IMF gives thumbs up to Haiti’s economic growth

The International Monetary Fund, (IMF), has given the thumbs up to the Haitian economy as the country’s GDP growth rose to 2 percent, supported by public investment.

Annual average inflation remains below 15 percent. The current account deficit is expected to be contained at a relatively high level of 4 percent of GDP this fiscal year, amid investment-related imports and higher world prices for petroleum products and grains, which constitute Haiti’s main imports

Chris Walker of the IMF, recently visited Haiti to conduct the 2018 Article IV consultation and to hold discussions on the first review of Haiti under its Staff Monitored Program, (SMP).

Walker and his team concluded that Haiti needs to continue to implement structural reforms to sustain economic growth and reduce poverty more broadly.

“A reduction of the public-sector deficit should allow the private sector to benefit from new financing opportunities,” Walker said. “The reduction of the fiscal deficit should also limit monetary financing, which in turn should reduce inflationary pressures."