(2013-08) Haiti Sixth ECF Review

International Monetary Fund • 2013 • 54 pages

Summary — This report details the IMF's sixth review of Haiti's economic performance under the Extended Credit Facility arrangement. It assesses macroeconomic developments, policy discussions, and program monitoring, while also requesting an extension of the arrangement and rephasing of disbursements to support Haiti's economic stability and structural reforms.

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Key Findings

Growth continued to be modest due to long-standing frail capacity and structural weaknesses.
Fiscal performance was weaker than budgeted due to lower revenue collection.
Program implementation is broadly satisfactory, but some structural benchmarks remain to be fully implemented.
Priority should be given to increasing domestic revenue and rationalizing current expenditure.
The authorities have requested a one-year extension of the ECF arrangement.

Full Description

The IMF's sixth review of Haiti under the Extended Credit Facility (ECF) arrangement highlights the need for continued structural reforms to bolster economic growth and stability. Discussions focused on addressing weak revenue collection, improving public financial management, and strengthening monetary policy transmission. The report requests a one-year extension of the ECF arrangement to allow Haiti to consolidate gains and complete key reforms, particularly in the fiscal area, while also rephasing disbursements to align with the extended timeline. Key priorities include increasing domestic revenue, rationalizing current expenditure, and tackling impediments to public investment.

Topics

Geography

Time Coverage

2009 — 2017

Keywords

Extended Credit Facility, ECF, program review, macroeconomic stability, structural reforms, fiscal policy, monetary policy, public financial management, debt management, Haiti

Entities

IMF, International Monetary Fund, Banque de la République d'Haïti, BRH, World Bank, IDB, USAID

Notes

IMF Country Report (13-260)