Haiti to Receive $7.4M Disbursement from International Monetary Fund

By: Caribbean Journal Staff - July 20, 2012

Above: Labadie (Photo: MT Haiti)

By the Caribbean Journal staff

The Executive Board of the International Monetary Fund has completed the fourth review of Haiti’s performance under its Extended Credit Facility arrangement.

The decision, which was taken on a “lapse of time basis,” will enable the immediate disbursement of $7.4 million to Haiti. Total disbursements under the programme to date stand at $46.9 million.

The “lapse of time” basis describes situations when the IMF’s Executive Board agrees that a proposal can be considered without convening discussions.

Haiti’s Extended Credit Facility was approved on July 21, 2010, along with full relief on the country’s outstanding debt to the IMF of about $268 million.

The relief is part of the IMF’s strategy of supporting longer-term economic reconstruction plans in Haiti, following the January 2010 earthquake.

An IMF mission to Haiti last month found that the country’s economy “continues to grow,” with a projected GDP growth rate of between 4.5 percent and 5.5 percent.

The mission called for an accelerated pace of reconstruction in Haiti at the conclusion of that visit.

Popular Posts all-inclusive montego bay resort by marriott

Marriott Just Opened Its New All-Inclusive Resort in Montego Bay 

Marriott has continued its rapid expansion into the Caribbean all-inclusive space with the debut of its newest adults-only resort in Montego Bay: the new Hideaway at Royalton Blue Waters, An Autograph Collection All-Inclusive Resort.  The 352-room resort is part of […]

Yes, You Can Stay at an All-Inclusive Resort in St Thomas, USVI

the beach at the bolongo bay resort

The Bolongo Bay Beach Resort on St. Thomas may be the most popular all-inclusive resort you’ve never heard of. It’s not that the resort itself isn’t well-known: this family-run and managed, beach resort has been in business since 1974. But […]

The 15 Best Spa Resorts in the Caribbean

como parrot cay

Resort spas have become almost as common as fitness centers on amenity lists, but while it’s simple enough to carve out some space for a few treatment rooms, there are some spas that offer a true “experience” to go along […]

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