Haiti Second PRGF Review
- Haiti's macroeconomic goals for the first program year were largely met, although growth accelerated somewhat less than expected.
- Quantitative PCs and indicative targets for the second review were met with ample margins.
- Fiscal revenues performed well, but expenditure execution fell short of expectations.
- Improvements in both the current and capital account allowed for a strengthening of international reserves well beyond program targets.
- The PRSP was completed through a participative process and formally submitted to the IMF and World Bank on November 30, 2007.
The IMF's second review of Haiti's PRGF-supported program indicates that macroeconomic performance and program implementation are on track, with quantitative targets met and structural reforms advancing. Key challenges remain in accelerating budget execution, safeguarding expenditure quality, and ensuring resource sufficiency, while monetary policy implementation must be cautious given commodity price shocks and weak transmission. The report supports the conclusion of the review and waivers for non-observance of two structural performance criteria, contingent on their implementation as prior actions. The program aims to boost growth while maintaining economic stability and solidifying economic institutions.
How to cite
International Monetary Fund (IMF), 2008, Haiti Second PRGF Review, https://www.imf.org/external/pubs/ft/scr/2008/cr08117.pdf