Haiti 2015 Article IV Consultation and ECF Request
Summary: This report details the IMF's 2015 Article IV consultation with Haiti, including a request for a three-year arrangement under the Extended Credit Facility. The program aims to support macroeconomic stability, enhance growth potential, and reduce vulnerabilities to shocks through fiscal adjustment and structural reforms.
Key Findings
- Haiti's economy is projected to grow at 2-3% in FY2015, underpinned by remittance-driven consumption and a growing textile industry.
- Fiscal consolidation is crucial, targeting a non-financial public sector deficit of 2.5% of GDP in the medium term.
- Structural reforms are essential to enhance competitiveness, including improvements to property rights, credit access, and labor productivity.
- Monetary policy should be geared towards maintaining low and stable inflation.
- The program aims to preserve price stability and keep international reserves at an appropriate level.
Full Description
The IMF's 2015 Article IV consultation with Haiti focuses on strategies to improve growth potential and external competitiveness, leveraging low international oil prices to reduce vulnerabilities, particularly in the energy sector. The proposed three-year program, anchored on Haiti's Strategic Plan for Development, aims to entrench stability through fiscal adjustment, institutional reform, and growth support. Key areas include lowering fiscal deficits, removing growth bottlenecks, and improving the policy framework through governance and transparency measures.
How to cite
International Monetary Fund (IMF), Haiti 2015 Article IV Consultation and ECF Request, https://www.imf.org/external/pubs/ft/scr/2015/cr15157.pdf