(2009-03) Haiti Fourth PRGF Review

International Monetary Fund • 2009 • 82 pages

Summary — The IMF completed its fourth review of Haiti's economic performance under the PRGF, approving an augmentation of financial assistance equivalent to SDR 24.57 million. The review enables an immediate disbursement of SDR 23.98 million to Haiti, addressing the impact of hurricanes and the global downturn.

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Key Findings

Haiti's economic growth slowed to 1.3 percent in FY2008 due to natural disasters and political stalemate.
The fiscal deficit is projected to increase to 4 percent of GDP in FY2009.
The program includes a US$50 million external budget support to be identified.
The authorities are requesting a second program augmentation of 30 percent of quota to address external deterioration.
Structural reforms focus on completing fiscal and financial sector reforms.

Full Description

The IMF's Executive Board completed the fourth review under Haiti's PRGF arrangement, approving a financial assistance increase of SDR 24.57 million to mitigate the impact of hurricanes and the global downturn. This allows for an immediate disbursement of SDR 23.98 million. The review also granted a waiver for a minor deviation from a September 2008 performance criterion. Priorities for the third and final program year include safeguarding macroeconomic stability, finalizing structural reforms, and facilitating Haiti's progression to the HIPC completion point.

Topics

Geography

Time Coverage

2007 — 2009

Keywords

Haiti, IMF, PRGF, economic review, debt relief, fiscal policy, monetary policy, structural reforms, economic growth, HIPC, external debt

Entities

IMF, Haitian Government, Takatoshi Kato, World Bank, IDB, European Union, PetroCaribe

Notes

IMF Country Report (09-77)