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Haiti's Lost Billions

edited May 2022 in Off-Topic
Good infographic piece from the NYT on how Haiti's current economic and infrastructure problems connect to the terrible legacy of French and American colonialism:
https://nytimes.com/interactive/2022/05/20/world/americas/enslaved-haiti-debt-timeline.html?smid=tw-nytimes&smtyp=cur

Comments

  • edited May 2022
    Yes, I've been reading that in the NY Times. It's an unusual and interesting perspective. While I can easily believe that the "reparations" background has historically drained a huge financial potential from Haiti, I have to tell you that I also have grave reservations about the ability and willingness of those who have administered Haiti, in the past and especially now, to effectively and honestly run the place.
  • +1. OJ.
  • edited May 2022
    Unfortunately, France has exploited its former African colonies long after they achieved independence. The currency these countries use is le franc communautaire financière africaine (FCFA), but it is the French central bank that controls monetary policy. Around 1960, the forerunner of the present currency was established to provide a mechanism to compensate former French colonists for their « losses, » much like the former slaves in Haiti were obliged to purchase their freedom.
  • Yes-it looks the FCFA is pegged to the Euro-thanks for this information that I was unaware of previously !
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