Annual Report 2009
Summary: Inflation swung from 18 percent to minus 4.7 percent as oil prices fell 37 percent, and the PRGF arrangement agreed in 2006 was completed.
Key Findings
- The fiscal year saw the completion of the Poverty Reduction and Growth Facility arrangement agreed between the Haitian authorities and the IMF in 2006.
- Year-on-year inflation fell from 18 percent in 2008 to minus 4.7 percent in 2009.
- Oil fell 37 percent against its 2008 annual average of 97.9 US dollars.
- Broad money grew 11.06 percent, 6.57 percentage points less than in 2008.
- State financial operations closed on a deficit of about 4.25 billion gourdes, of which 2.45 billion was financed by the central bank.
- Outside the first quarter, when headline inflation at 14.01 percent ran above core at 12.30 percent, the relationship reversed for the rest of the year: from January to September the core index rose 2.02 percent on average while the general CPI rose 0.41 percent.
- The monetary authorities held BRH bill rates at their April 2008 levels until April 2009 given the uncertainty.
Full Description
The Bank of the Republic of Haiti's annual report for fiscal year FY2009, covering 1 October 2008 to 30 September 2009: 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. Inflation swung from 18 percent to minus 4.7 percent as oil prices fell 37 percent, and the PRGF arrangement agreed in 2006 was completed.
How to cite
Bank of the Republic of Haiti (BRH), Annual Report 2009, https://www.brh.ht/wp-content/uploads/2018/08/rapport2009.pdf