Haiti Ex Post Assessment of Longer-Term Program Engagement
- The 2006 and 2010 programs preserved macroeconomic stability, but growth disappointed relative to projections.
- Real effective exchange rate appreciated by about 23 percent during 2006-14.
- Haiti's twin fiscal and current account deficits both remained below 3 percent of GDP for much of the 2006 program, but widened unexpectedly toward the end of the 2010 program.
- Structural reforms advanced, but more slowly than expected.
- The difficult political situation, as well as ownership issues, hampered the approval and implementation of reforms.
This Ex Post Assessment of Longer-Term Program Engagement on Haiti reviews the 2006 and 2010 IMF-supported programs. While the programs preserved macroeconomic stability and achieved some structural reforms, growth disappointed relative to projections due to optimistic baselines, lower-than-expected government investment, and weaker aid effectiveness. The report recommends that future Fund-supported programs in Haiti should focus on building a realistic macroeconomic framework, having a clearer fiscal anchor, focusing on fewer key structural reforms with realistic implementation timetables, and building a national consensus regarding the need for reform.
How to cite
International Monetary Fund (IMF), 2014, Haiti Ex Post Assessment of Longer-Term Program Engagement, https://www.imf.org/external/pubs/ft/scr/2015/cr1504.pdf