The biggest problem of all

Max Johnson Fgb - June 15 2007, 4:03 PM

Haiti's biggest problem can be summarized in one word:money.

Money unfortunately is what makes the world turn and we have no money at all. But what is money?

Money isn't something that you are born with. For some people, money comes naturally.

It takes sometime hard work, ingenuity and intuition to create money.

As a nation, to get out of our situation, we have to create wealth.

Wealth can be created either by the government or the private sector.

For the private sector to create wealth, it needs access to money in the form of loans.

We notice that, in Haiti, credit is only accessible to only a few people.

Access to credit should be universal;the government should encourage first the creation of credit monitoring bureaus like Experian.

For the government to create wealth, it needs to raise money.

A lot of money.

How can the government do it?

The government needs to borrow money to make money.

It needs to issue government bonds.

Since the Haitian government credit rating might be pretty low, I would suggest that the Haitian government associates itself with a reputable Wall Street financial institution like Morgan Stanley Dean Witter.

Haitians and other people all over the world would be able to invest in those bonds to help develop the country.

The money raised could be invested for example in building resorts for tourists all over the country.

These resorts and hotels would generate money to repay those bonds at maturity.

A perfect example of the application of the Haitian proverb " graisse cochon an ki cuite cochon an".

God bless.

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