(2007-08) Haiti 2007 Article IV Consultation and First PRGF Review

International Monetary Fund • 2007 • 80 pages

Summary — This report summarizes the IMF's assessment of Haiti's economic performance and policies following the 2007 Article IV consultation and first review under the PRGF. It commends Haiti's progress in stabilizing the economy but emphasizes the need for structural reforms to achieve higher, sustained growth and poverty reduction.

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Key Findings

Haiti has made progress in stabilizing the economy and restoring political institutions.
Structural reforms are needed to achieve higher, sustained growth.
Domestic revenue mobilization is key to funding essential government expenditure.
The monetary policy framework needs clarification to consolidate a stable low-inflation environment.
External competitiveness should be bolstered by addressing non-price competitiveness problems.

Full Description

The IMF Executive Board concluded its 2007 Article IV consultation with Haiti, commending the authorities for stabilizing the economy and restoring political institutions. Key recommendations include mobilizing domestic revenues, improving budget execution, clarifying the monetary policy framework, and addressing non-price competitiveness issues. The report highlights the need for structural reforms to overcome bottlenecks and achieve higher, sustained growth, while maintaining a floating exchange rate regime and limiting interventions to rebuilding reserves and smoothing seasonal fluctuations.

Topics

Geography

Time Coverage

2006 — 2007

Keywords

Haiti, IMF, Article IV Consultation, PRGF, economic stabilization, structural reforms, fiscal policy, monetary policy, revenue mobilization, competitiveness, poverty reduction

Entities

IMF, Haitian government, Executive Board, President Préval, Bank of the Republic of Haiti, Daniel Dorsainvil, Raymond Magloire

Notes

IMF Country Report (07-293)