Haiti: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Haiti

IMF Staff Country Reports, February 6, 2017

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Haiti: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Haiti

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Bibliographic details

• Published: February 6, 2017
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475575538.002

Overview

• The Haitian authorities request emergency financial assistance under the IMF’s Rapid Credit Facility (RCF) to address urgent balance of payments and fiscal needs associated with rehabilitation and reconstruction efforts.
• The authorities are also seeking grants and additional concessional financing from multilateral and bilateral donors to cover remaining financing needs stemming from emergency humanitarian and reconstruction efforts.
• The IMF assistance under the RCF is anticipated to play an important catalytic role in facilitating the provision of these resources to Haiti.

Key Findings and Analysis

• Principal objective: address urgent balance of payments pressures and fiscal needs tied to rehabilitation and reconstruction.
• Complementary financing strategy: combination of IMF RCF disbursement plus grants and additional concessional financing from multilateral and bilateral donors.
• Expected catalytic effect: IMF RCF assistance is expected to help mobilize donor resources for emergency humanitarian and reconstruction financing.

Policy Recommendations and Implications

• Use RCF disbursement to stabilize balance of payments and support immediate fiscal needs linked to reconstruction.
• Coordinate IMF support with multilateral and bilateral donors to secure grants and concessional financing that cover residual financing gaps.
• Emphasize the catalytic role of IMF assistance in attracting external donor financing for Haiti’s emergency needs.

Thematic Keywords and Subjects

• Subject: Credit; Debt sustainability analysis; External debt; Money; Public and publicly-guaranteed external debt; Public debt
• Keywords: approval of the RCF; Caribbean; CR; Credit; currency depreciation; Debt sustainability analysis; deficit; financing; Global; Haiti in the wake; Haiti's request; ISCR; Public and publicly-guaranteed external debt; RCF disbursement; Western Hemisphere

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