Haiti Sixth ECF Review
Summary: This IMF country report details the sixth review of Haiti's performance under the Extended Credit Facility (ECF). It discusses the impact of the January 2010 earthquake, requests a waiver for a non-observance of a performance criterion, and proposes an augmentation of access to address the balance of payments needs arising from the disaster.
Key Findings
- Haiti's GDP could decline by at least 13 percentage points in FY2010 due to the earthquake.
- Inflation is projected to rise significantly, perhaps to about 10-20 percent.
- The fiscal balance is projected to deteriorate very substantially.
- The external current account deficit could reach almost 20 percent of GDP.
- The authorities are requesting a program augmentation of SDR 65.52 million.
Full Description
The IMF report assesses Haiti's economic situation following the devastating January 2010 earthquake, projecting a significant GDP decline and increased inflation. It reviews Haiti's performance under the Extended Credit Facility, noting satisfactory progress but a breach of the non-concessional external debt ceiling. The report supports the authorities' request for a waiver and an augmentation of access to address the balance of payments gap, emphasizing the need for coordinated international assistance and debt sustainability.
How to cite
International Monetary Fund (IMF), 2010, Haiti Sixth ECF Review, https://www.imf.org/external/pubs/ft/scr/2010/cr1035.pdf