BRH Monetary Policy Note
Summary: This note reviews Haiti's monetary policy for the first quarter of fiscal year 2021-2022. It examines the economic context, monetary aggregates, financial sector performance, and provides perspectives on future policy directions, considering both international and domestic factors.
Key Findings
- The economic slowdown was influenced by global supply chain disruptions and domestic socio-political crises.
- Inflation accelerated significantly, reaching 24.6% in November 2021.
- Credit to the private sector declined due to the deteriorating business climate.
- The banking system showed improved financial structure and profitability despite asset quality deterioration.
- The gourde depreciated slightly, but the BRH maintained its international reserves.
Full Description
This monetary policy note for the first quarter of fiscal year 2021-2022 highlights the economic slowdown both globally and nationally. The international context was marked by persistent supply chain disruptions and uncertainties related to the spread of the Omicron variant. Domestically, the economy was affected by the socio-political crisis and fuel shortages. The note details decisions on monetary policy, trends in monetary aggregates, and key indicators of the financial sector, including the banking system and cooperative sector, and concludes with perspectives on the Haitian economy in 2022.
How to cite
Bank of the Republic of Haiti (BRH), 2022, BRH Monetary Policy Note, https://www.brh.ht/wp-content/uploads/note_polmon1t22.pdf