Haiti, Friday March 8, 2019 – A two-week visit by
an International Monetary Fund (IMF) delegation
to Haiti ended today with an announcement that the impoverished country could
get US $ 229 million from the Washington-based financial institution to help it
Head of the mission, Chris Walker said
in a statement released today the three-year Extended Credit Facility
(ECF) -which allows for steady-state stabilization
Haiti's economy by putting its budget deficit on a downward trajectory and managing
its debt while protecting the poorest in the country-was negotiated with the
Government and the country's Central Bank.
The zero per cent interest rate loan-ounce
it comes from the IMF Board which is expected to meet Haiti's
request in coming weeks-will be paid over three years in return for reaching
The IMF team had been in Haiti from
February 25, in response to a request from the Haitian authorities, to discuss
IMF support for poverty measures, encourages good governance, raise
growth and stabilize the country's economic situation.
“The agreement we have reached is
Haiti, Haiti, United States
hardship of the most vulnerable, “said Walker. “We have placed social
protection at the center of the agreement
implemented, the poorest in Haiti will be among the first to
benefit in a tangible way. The program
provides money for a range of social protection measures ranging from school
The IMF official said priority has
also been given to the fight against corruption and improvements
“The IMF backs the government's love of
state reform. In it agreement, it has
drawn up measurable targets to boost this fight with the goal of injecting
greater transparency into the management of public finances, tax and revenue
The IMF Delegation's visit also encompassed
the IMF Article IV consultation, its regular check of the health of the
Real growth remains near its four-year
average of 1.5 per cent.
The country has been facing severe
financing constraints while political turbulence has discouraged private
Investment and limited action on the necessary fiscal reform, Walker said.
“Under the program, we expect that financial constraints will be relaxed, allowing for faster growth. We at the IMF are ready to partner with Haiti on its economic revitalization. We will also encourage other multilateral agencies and countries to support the country. We are talking to partners and they are willing to help. It would also be very useful for Haiti's bilateral partners at this critical time, “he added.
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