Haiti Fifth PRGF Review
Summary: This IMF country report details the fifth review of Haiti's performance under the Poverty Reduction and Growth Facility (PRGF). It assesses macroeconomic stability, structural reforms, and policy implementation, noting both progress and remaining challenges. The report also includes requests for waivers and modifications to performance criteria.
Key Findings
- Macroeconomic stability has been maintained despite severe shocks, but the global downturn presents new challenges.
- Fiscal revenue shortfalls are complicating the program framework.
- The authorities are committed to increasing electricity tariffs to cost-recovery levels.
- The central bank will continue to monitor core inflation developments closely and improve its base money growth targeting.
- An updated debt sustainability analysis shows a substantial improvement in debt ratios, although Haiti remains at high risk of debt distress.
Full Description
The report focuses on the fifth review under the three-year arrangement under the PRGF, including requests for waivers and modifications of performance criteria. It covers Haiti's economic developments, policy discussions, and staff assessments. Key areas of focus include maintaining macroeconomic stability, addressing poverty reduction, and managing post-hurricane reconstruction. The report also outlines the authorities' commitment to prudent fiscal and monetary policies, revenue mobilization, and structural reforms to strengthen central bank independence and debt management.
How to cite
International Monetary Fund (IMF), 2009, Haiti Fifth PRGF Review, https://www.imf.org/external/pubs/ft/scr/2009/cr09258.pdf