Annual Report 2011
Summary: The economy rebounded 5.6 percent after the earthquake year, but oil at 107 US dollars a barrel pushed inflation back to 10.4 percent.
Key Findings
- Real GDP grew about 5.6 percent after contracting 5.4 percent in 2010.
- Average Brent rose from 71.45 US dollars a barrel in 2010 to 107.46 in 2011, on a market marked by extreme volatility from supply deficits.
- International prices passed quickly into the domestic economy and inflation accelerated to 10.4 percent, against 4.7 percent a year earlier.
- Imports fell 5 percent and exports grew strongly, narrowing the trade deficit.
- The reduced supply of foreign exchange and the expectations around it depreciated the gourde 2.3 percent: the dollar traded at 40.87 gourdes end-of-period and 40.75 on monthly average, against 39.94 and 39.90 a year earlier.
- The monetary authorities cut BRH bill rates in January 2011 and held them unchanged to the end of the fiscal year.
- Net domestic credit grew 3.67 percent year-on-year.
Full Description
The Bank of the Republic of Haiti's annual report for fiscal year FY2011, covering 1 October 2010 to 30 September 2011: 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 economy rebounded 5.6 percent after the earthquake year, but oil at 107 US dollars a barrel pushed inflation back to 10.4 percent.
How to cite
Bank of the Republic of Haiti (BRH), Annual Report 2011, https://www.brh.ht/wp-content/uploads/2018/08/rapport_2011.pdf