Haiti: Staff-Monitored Program-Press Release and Staff Report

This paper explores Haiti’s the Staff-Monitored Program (SMP). This new 12-month SMP is expected to contribute to strengthen macroeconomic stability to support well-being of people and to enhance economic resilience and governance. It will anchor the government’s macroeconomic priorities for the year ahead. IMF management also welcomes the authorities’ commitment to publish the forthcoming Governance Diagnostic Report. Haiti faces a multidimensional crisis, a political transition, with a challenging outlook. The top priority is to continue to restore security. This is a prerequisite for macroeconomic stability and for allowing growth to materialize. Despite domestic and global difficulties, the authorities are firmly committed to negotiating a new SMP and have managed to contain somewhat the impact of the various shocks, thereby averting even worse macroeconomic outcomes. Advancing governance reforms is paramount to help Haiti exit from fragility, ensure inclusive growth and build trust with the private sector and development partners. A government-led strategy to continue to strengthen the economy’s resilience to multiple shocks requires the financial support of the international community.