Annual Report 2004
Summary: Output fell 3.8 percent under a double shock, the looting and fires that followed 29 February 2004 and the floods from hurricanes Ivan and Jeanne, with private estimates relayed by the IMF putting capital losses near 5 percent of GDP.
Key Findings
- Real GDP fell 3.8 percent, the economy having barely emerged from the trough of 2003.
- Private-sector estimates relayed by the IMF put capital losses at about 5 percent of GDP.
- Inflation ended the year at 22.53 percent year-on-year, close to the 25 percent target set in the staff-monitored programme.
- The exchange rate closed at 36.60 gourdes to the dollar, an annual appreciation of 12.5 percent, helped by weak domestic demand and by announcement effects from 1.4 billion US dollars of donor pledges over two years.
- The banking system earned 428.8 million gourdes in profits, though the most dollarised institutions were penalised by the gourde's appreciation.
- The system earned 20 centimes on each gourde spent, down on the previous year.
Full Description
The Bank of the Republic of Haiti's annual report for fiscal year FY2004, covering 1 October 2003 to 30 September 2004: 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. Output fell 3.8 percent under a double shock, the looting and fires that followed 29 February 2004 and the floods from hurricanes Ivan and Jeanne, with private estimates relayed by the IMF putting capital losses near 5 percent of GDP.
How to cite
Bank of the Republic of Haiti (BRH), Annual Report 2004, https://www.brh.ht/wp-content/uploads/rapport2004.pdf