In late March, the World Bank announced a three-year programme of financial support for Haiti totalling $479 million, which includes cancellation of its $39 million debt to the Bank. At an April conference donors set up a reconstruction fund which is to be fiscally managed by the Bank, despite NGOs stressing the need to coordinate reconstruction through Haiti’s government. Kim Ives of newspaper Haiti Liberté argues the proposed multi-donor trust fund means that the Haitian government will be “under the complete supervision of foreign ‘donors’. The World Bank distributes the reconstruction funds to projects it deems worthy.”
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
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