News

IMF: Haiti GDP Grew By 4 Percent in 2013

By: Caribbean Journal Staff - December 5, 2013

Above: Port-au-Prince

By the Caribbean Journal staff

Haiti’s gross domestic product grew by around 4 percent in the 2013 fiscal year, according to preliminary data from the International Monetary Fund.

That number was better than had recently been projected. In June, the IMF lowered its growth forecast for the country to 3.4 percent, down from an initial projection of 6.5 percent.

The country’s growth was the result of ongoing reconstruction spending, increased textile exports and a better-than-expected outcome for agriculture, according to the fund, which completed a mission to the country last month to complete a review under its Extended Credit Facility arrangement.

Inflation finished at 4.5 percent for the fiscal year, which ended in September, after spiking to nearly 7 percent following last year’s drought and hurricanes in the country.

Haiti’s fiscal deficit was “larger than programmed,” however, the fund said, due to higher transfers to the country’s EDH utility.

“The mission and the Haitian authorities discussed a number of risks surrounding these projections, and the mission recommended that buffers – in the form of government deposits at the banking system – be kept at levels sufficient to allow intervention should weather-related or other risks materialize,” said Gabriel Di Bella, who led the IMF mission.”The mission also emphasized that efforts should be strengthened to combat tax evasion, so as to ensure more robust revenue collection, which is essential to offset gradual declines in foreign assistance.”

Popular Posts adults only hotels resorts caribbean

Americans Are Flocking to the Island of St Lucia Right Now

Maybe it’s the scenery. Or perhaps it’s the hiking. Or the rainforests. Or the island’s stunning resorts.  But one thing is clear: Americans are falling in love with St Lucia again, with US travel to the Eastern Caribbean island continuing […]


Caribbean Airlines Is Bringing Back This Nonstop Flight to Kingston, Jamaica 

jamaica caribbean airlines kingston

The art scene. The music history. The flavors. The new-look downtown. Kingston, Jamaica is hotter than ever, as travelers have begun discovering its myriad charms — and an impressive new slate of hotels all over the capital.  It’s also easier […]


American Airlines' New Caribbean Flights Will Take You Nonstop to This Resort

american airlines la romana dominican republic

You know the typical arrival protocol for a Caribbean trip. You fly to your destination, get off the plane, head to customs, get your bags and then take some kind of car or van to your hotel, usually taking somewhere […]


Related Posts haiti spirit airlines cap-haitien

Spirit Relaunches Flights to Cap-Haitien, Haiti

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 […]


From The Bahamas to Jamaica, The Talking Heads’ Caribbean Love Story

bahamas talking heads jamaica

Talking Heads drummer Chris Frantz’s new book, Remain in Love, is a billet-doux to his bandmate and wife of more than 40 years, bassist Tina Weymouth, as well as documenting the couple’s musical journey together — first, as part of […]