For more than a decade Venezuela has aided the governments of Haiti and the Dominican Republic through a preferential system known as Petrocaribe, which provided subsidized crude oil prices to meet the countries critical energy demands. The Petrocaribe oil agreement, allowed for governments to pay only 60 percent of the oil shipments they purchase from Venezuela. The remaining 40 percent could be financed over 25 years at 1 percent interest, as long as oil prices stayed above $40 per barrel. This allowed for tremendous savings, and money that (according to the agreement) was supposed to be used for socially beneficial purposes.
Countries such as Nicaragua, Jamaica, Cuba, and many islands in the eastern Caribbean have successfully utilized Petrocaribe funds and other Venezuelan support mechanisms, investing in vital infrastructure, education, healthcare, and have used the funding to avoid austerity deals with the IMF and other international financial institutions. Corrupt politicians in Hispaniola, though, whose regimes are closely aligned with Washington, have by contrast become well-known for robbing many of the funds meant for the social needs of their population.
For this reason, the date of January 10, 2019, will go down in the historical memory of the Dominican and Haitian peoples, as an ignominious reminder of the historically aberrant role of the Organization of American States (OAS), when that body was used as a front by neo-conservative policymakers in Washington. It was on that date that the governments of Haiti and the Dominican Republic voted to no longer recognize Venezuela’s legitimately elected president….