Haiti: Staff Report for the 2001 Article IV Consultation

IMF Staff Country Reports, February 8, 2002

Source details

The report highlights that Haiti’s performance under the Staff-Monitored Program (SMP) during FY2000/01 was weak.
Real GDP is estimated to have declined by about 2 percent.
Inflation remained broadly unchanged at about 16 percent during most of the year.
Tight monetary conditions and crowding out by the public sector, combined with the weak economy and continuing political uncertainty, contributed to a sharp decline in credit to the private sector.
Negative expectations were raised by the continuing high fiscal imbalance and central bank financing.

Real GDP: estimated decline of about 2 percent (FY2000/01).
Inflation: remained broadly unchanged at about 16 percent during most of the year.
Fiscal situation: continuing high fiscal imbalance contributed to negative expectations.

Monetary policy described as tight monetary conditions during FY2000/01.
Central bank financing was a source of concern, contributing to negative expectations.

Crowding out by the public sector and tight monetary conditions led to a sharp decline in credit to the private sector.
Continuing political uncertainty compounded the decline in private-sector credit.

Subjects: Banking, Central banks, Commercial banks, Economic sectors, Financial institutions, International reserves, Oil prices, Prices, Public debt, Public sector.
Keywords: arrears to the IDB, Caribbean, central bank financing, Commercial banks, CR, deficit, IDB's disbursement, inflation rate, International reserves, ISCR, managed floating exchange rate regime, Oil prices, Public sector, regime, staff appraisal, Western Hemisphere.