Haiti:First Review Under the Staff-Monitored Program-Press Release; and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Haiti: First Review Under the Staff-Monitored Program-Press Release; and Staff Report

Volume/Issue: Volume 2023 Issue 048

Publication date: January 2023

ISBN: 9798400231698

$20.00

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Topics covered in this book

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Banks and Banking , Money and Monetary Policy , Public Finance , Taxation - General , International - Economics , Haiti's Staff-Monitored Program , transparency policy , central bank financing , management of the International Monetary Fund , governance reform , Social assistance spending , Energy subsidies , Commercial banks , Global

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Summary

Haiti is faced with many difficulties, which have been worsened by higher food and fuel prices stemming from Russia’s war in Ukraine. Because of this global shock and a deterioration of the domestic security situation, the economy has become even more fragile, and the macroeconomic situation and outlook are more challenging than in June 2022, when the Staff Monitored Program was approved by IMF Management. In line with global trends, growth has been weaker than expected and inflation higher. Despite the more difficult macroeconomic situation and downside risks, recent data and progress on structural reforms suggest that the authorities are making meaningful efforts to ease the country’s multiple challenges.