoKaribe A?"
I encourage You All to participate until we get a decent explanation to what truly happened and what are the steps being placed in order to fix this problem.
I thank you all for reading this article, I hope I was able to help you guys understand this situation better.
This was "Te'm Ba'w On Nouvel",
"Kot Kob PetwoKaribe A" edition, written by Tiff.
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