(2017-01) Haiti Request for Rapid Credit Facility Disbursement

International Monetary Fund • 2017 • 45 pages

Summary — This country report details Haiti's request for disbursement under the Rapid Credit Facility (RCF) following Hurricane Matthew. The package includes a press release, staff report, and statement by the Executive Director for Haiti, outlining economic developments, policies, and debt sustainability analysis.

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Key Findings

Hurricane Matthew caused significant damage, estimated at 23% of GDP.
Real GDP growth for 2016/17 has been reduced by 0.7 percentage points due to the hurricane.
Additional budgeted capital expenditures equivalent to 4.3% of GDP are needed for rehabilitation and reconstruction.
The fiscal deficit is expected to widen to 5.3% of GDP.
Total public sector external debt is expected to reach 35% of GDP by FY 2020/21.

Full Description

This IMF country report focuses on Haiti's request for disbursement under the Rapid Credit Facility (RCF) in the aftermath of Hurricane Matthew. The documents included are a press release, a staff report prepared by the IMF team for the Executive Board's consideration, a debt sustainability analysis prepared by the staffs of the IMF and the International Development Association, and a statement by the Executive Director for Haiti. The report assesses the economic impact of the hurricane, discusses policies to safeguard sustainability and growth, and analyzes Haiti's capacity to repay the Fund.

Topics

Geography

Time Coverage

2013 — 2036

Keywords

Rapid Credit Facility, RCF, Hurricane Matthew, debt sustainability, economic impact, fiscal policy, reconstruction, external debt, IMF, Haiti

Entities

IMF, International Monetary Fund, Executive Board, International Development Association, World Bank, Interamerican Development Bank, Venezuela, Petrocaribe, Banque de la République d'Haïti, BRH, Yves Romain Bastien, Jean-Baden Dubois

Notes

IMF Country Report (17-38)