Chip Krakoff's  Instablog

Chip Krakoff
Send Message
Charles (Chip) Krakoff is publisher and principal author of the Emerging Markets Outlook blog, as well as founder and Managing Partner of Koios Associates LLC, a firm specialized in investment and trade, in emerging and frontier markets. He has over 25 years of corporate, financial, consulting,... More
My company:
Koios Associates LLC
My blog:
Emerging Markets Outlook
  • Please Help Haiti 1 comment
    Jan 14, 2010 3:09 PM

    Even before Tuesday’s earthquake Haiti had experienced 200 years of some of the worst luck that can befall a nation. Once France’s richest colony, it was a slave economy built on sugar, coffee, and the misery of African slaves, who finally revolted, saw off an invasion of 30,000 of Napoleon’s troops, and declared independence in 1804. France conceded defeat, but only at the price of 150 million francs in gold in “reparations” for its lost property, a sum it took the Haitians until 1947 to pay off, sometimes at a cost of 80% of the country’s annual budget. It has suffered 18 years of occupation by the U.S. Marines, AIDS, the brutal Duvalier regime, rampant deforestation, years of political turbulence and violence, U.S. economic sanctions that all but destroyed its small industrial base, and Ethiopian levels of poverty, disease and hunger.

    Even amidst all of these tribulations, Haiti and its people retained the capacity to inspire and delight with their music, art, and their sense of humor and fun and joy.

    And now this. Estimates of the death toll have already surpassed 100,000, but with tens of thousands of people still missing, it is sure to rise further, potentially rivaling the December 2004 tsunami, which claimed over 200,000 lives. But that was spread out over a dozen countries with an aggregate population of over 1.5 billion, while Haiti has only 9 million people.

    I visited Haiti in early April of last year and it was a hopeful time. The security situation had improved and some semblance of political stability had returned. Under generous market access preferences granted Haiti by the U.S. government garment exports were booming and investors – especially from East Asia – were clamoring for land to build new garment factories.  The major donor countries held a conference later that month, hosted by the Inter-American Development Bank in Washington with strong backing from former President Bill Clinton and his foundation, from which emerged a unified and substantial commitment to assist Haiti in ways that seemed to make sense.

    All that is gone now, and efforts over the next months and probably years will be focused on trying to restore Haiti to what it was at the beginning of this week, never mind transforming it into something better. So far I have heard from some people I know, who mercifully are safe, but there remain others, some of them good friends, of whom I have no news.

    Many of us are tempted to get on a plane, get down there, and pitch in, but the truth is we’d only get in the way of the professionals who know what they are doing. The Red Cross tell us that they are not accepting volunteers to go to Haiti, and unless you have specialist medical or technical skills all you can do is give money. Please do. My two preferences are Mercy Corps and the Red Cross.  In the U.S., you can make an instant $10 donation to the Red Cross Haiti effort by texting “Haiti” to 90999, or you can give more by clicking here. Or give to another charity or relief organization of your choosing.

    Disclosure: none
Back To Chip Krakoff's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (1)
Track new comments
    , contributor
    Comments (203) | Send Message
    Y'all must have compassion for Haitians and their plight. Like Mexican's used to say: so close to the US, so far from God. The history of Haiti and the original slave rebellion is best portrayed in the 1964 movie "Burn" with Marlon Brando who advances the ideas of freedom and rebellion only to take over for the Brits in their various campaigns against the French. Haiti throughout its history has been a political football and for most of the 20th century and now into the 21st, a political flogging boy for the US. I'm glad former president Clinton is asking for donations, but perhaps he alone was responsible for the US Marines escorting Baby Doc to a waiting US warship--along with Haiti's national treasure in Gold. A sad story.
    14 Jan 2010, 06:50 PM Reply Like
Full index of posts »
Latest Followers

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.