Haiti: Use of Fund Resources—Request for Emergency Post-Conflict Assistance

Author: International Monetary Fund

Volume/Issue: Volume 2005 Issue 404

Publication date: November 2005

ISBN: 9781451817621

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , financing , Emergency Post-Conflict Assistance , EPCA financing , IMF policy advice , IMF's Emergency Post-Conflict Assistance , IMF Emergency Post-Conflict Assistance , financing gap , Emergency assistance , Commercial banks , Credit , Arrears , Global

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Summary

This paper discusses the Use of IMF Resources in Haiti and Request for Emergency Post-Conflict Assistance (EPCA). The EPCA-supported program was on track until May 2005. All end-December and end-March targets were observed, inflation declined, the exchange rate stabilized, and net international reserves were increased. However, following expansionary fiscal and monetary policies during May–June, most end-June targets were missed. Also, while many structural measures were implemented as envisaged, progress on key structural measures, including the census of public employment and domestic arrears, was delayed.