Haiti Fourth ECF Review

The IMF's Executive Board completed the fourth review of Haiti's economic program under the Extended Credit Facility (ECF) in July 2012. The review acknowledges Haiti's progress in maintaining macroeconomic stability, with declining inflation and sound banking sector indicators. It also notes improvements in tax revenue performance due to ongoing administrative reforms. However, the report points out that economic activity has been slower than anticipated due to political instability and under-execution of public investment. The IMF approved a disbursement of US$7.4 million, emphasizing the need for continued structural reforms, improved public expenditure management, and private sector development to achieve sustained growth and poverty reduction.