Haitian Prime Minister Jack Guy Lafontant Resigns

July 16, 2018 12:00 PM

[Sharingbuttons]Haitians staged a massive violent protest because of an increase in fuel price. There was a call for a vote of no confidence during the riots and then his resignation was accepted by President Jovenel Moise.

The protests started after the government unveiled a plan to remove fuel subsidies, there was looting and burning of businesses and approximately 4 persons were killed.

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If the fuel increase had been carried out the price of kerosene would be 51% higher, petrol 38% and diesel 47%.
The IMF thinks it is a good idea for them to get rid of fuel subsidies so they can spend on education, job creation and other things that will grow their economy.

However, the protests have caused them to rethink the approach. They are now suggesting that there should be a gradual increase in the fuel price and as they increase spending on the things that will cause economic growth.


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