Press Release No. 20/118

Statement by IMF Managing Director Kristalina Georgieva on Haiti

March 27, 2020

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement:

“Like many countries, Haiti’s serious economic challenges have the potential to be significantly compounded by the devastating effects of COVID-19. The government is seeking to help protect the people of Haiti from the impact of this rapidly evolving global pandemic and to prevent the further spread of the virus. In the context of adverse global developments, Haiti is facing financing constraints which complicate the provision of the most basic healthcare measures and will require the support of international stakeholders.

“In light of the urgent need to step up action to protect the Haitian people and the economy, the authorities have requested our financial support through the Fund’s Rapid Credit Facility. The approval of this emergency financial tool, would provide financing in support of policies that would direct funds swiftly to Haiti’s most affected sectors, including the healthcare system, to bolster the initial response to COVID-19. Our IMF staff team is working expeditiously to respond to this request so that a proposal can be considered by the Fund’s Executive Board in the coming weeks.

“Our objective is to provide rapid support to help Haiti address the effects of a mounting health crisis and support spending on health and social benefits to limit the human costs of COVID-19.”