(2012-03) Haiti Second and Third ECF Reviews

International Monetary Fund • 2012 • 74 pages

Summary — The IMF completed the second and third reviews of Haiti's economic performance under the Extended Credit Facility (ECF). Haiti's economy is recovering, with growth at 5.6 percent in FY2011, and the program is broadly satisfactory, though structural reforms have lagged.

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Key Findings

Real GDP is estimated to have grown by 5.6 percent in FY 2011.
The overall fiscal deficit was significantly lower than envisaged, at 3.7 percent of GDP.
The external position has strengthened, with improved trade balance.
Broad money growth remained below the program target.
Structural reforms have lagged owing mainly to the protracted electoral process.

Full Description

This IMF Country Report details the second and third reviews under Haiti's Extended Credit Facility. While Haiti's economy is recovering, with growth resuming and inflation receding, the reconstruction has been slower than anticipated. The report highlights the need for political stability and accelerated reconstruction efforts to strengthen the economic recovery, while also emphasizing the importance of domestic revenue mobilization, rationalized spending, and improved public financial management.

Topics

Geography

Time Coverage

2008 — 2013

Keywords

Haiti, IMF, Extended Credit Facility, ECF, economic recovery, fiscal policy, structural reforms, debt sustainability, macroeconomic stability, public financial management

Entities

IMF, Haitian authorities, Garry Conille, President Martelly, Naoyuki Shinohara, World Bank, IDB, Venezuela

Notes

IMF Country Report (12-74)