Haiti’s Economy “Continues to Grow,” But Must Accelerate Reconstruction: IMF

By: Caribbean Journal Staff - June 14, 2012

Above: Jacmel during Carnival

By the Caribbean Journal staff

Haiti’s economy is moving in a positive direction, though at a level below that projected by the International Monetary Fund’s Extended Credit Facility arrangement, the IMF said following the conclusion of its mission to Haiti.

“The economy continues to grow, albeit below the levels projected in the ECF-supported programme, which remains broadly on track,” the fund said in a statement. “The slowdown in public investment, associated with the process of political transition over the recent months, was offset by sustained dynamism in the commercial sector and manufacturing industries as well as a good harvest.”

The IMF mission visited Haiti from June 4 to June 8 in Port-au-Prince.

According to the fund, Haiti’s real GDP is projected to grow by between 4.5 and 5.5 percent this year.

That number is below a projection by the International Monetary Fund’s World Economic Outlook, which, in April, projected a rate of 7.8 percent for 2012.

If the fund’s other projections held to form, that number would still represent the highest economic growth in the Caribbean.

Haiti’s fiscal position also “firmed,” according to the fund, as a result of what it called strong domestic revenue collection and lower capital expenditures than initially forecast in the budget.

“The new government would need to accelerate the pace of reconstruction against the backdrop of political stability and security,” the fund said. “Raising poverty-reducing expenditures and investment levels will remain key fiscal policy objectives.”

The government of Haiti and the IMF mission reached an agreement ad referendum on the “broad outlines of a macroeconomic and structural reform programme” that covers the remainder of 2012 and the 2013 budget year.

Haiti’s authorities will continue to focus on preserving macroeconomic stability, supporting economic recovery and further reducing poverty.

The fourth review under the ECF will be taken up by the IMF’s Executive Board in July.

Popular Posts the sexiest beaches including this resort at atlantis

The Sexiest Beaches in the Caribbean to Visit Right Now 

One is a beach with a nightclub-style pool right next door. Another is filled with beach bars — and even has its own au natural corner. Then there’s a beach that’s practically a nonstop party.  There are so many things that […]

The Best Caribbean Islands to Visit This Summer, From Antigua to St Croix

verandah antigua

We’ve been saying it for years, and we’ll keep saying it: in some ways, the Caribbean is even better in the summer months. The water is warm. It’s a bit less crowded, a little bit quieter. At night, the trade […]

A Low-Key, Lovely Adults-Only Beach Resort in Aruba

aruba beach resort adults-only

When Aruba’s Bucuti & Tara Beach Resort opened in 1987, it made sense for the hotel’s restaurant to be built in the shape of a boat shipwrecked on the sand: while Eagle Beach didn’t exactly resemble a desert island back […]

Related Posts jetblue caribbean major expansion

JetBlue Is Launching Another Major Caribbean Expansion

JetBlue Airways is set to launch a significant expansion to the Caribbean this summer, Caribbean Journal has learned.  In July, JetBlue will launch new routes to destinations including Antigua, Puerto Rico, Cartagena, Haiti, Puerto Plata, Saint Lucia and St Thomas, […]

Spirit Relaunches Flights to Cap-Haitien, Haiti

haiti spirit airlines cap-haitien

Spirit Airlines has relaunched its flights from Fort Lauderdale to Cap-Haitien on the northern coast of Haiti.  The low-cost carrier resumed the service between Fort Lauderdale-Hollywood International Airport and Cap-Haitien International Airport on Dec. 3.  The service is the only […]

Eastern Airlines Is Launching Flights to the Dominican Republic

dominican republic eastern airlines

The revived Eastern Airlines is back in the Caribbean.  The new iteration of the once-legendary carrier is set to launch expanded Caribbean flights in December with service to Santo Domingo, Dominican Republic.  Eastern Airlines will be launching twice-weekly flights from […]


Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.

No. Thank You