Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...

Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

IMF concludes staff visit to Haiti
Published on June 2, 2014 Email To Friend    Print Version

PORT-AU-PRINCE, Haiti -- A mission from the International Monetary Fund (IMF) led by Gabriel Di Bella visited Port-au-Prince during May 14 – 23, 2014, to conduct discussions for the final review under the extended credit facility (ECF) arrangement.

The mission met with minister of economy and finance Marie Carmelle Jean-Marie; governor of the Bank of the Republic of Haiti (BRH) Charles Castel; other senior government officials, representatives of the private sector, and development partners.

At the end of the visit, Di Bella issued the following statement:

“Preliminary data for the first half of the fiscal year 2014 (i.e. October 2013 - March 2014) suggest that economic activity (as measured by gross domestic product, GDP), has advanced in line with projections, at a pace of about 3 – 4 percent. Inflation remained low, and it is projected to be in the mid-single digits by the end of the fiscal year (i.e. September 2014). The fiscal deficit was lower than programmed, largely due to delays in approving the budget, while domestic revenues have been close to projections. Monetary policy was adequately geared towards protecting reserves while ensuring a low and stable inflation.

“The implementation of measures to strengthen the effectiveness of fiscal policy advanced, in particular with respect to the establishment of the Treasury Single Account (TSA). To this end, continued close cooperation between the Ministry of Finance and the Central Bank will be essential. The implementation of measures to improve the effectiveness of public investment and debt management is also ongoing.

“The mission welcomed the approval of the budget for 2014, and discussed with the authorities the policy mix for fiscal year 2015. In this regard, the mission indicated the need to gradually reduce the fiscal deficit, which in turn will allow a progressive loosening of monetary policy. Successfully reducing the fiscal deficit will depend on containing the cost of energy subsidies and significantly and decisively improving the performance of the electricity sector. The mission underscored the need to implement measures in these areas together with well-designed programs to protect the most vulnerable. A lower fiscal deficit will allow maintaining appropriate international reserve buffers, which are essential to the effective implementation of monetary policy, and as a cushion to withstand unanticipated shocks.

“On the occasion of the final program review, the mission would like to commend the authorities for their implementation of sound macroeconomic policies in the difficult years following the 2010 earthquake. The hospitality and open discussions that prevailed throughout this period continued during this visit. Fund staff and the Haitian authorities will continue working during the upcoming weeks with the objective of finalizing the discussions in the context of the eighth and final review of the ECF, in order to present the related documents for the consideration of the Executive Board before end-August, 2014.”
Reads: 3336

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


As a result of our comments feature being overtaken in recent weeks by spammers using fake email addresses, producing a large number of bounced verification emails each day, we have reluctantly decided to suspend the comments section until further notice.

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.

Other Headlines:

Regional Sports: