Press Release: Statement by the IMF mission chief for Haiti on the impact of higher food prices

IMF News, April 25, 2008

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Canonical URL: Press Release: Statement by the IMF mission chief for Haiti on the impact of higher food prices

Haiti is described as a "large net importer of food."
The mission chief stated: "Haiti has been particularly affected by the sharp rise in international prices, which continues to impose enormous hardship on the country's population."
The shock has had a "significant impact on domestic inflation" and "caused a widening of the trade deficit."
The IMF expressed being "deeply concerned about the social impact of higher food prices."

The IMF is "firmly committed to support efforts to ease this burden, while safeguarding economic stability and maintaining focus on continued economic and social progress in Haiti."
The IMF supports the government's response strategy that seeks to:
- provide immediate relief from higher food prices
- boost agricultural output
The IMF is "working closely with donors and the authorities to review Haiti's need for increased financial assistance."
The IMF will "adapt the macroeconomic framework of the PRGF-supported program to reflect the external shock."

"An IMF mission team will travel shortly to Haiti to finalize this work and conduct the third review of the program."

Source: Press Release No. 08/91, April 25, 2008, International Monetary Fund.