Haitian Economy Grew 5 Percent in 2011

By: Caribbean Journal Staff - December 16, 2011

Above: workers in Haiti (Photo: Clinton Bush Haiti Fund)

By the Caribbean Journal staff

Haitian GDP grew by 5 percent in 2011, according to the International Monetary Fund, which recently held discussions for extended credit facility reviews in Port-au-Prince.

“Economic activity has recovered, and programme implementation under the ECF has been broadly satisfactory,” said Boileau Loko, who led the IMF mission last week.

According to Loko, Real GDP grew despite a contraction in agricultural output owing to adverse harvest conditions.

Twelve-month Inflation in the country reached 10.4 percent in October, largely due to higher food prices.

The IMF’s outlook for Haiti for 2012 remains favorable, Loko said, assuming that the new government accelerates reconstruction and that the security and political situations remain stable.

The IMF’s data predicted growth of 7.8 percent in 2012.

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