July 5, 2015
Charles Castel, Governor, Bank of the Republic of Haiti, has effectively taken $500,000,000 from the Haitian people, making their cost of living even more unbearable.
With the illegal stroke-of-a-pen Castel effectively devalued the Haitian Gourde against the Dominican Peso! If you were paying 10 gourdes for something, in the DR, last week you will now pay 15 gourdes.
Of course, this is not a one-way street. Haitians, selling their products to the DR, will now get 33% less because of the Castel/BRH crime.
Castel has effectively created an instant inflation of something like 33% which is some sort of a record. With the instability and distrust, created by this action, we will see a much more devastating rate of inflation, than that created by Castel’s crime.
This is not his first major crime. Preval could not have looted Petro Caribe Funds without Castel’s complicity.
When Martelly became president, many pressed for Castel’s replacement, so that the Petro Caribe $198,000,000 in missing funds could be pursued.
Max Bellerive, Martelly’s cousin, and Preval’s Prime Minister, along with his role in the Dominican Secret Service (over 20 years) convinced Martelly that Castel should be retained in place.
Cash was paid and Martelly agreed.
The Petro Caribe question remains unanswered.
Then 56 year old Guiteau Toussaint who was the current President of the Board of Directors for Haiti National Bank of Credit ( Banque Nationale de Crédit (BNC), was assassinated Sunday June 11, 2011 even as he was about to blow the whistle on Castel’s actions.
Fingers were pointed, but no concrete action was taken.
The Central Bank, in any country, is supposed to regulate the system, and is not supposed to be an active participant in commercial dealings.
However, with Castel, this is not the case. When Bernie Madoff’s Ponzi Game collapse, taking billions, and billions with it, we discovered that the BRH had invested, and lost with the Madoff scheme.
And Castel wasn’t fired?!
Here is something to think of: “Since the earthquake, “Dominican exports to Haitian have grown considerably,” wrote Magdalena Lizardo of the Dominican Republic’s Ministry of Economy, Planning and Development. According to Lizardo, exports grew from 647.3 million U.S. dollars in 2009 to 869.23 million in 2010 to 1.018 billion U.S. dollars in 2011. In 2014 it amounts to something close to $1.5 billion U.S. dollars….”
In return for a substantial personal fortune, provided by the Dominican Republic, Charles Castel, Governor of the BRH, has given away our future, and that of our children.