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  • Writer's pictureFrantz Alcema,

Haiti court accuses officials of mismanaging $2 billion in aid

Haiti's High Court of Auditors released a report Monday slamming the fraudulent and often illegal management by various ministers and administrations of nearly $2 billion in aid from Venezuela between 2008 and 2016.

The more than 1,000-page-long report details projects undertaken without a needs assessment or even a cost estimate.

"The investment projects and contracts related to the PetroCaribe fund were not managed in accordance with the principles of efficiency and economy," the court concluded in the report.

Set up at the initiative of former president Hugo Chavez, the PetroCaribe program allows multiple Latin American and Caribbean countries to benefit from Venezuelan loans under a system of preferential oil delivery.

With no accountability to Venezuela, the six successive Haitian administrations since 2008 have spent $2 billion on projects, for the most part without concern for basic public funds management, the report said.

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