The CIC and Haiti (1875–1910)
Stoskopf, Nicolas
The CIC and Haiti (1875–1910) - 2023.
66
According to an article published in the New York Times in May 2022, the French bank Crédit Industriel et Commercial (CIC) allegedly made tremendous profits from Haiti in the nineteenth century through a whirlwind of debt and through its offshoot, the Banque Nationale d’Haïti (BNH). Faced with this indictment, certain facts need to be set straight. The CIC did not sign any of the four loan contracts issued by Haiti on the French market in the nineteenth century. Although the CIC was responsible for issuing the 1875 loan, it was eventually canceled by its competitor the Crédit général français. As for the BNH, created in 1881 by the CIC in partnership with the Banque franco-égyptienne, it was not in itself a source of profit for the CIC, which subscribed only 4.6 % of its capital and did not control the BNH any more than the banks it created in the French provinces. As a deposit bank, very different from an investment bank, the CIC did not have the means to inflict financial domination over the Haiti State.
The CIC and Haiti (1875–1910) - 2023.
66
According to an article published in the New York Times in May 2022, the French bank Crédit Industriel et Commercial (CIC) allegedly made tremendous profits from Haiti in the nineteenth century through a whirlwind of debt and through its offshoot, the Banque Nationale d’Haïti (BNH). Faced with this indictment, certain facts need to be set straight. The CIC did not sign any of the four loan contracts issued by Haiti on the French market in the nineteenth century. Although the CIC was responsible for issuing the 1875 loan, it was eventually canceled by its competitor the Crédit général français. As for the BNH, created in 1881 by the CIC in partnership with the Banque franco-égyptienne, it was not in itself a source of profit for the CIC, which subscribed only 4.6 % of its capital and did not control the BNH any more than the banks it created in the French provinces. As a deposit bank, very different from an investment bank, the CIC did not have the means to inflict financial domination over the Haiti State.
Réseaux sociaux