(2004-07) Haiti Staff-Monitored Program

International Monetary Fund • 2004 • 43 pages

Summary — This paper discusses the staff-monitored program for Haiti, prepared by the IMF. It focuses on macroeconomic stabilization in the aftermath of conflict, aiming to contain inflation and maintain net international reserves.

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Key Findings

The economic impact of the political crisis and armed rebellion has been severe, resulting in property damage and disruptions in economic activity.
The gourde has strengthened since the end of the armed conflict, stabilizing above its pre-conflict level.
Large expenditure cuts were required to keep the fiscal position in check, with authorities cutting recurrent and capital expenditure.
The program for April-September 2004 focuses on macroeconomic stabilization, aiming to contain inflation and maintain net international reserves.
The authorities are committed to respecting the original budget ceiling for BRH financing and improving tax collection.

Full Description

This paper on Haiti's staff-monitored program (SMP) focuses on macroeconomic stabilization following the armed conflict and political transition. The SMP aims to preserve financial stability, support economic recovery, and establish a track record of policy implementation. Key objectives include containing inflation, maintaining net international reserves, and implementing structural reforms to improve governance and transparency. The program is designed to build a basis for future financial assistance and mobilize donor support.

Topics

Geography

Time Coverage

2003 — 2004

Keywords

Staff-monitored program, macroeconomic stabilization, inflation, net international reserves, fiscal policy, monetary policy, structural reforms, governance, Haiti

Entities

International Monetary Fund, BRH, World Bank, Prime Minister Latortue, Economy and Finance Minister Bazin, Central Bank Governor Magloire, P. Gajdeczka, L. Jaramillo, C. Sancak, J. Toro, L. Redifer, M. Rached, A. Macia, A. Kouame, Christopher Towe, Carlos Muñiz

Notes

IMF Country Report (04-216)