Haiti: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Haiti
IMF Staff Country Reports, December 10, 2024
Source details
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- Haiti: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Haiti
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Bibliographic details
- Published: December 10, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400294396.002
Crisis overview
- Haiti faces an "unprecedented multidimensional crisis encompassing humanitarian, economic, social, and security problems."
- The economy has a "low tax base and a large informal sector that relies heavily on volatile remittance flows."
- The supply-side shock caused by the security crisis "would continue to greatly affect growth and feed inflation unless the security outlook improves."
Macroeconomic outlook and risks
- The macroeconomic outlook is described as "challenging and subject to elevated uncertainty."
- Key risk channel highlighted: ongoing security-related supply-side disruptions that lower growth and sustain inflation.
Analytical work and focus
- Analytical work underpinning policy discussions was "prepared by staff in agreement with the authorities."
- The analytical focus is on "strengthening policy frameworks to enhance resilience."
Policy recommendations and fiscal stance
- Implement the budget for FY2025.
- Keep the monetary financing of the budget "to zero, consistent with the objective of price stability."
- Adopt measures to strengthen:
- revenue collection,
- expenditure management and controls,
- budget allocations for social spending and for protecting the most vulnerable—and assess their impact.
Data, transparency, and reporting
- Recommendation to "provide more timely data to the IMF."
- Recommendation to "enhance data transparency through timeline publication of core economic data."
Haiti: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Haiti
Content in this bundle
- 1htiea2024002-print-pdf