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Posted  January 5, 2010        
The Near-Privatization of Haiti's Teleco, Apparently a Grand-Scale Fraud
Haiti's telecommunications company, commonly known as Teleco, is an absolute monopoly. Sure, as with perfect competition, absolute monopoly does not occur in real life and actual market structures vary between the two extremes of nearly perfect competition and near monopoly. Still, there is a reason for so. It is the only firm nationwide that does offer landline telephone services or the sole supplier of a homogeneous product for which there are no subsititutes.

Some professional crooks may refer to the wide availability of cellular telephones in the Caribbean nation in an attempt to dispute our categorization of Teleco as an absolute monopoly.

One thing is for sure. Because of a cellular telephone set limited usage option when compared to that of a landline one it is nothing more than a quasi-close substitute product.

It is primarily because of all of the above that the estimated market value of Teleco is not as reduced as Haiti's government claims. $58 million is the total sum the Haitian government says it will receive for the transfer of majority ownership (70 percent) to Vietel Corporation, a Vietnamese business enterprise.

Transparency is sure one of the many attributes of democracy. Before the commercial transaction involving Teleco is finalized, the Haitian government has an obligation to communicate to the news media the contents of the related sales contract of which it has entered into with the Southeast Asia corporation so Haitians will cease to be rightly believed that the reason why more than two thirds of Teleco's ownership will be transferred for a de minimus amount of money, given its importance as an absolute monopoly, is because kickbacks, as usual, will be paid to many senior government officials involved. 
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