Economic and Financial Governance Pact: Memorandum of Understanding on the Management of Public Expenditure Execution, Fiscal Year 2019-2020
Summary: Memorandum of understanding between the MEF, represented by minister Joseph Jouthe, and the BRH, represented by governor Jean Baden Dubois, on financing public expenditure for 1 October 2019 to 30 September 2020. It limits monthly BRH advances to essential spending, first wages, and caps them at the agreed monetary financing of ten billion gourdes a quarter.
Key Findings
- The MEF may request a monthly BRH advance only when resources are insufficient, limited to essential expenditure with wages first (Article 3).
- The BRH will not honor other expenditures ordered by check or transfer (Article 3).
- At each quarter's end total advances must be consistent with the agreed monetary financing of ten billion gourdes; extra temporary advances carry the market rate and are repaid within the fiscal year (Article 4).
- The MEF prepares a cash plan from quarterly spending programs under Article 59 of the law of 4 May 2016 on finance laws (Article 5).
- The BRH reports estimated central government financing weekly and the MEF sends a weekly spending program (Articles 6 and 7).
- The pact runs 12 months from 1 October 2019 to 30 September 2020, with monthly review meetings (Articles 8 and 9).
How to cite
Ministry of Economy and Finance (MEF); Bank of the Republic of Haiti (BRH), Economic and Financial Governance Pact: Memorandum of Understanding on the Management of Public Expenditure Execution, Fiscal Year 2019-2020, https://budget.gouv.ht/storage/app/uploads/public/5f5/d01/f24/5f5d01f243e58744347032.pdf
- Rights holder
- Government of Haiti