(1995-10) Haiti Recent Economic Developments
Summary — This 1995 IMF report analyzes Haiti's economic deterioration following the 1991 coup, marked by declining GDP, rising inflation, and trade embargoes. It examines macroeconomic trends, public finances, and the financial sector, highlighting the need for structural reforms and fiscal discipline.
Key Findings
- Real GDP declined by about 30 percent between 1991 and 1994.
- Inflation rose from an average of 18 percent to 52 percent in September 1994.
- Exports declined from US$202 million in 1991 to under US$60 million in 1994.
- The current account deficit (excluding grants) fell from 12.9 percent of GDP in 1991 to 6.9 percent in 1994.
- Tax collection fell from 7.6 percent of GDP in 1991 to 3.3 percent in 1994.
Full Description
This IMF staff country report from 1995 assesses Haiti's economic situation after the 1991 coup, detailing the impact of trade embargoes and suspended external aid. Real GDP declined significantly, inflation surged, and export-oriented industries collapsed. The report analyzes macroeconomic trends including output, expenditure, production by sector, and price developments. It also examines public finances, focusing on revenue shortfalls, expenditure patterns, and the operations of public enterprises. Furthermore, the report reviews the financial intermediation landscape, including banking system operations and monetary policy instruments. The report underscores the urgent need for structural reforms, fiscal discipline, and restored external financing to stabilize and revive Haiti's economy.
Notes
IMF Country Report (95-34)