Annual Report 2002
Summary: The recession continued with output down 0.9 percent, the gourde depreciated 16.51 percent and net foreign reserves fell to 50 million US dollars, leaving external debt heavy against them.
Key Findings
- Real GDP fell 0.9 percent, confirming a recession now in its second year.
- Inflation ran from 12.34 percent in September 2001 to a low of 7.99 percent in January 2002, then back to 10.07 percent at the close of the fiscal year.
- The gourde went from 25.49 to 29.70 to the US dollar, a depreciation of 16.51 percent over the year.
- Net foreign exchange reserves fell to 50 million US dollars, against which the repayment horizon made external debt increasingly heavy to carry.
- Credit to the public sector accelerated from March 2002 to reach about 3 billion gourdes by end-September.
- The primary sector contracted 3.73 percent, and with it agriculture, forestry, livestock and fishing, which make up 99.58 percent of that sector and 25.77 percent of GDP.
Full Description
The Bank of the Republic of Haiti's annual report for fiscal year FY2002, covering 1 October 2001 to 30 September 2002: the conduct of monetary policy and its instruments, the real sector, prices and the exchange rate, public finances and the balance of payments, the state of the banking system the BRH supervises, and the central bank's own operations and audited financial statements. The recession continued with output down 0.9 percent, the gourde depreciated 16.51 percent and net foreign reserves fell to 50 million US dollars, leaving external debt heavy against them.
How to cite
Bank of the Republic of Haiti (BRH), Annual Report 2002, https://www.brh.ht/publications/publications-regulieres/rapport-annuel-2002/