(2002-02) Haiti 2001 Article IV Consultation

International Monetary Fund • 2002 • 49 pages

Summary — This IMF country report summarizes the 2001 Article IV consultation with Haiti, highlighting the weak performance under the staff-monitored program due to political instability and declining foreign financing. Discussions centered on the need for strong fiscal adjustment and structural reforms to restore macroeconomic stability and growth.

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Key Findings

Real GDP declined by around 2 percent in FY2000/01.
Fiscal deficit widened due to declining revenues and lack of budgetary aid.
Monetary policy remained tight, contributing to a decline in credit to the private sector.
Political instability and governance issues hindered economic progress.
Strong fiscal adjustment and structural reforms are needed to restore macroeconomic stability.

Full Description

The 2001 Article IV consultation with Haiti revealed a deteriorating economic situation characterized by declining real GDP, high inflation, and a widening fiscal deficit financed primarily by the central bank. The report emphasizes the urgent need for a strong fiscal adjustment, including increased revenue mobilization and expenditure control, alongside structural reforms to improve governance and private sector confidence. Discussions focused on achieving macroeconomic stability and laying the groundwork for a potential PRGF arrangement, contingent on resolving the political crisis and demonstrating commitment to sound policies.

Topics

Geography

Time Coverage

2000 — 2001

Keywords

Haiti, Article IV consultation, IMF, fiscal policy, monetary policy, structural reforms, economic stability, political crisis, governance, poverty reduction, economic growth

Entities

IMF, Haitian Institute of Statistics, World Bank, IDB, OAS, CARICOM, Murilo Portugal, Anston Jwala Rambarran

Notes

IMF Country Report (02-17)