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Money -- Haiti --- Gold coins -- Haiti --- Haiti -- Economic conditions
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HAITI--POLITICS AND GOVERNMENT --- HAITI--RACE RELATIONS --- HAITI--HISTORY --- HAITI--ECONOMIC CONDITIONS --- HAITI--ETHNIC RELATIONS
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Haiti -- Economic conditions --- Haiti -- Commerce --- Haiti -- Politics and government --- Haiti -- Social conditions --- Engelbrecht
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EXECUTIVE SUMMARY Haiti’s 2006 and 2010 Fund-supported programs started under very different circumstances but shared the main objectives of preserving macroeconomic stability and creating the conditions for a sustained growth takeoff through structural reform. The 2006 program started as Haiti was making progress toward macroeconomic stabilization. Reducing inflation and avoiding fiscal dominance of monetary policy were top priorities. The 2010 program started in the aftermath of a devastating earthquake. It faced the challenges of dealing with a huge inflow of aid and scaling up public investment. Both programs aimed to foster reforms to address long-standing governance and transparency concerns, as well as improving revenue mobilization to increase fiscal space and reduce fiscal vulnerabilities. Growth was to rise to 4-6 percent, an ambitious objective given Haiti’s long history of serious fragility with near zero or negative growth. There were notable successes during the two programs. Despite a series of shocks, inflation remained in single digits and international reserves increased by more than expected, which helped to limit exchange rate volatility in the context of the large aid inflow. Program performance criteria effectively eliminated central bank credit to the government, thus reducing risks of fiscal dominance. Structural reforms also advanced, particularly during the 2006 program which coincided with the HIPC process. Revenue administration improved, with tax revenue rising steadily over the two programs. These achievements were not negligible given Haiti’s history.
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EXECUTIVE SUMMARY This is the final review under the Extended Credit Facility (ECF) arrangement. The program contributed to maintaining macroeconomic stability, and there was progress on structural reforms. The authorities intend to request a successor arrangement under the ECF. A new finance minister was appointed in April; uncertainly remains on the timing of elections. Preliminary data suggest that GDP in FY2014 grew by 3.5–4 percent, while inflation increased slightly to about 5 percent. An increase in fuel prices (in October) should result in fiscal savings of at least 1 percent of GDP during FY2015. The March performance criterion on net international reserves (NIR) was met, but although the deficit was lower than projected, the performance criterion on net central bank credit to the central government was missed. Downside risks are significant and include a pull-back of Venezuela-related flows, a resumption of political tensions, and vulnerability to weather events. A total of SDR 1.638 million will become available upon completion of this review, bringing total disbursements under the ECF to SDR 40.950 million. Key Policy Recommendations: • The policy mix, in particular the adjustment going forward, should come from a lower fiscal deficit rather than from a tighter monetary policy. The FY2015 fiscal deficit should be reduced to mitigate financing risks as part of a medium-term plan to restore fiscal sustainability. • The central bank should let the exchange rate adjust more to market pressures. Intervention should be parsimonious, geared at avoiding excess volatility and disorderly movements in the exchange rate; it should be guided by fundamentals in the medium term. • Progress on structural reforms (including on the energy sector and on public financial management) should catalyze more donor support and is essential for supporting growth. A possible new ECF arrangement would entrench macroeconomic stability and promote policies to generate sustained GDP growth.
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908 <729.4> --- 882.1 Caraïben --- Haiti --- Social conditions --- Economic conditions --- 830 Economie --- 843 Middenveld --- 844.6 Samenlevingsproblemen --- Economic conditions. --- Social conditions. --- Haiti - Social conditions --- Haiti - Economic conditions
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Voodooism --- Vaudou --- Haiti --- Social life and customs. --- Religious life and customs. --- Economic conditions. --- Vodou --- Voodooism - Haiti. --- Haiti - Social life and customs. --- Haiti - Religious life and customs. --- Haiti - Economic conditions.
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Haïti, 12 janvier 2010. En moins d'une minute, un tremblement de terre détruit une partie de la capitale Port-au-Prince et plusieurs villes voisines. Plus de 230 000 morts, 300 000 blessés et plus d'un million de sans-abri. Un formidable élan de générosité international mais aussi une multitude d'interventions humanitaires non exemptes de critiques. Une nouvelle fois, Haïti est blessée. Affaiblie par un demi-siècle de gestion politique, économique et sociale désastreuse ainsi que par une succession de catastrophes naturelles (cyclones, inondations, sécheresses, épidémies), la « perle des Antilles » se relèvera-t-elle ? Beaucoup sont ceux qui aujourd'hui répondent par l'affirmative malgré l'importance des obstacles à surmonter. Comme si le 12 janvier 2010 marquait la fin d'une époque et donc le début d'une autre. Conçu comme un « trialogue » entre la société civile haïtienne, la diaspora et le monde de la solidarité internationale, cet ouvrage est né à l'occasion du colloque « Haïti : des lendemains qui tremblent » qui s'est tenu à Genève en janvier 2011. Il réunit des contributions d'experts qui considèrent que le tremblement de terre et ses conséquences créent les conditions d'un grand débat national et international sur l'avenir d'Haïti. Il analyse sans complaisance les faiblesses de la société haïtienne, les ambiguïtés de la diaspora et les jeux souvent contestables de l'aide internationale. Il propose des pistes de réflexion et des priorités pour reconstruire une société aspirant à plus de liberté, de justice et d'égalité. Le séisme sera-t-il l'événement qui permettra à Haïti d'entrer enfin dans le xxie siècle ?
Earthquake relief --- Haiti Earthquake, Haiti, 2010 --- Democratization --- Haiti --- Politics and government --- Social conditions --- Economic conditions --- Relief, Earthquake --- Disaster relief --- Earthquake relief - Haiti - Congresses --- Haiti Earthquake, Haiti, 2010 - Congresses --- Democratization - Haiti - Congresses --- Haiti - Politics and government - 21st century - Congresses --- Haiti - Social conditions - 21st century - Congresses --- Haiti - Economic conditions - 21st century - Congresses --- 2010 --- séisme --- conditions économiques --- conditions sociales --- Haïti
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This Selected Issues paper examines opportunities and challenges for growth in Haiti. Achieving a sustained increase in living standards in Haiti will require deep-seated reforms across a range of areas. Diversifying the export base is needed to cushion the impact of severe shocks that have reduced per capita income and prevented a sustained increase in the capital stock. Integration into global-value chains would also allow Haiti to take advantage of its proximity to the U.S. market and favorable trade preferences to generate employment, spur the creation of human capital, and allow Haiti to begin climbing the value added chain.
Haiti -- Economic conditions. --- Haiti -- Economic policy. --- International finance. --- International Monetary Fund. --- Investments: Energy --- Exports and Imports --- Macroeconomics --- Public Finance --- Money and Monetary Policy --- Education: General --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Trade: General --- National Government Expenditures and Education --- Electric Utilities --- Public finance & taxation --- International economics --- Education --- Pensions --- Investment & securities --- Monetary economics --- Education spending --- Capital spending --- Exports --- Electricity --- International trade --- Expenditure --- Commodities --- Expenditures, Public --- Capital investments --- Haiti
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