Musings From Abroad

Haiti Prime Minister quits and what IMF has to do with it

The embattled prime minister of Haiti, Jack Guy Lafontant, has announced his resignation following days of violent protests sparked by a now-abandoned plan to raise fuel prices

Published

6 years ago

July 15, 2018

Africa News Watch

The embattled prime minister of Haiti, Jack Guy Lafontant, has announced his resignation following days of violent protests sparked by a now-abandoned plan to raise fuel prices.

The decision comes on the heels of attempts by Lafontant to implement an International Monetary Fund (IMF) programme in which Haiti had signed an agreement committing to carrying out economic and structural reforms to promote growth.

“I submitted my resignation to the president of the republic”, who has “accepted my resignation”, Lafontant said on Saturday in the lower house of Haiti’s legislature.

Lafontant had faced a potential vote of no confidence had he not stepped down.

The unrest started after the government unveiled an IMF-inspired proposal to eliminate fuel subsidies which in turn would have hiked fuel prices: 38 percent for gasoline, 47 percent for diesel and 51 percent for kerosene.

The announcement sparked mass protests, with streets in the capital, Port-au-Prince, and other cities blocked with barricades of debris and burning tires.

At least seven people were killed and dozens of businesses looted or destroyed during three days of demonstrations.

Lafontant, who took office in February 2017, later announced the plan would not go ahead, but protesters still demanded his resignation.

Al Jazeera’s Gabriel Elizondo, reporting from Port-au-Prince, said the parliament had been debating whether to give or not Lafontant a vote of confidence for more than three hours.

Following the prime minister’s resignation, Haiti was essentially left with no functioning government, added our correspondent.

Around 60 percent of Haiti’s population lives on less than $2 a day and are extremely vulnerable to increases in the price of goods and services.

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Musings From Abroad

Brazilian meatpacker JBS invests $2.5 billion in Nigeria, builds six facilities

Published

18 minutes ago

November 22, 2024

Ifeoluwa Dada

Brazilian meatpacker JBS says it has inked a memorandum of understanding with the Nigerian government for a $2.5 billion investment plan that will include the construction of six new plants in the African nation.

Three of the plants would deal in poultry, two in beef, and one in pork, according to a statement from JBS.

In accordance with the memorandum of understanding, JBS stated that it would develop a five-year investment plan in Nigeria, which would include budget estimates, feasibility studies, and an action plan for the development of the local supply chain.

The Nigerian government would then guarantee the sanitary, regulatory, and economic conditions required for the project’s viability, JBS continued.

Musings From Abroad

China’s Xi meets with Morocco’s Crown Prince

Published

30 minutes ago

November 22, 2024

Ifeoluwa Dada

Morocco’s official media reports that Chinese President, Xi Jinping, visited Morocco briefly on Thursday.

According to Morocco’s MAP, Crown Prince Moulay El Hassan welcomed Xi in Casablanca. The visit demonstrated the close ties of camaraderie, collaboration, and solidarity between the Moroccan and Chinese peoples, it said.

China’s official broadcaster, CCTV, said that Xi and Hassan had a “cordial conversation” at the airport after being received by the Crown Prince and Moroccan Prime Minister Aziz Akhannouch.

After attending the G20 Summit in Brazil, Xi paid the visit.

In recent years, China has increased its investments in Morocco’s rail and infrastructure. Morocco is desirable for Chinese electric car battery manufacturers because of its proximity to Europe, free trade agreements with important EU and US markets, and an established automotive sector.

Morocco was chosen by Chinese EV battery company Gotion High Tech in June to establish Africa’s first gigafactory, which will cost $1.3 billion in total.