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Context of 'December 30, 1986: IMF Announces $24.6 Million Loan for Haiti'

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The IMF grants Haiti a $24.6 million loan under its Structural Adjustment Facility (SAF). As a condition, Haiti is expected to cut public spending, close “inefficient public enterprises”, and liberalize its trade policy. [Inter Press Service, 12/30/1986]

Entity Tags: International Monetary Fund

Timeline Tags: Neoliberalism and Globalization

One of the conditions for Haiti obtaining the IMF loan it previously received (see December 30, 1986) was a lowering of tariffs on rice and an end to support for domestic rice farmers. This has the effect of putting much of Haiti’s rice farmers out of business. [Washington Post, 4/13/2000; Global Exchange, 9/2001, pp. 13 pdf file]

Entity Tags: International Monetary Fund

Timeline Tags: Neoliberalism and Globalization

During the World Bank’s annual meeting, the Bank and the International Monetary Fund (IMF) pressure Haiti to sign a letter of intent assuring the US, IMF, and other donors that Haiti would proceed with the Structural Adjustment Program that President Aristide had agreed to in August 1994 (see August 1994) before he was restored to power by a US-led multinational force. Haiti, whose parliament and population are strongly opposed to the neoliberal reforms, refuses to sign the letter. [Multinational Monitor, 11/2004]

Entity Tags: World Bank, International Monetary Fund, Smarck Michel, Jean-Bertrand Aristide

Timeline Tags: Haiti Coup

The International Monetary Fund (IMF) approves a $2.1 billion loan for Iceland, whose economy has been devastated by the global financial crisis. Iceland becomes the first Western European nation to get an IMF loan since Britain in 1976. [BBC, 2/2/2009]

Entity Tags: International Monetary Fund

Timeline Tags: Global Economic Crises

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