Above: Plage de Morisseau in Haiti (Photo: MT Haiti)
By the Caribbean Journal staff
Haiti’s Bank of the Republic of Haiti central bank is “well-capitalized,” the organization said in a release Thursday.
The bank reported a positive balance of approximately $113.5 million USD (2.7 billion gourdes), according to Charles Castel, the bank’s governor.
Overall, Haiti’s banking system has capital totaling $433.11 million (10.3 billion gourdes), through June 2012, a capital-to-assets ratio of approximately 6.23 percent, “well-above the required minimum of 5 percent,” the bank said.
The Banque de la Republique d’Haiti (BRH) reported a return on assets of 1.35 percent as of June 30, with a return on capital of 21.69 percent over the same period.
The bank said that, in light of these indicators, it was “maintaining monetary and financial stability conducive to healthy growth and sustainable development.”
Haiti’s economy, led by reconstruction from the 2010 earthquake, led Latin America and the Caribbean in GDP growth in 2011, and is projected to do so in 2012, according to the United Nations Economic Commission for Latin America and the Caribbean.
The bank said that “considerable efforts” were being made by the Haitian state to preserve macroeconomic stability in the company.