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iciHaiti - Economy : The State paid less than 30% of its debts to the oil companies
25/08/2019 09:02:45

iciHaiti - Economy : The State paid less than 30% of its debts to the oil companies
The oil companies have received a partial subsidy repayment from the Government equivalent to about a month of subsidy, less than 30% of the State debt, which seriously affects the cash flow of the oil companies, which must advance the amount of this subsidy and sell at a loss before being reimbursed.

The companies informs that in order to avoid a break in supply at the pump, rationing will be maintained until the arrival of new fuel ships.

According to our information the companies were forced to reduce the volume of their orders faults of sufficient cash and the supply to the pump will depend in the coming weeks on the ability of the Government to repay the companies.

The companies warn that if nothing is done to revise prices at the pump and gradually eliminate this subsidy, the supply disruption could be total in the coming weeks...

See also :
https://www.haitilibre.com/en/news-28394-haiti-economy-the-government-owes-more-than-5-billion-gourdes-to-the-oil-companies.html
https://www.haitilibre.com/en/news-27869-haiti-economy-the-government-is-no-longer-able-to-pay-its-debts-to-oil-companies.html
https://www.haitilibre.com/en/news-27779-haiti-flash-imports-of-petroleum-products-new-endangered-in-the-country.html

TB/ iciHaiti

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