Haiti Give the IMF A Fresh Lesson in the Value of Subsidies for the Poor
At the insistence of the International Monetary Fund (IMF), the Haitian government had agreed to cut government subsidies on fuel which would have caused prices to increase by over half. Life is expensive enough in Haiti due to a lack of economic growth and dependency on imports. To reduce subsidies would have made life even costly when many struggle just to get by. The situation was very tense but has since calmed. Still, the IMF has yet again hurt Haiti by failing to promote policies that are pro-poor. The full article by Time journalist Billy Perrigo follows.
