Thursday, January 28, 2010

Activism Works: IMF Changes Haiti Loan to a Grant

As reported in my last post, the IMF was offering a loan to Haiti with strings attached, including such downers as raising the cost of electricity for Haitians. Now due to much international pressure, IMF is changing this to a grant. According to Naomi Klein's post:

In response to the wave of criticism, the IMF has just issued a statement saying that they will try to turn the $100-million loan to Haiti into a grant. This is unprecedented in my experience and shows that public pressure in moments of disaster can seriously subvert shock doctrine tactics. They are also now saying that they will not put conditions on the emergency loan--another popular victory, since this is not what they were saying last week. Of course people have to keep up the pressure to make sure Haiti's debts really are cancelled as the IMF is now predicting they will be. Something to hold them to!

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