(2011-05) Haiti First ECF Review

International Monetary Fund • 2011 • 56 pages

Summary — This IMF country report reviews Haiti's economic performance under the Extended Credit Facility (ECF) arrangement. The report highlights progress in restoring essential state functions, maintaining macroeconomic stability, and implementing structural reforms, while also addressing challenges related to reconstruction, international price shocks, and capacity constraints.

View Document View Original Source

Key Findings

Real GDP is expected to grow by 8.6 percent in FY 2011.
Twelve-month inflation rose to 7.2 percent in March 2011.
The fiscal deficit is projected to widen to 7.4 percent of GDP.
Net international reserves rose to about $1.1 billion.
The authorities are committed to increasing domestic revenue and strengthening public procurement.

Full Description

The IMF report assesses Haiti's first review under the Extended Credit Facility arrangement. It notes that the economy is recovering despite domestic and international challenges, with essential state functions restored and prudent macroeconomic policies in place. The report highlights satisfactory program implementation, meeting performance criteria and structural benchmarks, albeit with some delays. Key policy recommendations focus on consolidating economic recovery, safeguarding macroeconomic stability, improving public financial management, and promoting private sector-led growth. The report recommends completion of the first review, citing good performance and strong commitment from the authorities.

Topics

Geography

Time Coverage

2008 — 2013

Keywords

Haiti, IMF, Extended Credit Facility, ECF, economic recovery, macroeconomic stability, structural reforms, fiscal policy, monetary policy, debt relief, governance

Entities

IMF, Executive Board, Haiti, Michel Martelly, Bank of the Republic of Haiti, BRH, Ministry of Economy and Finance, MEF, IaDB, USAID, U.S. State Department

Notes

IMF Country Report (11-106)