The Economy of Haiti
- Haiti's economy is characterized by low income per capita and limited progress over the years.
- Coffee is the principal export crop, followed by sisal and sugar, but domestic food production is insufficient.
- The monetary system has assured internal and external stability but may have hindered economic development.
- Government spending and borrowing have led to budget deficits and balance of payments issues.
- The coffee price increase in 1953-54 offers an opportunity to stimulate economic development.
This World Bank report from 1954 offers a comprehensive analysis of Haiti's economic situation. It examines various aspects, including the country's demographic characteristics, agricultural practices, industrial development, transportation infrastructure, monetary and banking system, public finance, and balance of payments. The report emphasizes Haiti's historical context, noting its transition from a prosperous French colony to a nation grappling with poverty and underdevelopment. It identifies key challenges such as soil erosion, limited access to credit, and a reliance on coffee exports, while also exploring potential avenues for economic improvement through strategic investments in irrigation, infrastructure, and education. The report also discusses proposed monetary reforms and their potential impact on financial stability.
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How to cite
World Bank, 1954, The Economy of Haiti, accessed via HaitiDocs, https://www.haitidocs.org/doc/wb-1954-economy-haiti