## IMF Releases Report on Haiti's Rapid Credit Facility

_IMF News, February 6, 2017_

## Source details

**Canonical URL:** [IMF Releases Report on Haiti's Rapid Credit Facility](https://www.imf.org/en/news/articles/2017/02/06/pr1737-haiti-imf-releases-report-on-rapid-credit-facility)

## Other formats

- [Markdown version](/en/news/articles/2017/02/06/pr1737-haiti-imf-releases-report-on-rapid-credit-facility/index.md)
- [Structured JSON version](/en/news/articles/2017/02/06/pr1737-haiti-imf-releases-report-on-rapid-credit-facility/index.json)
- [Bundle manifest](/en/news/articles/2017/02/06/pr1737-haiti-imf-releases-report-on-rapid-credit-facility/bundle-manifest.json)

## Bibliographic details
- Published: February 6, 2017

---

### Summary of action
- The IMF released the staff report prepared in connection with the approval of the Rapid Credit Facility (RCF) for Haiti in the wake of Hurricane Matthew.
- On November 18, 2016, the Board approved Haiti’s request for a disbursement of 30.7125 million SDR (about US$41.6 million) in financial assistance under the RCF to help with urgent balance of payments needs following the Category 4 hurricane that struck the nation on October 4.

### Macroeconomic developments since RCF approval
- Haiti has peacefully elected a new president, Jovenel Moise, who is due to be inaugurated February 7.
- With support of the RCF disbursement, the Banque de la République d’Haïti (BRH) has continued to rebuild its net international reserves.
- Pace of currency depreciation:
  - 25 percent year-on-year through September 2016
  - 17 percent year-on-year in December (10.5 percent quarter-on-quarter annualized rate)
- Consumer price index (CPI) inflation:
  - 12.5 percent in September 2016
  - 14.3 percent in December 2016
- Increases in food prices—due in part to the hurricane—contributed to the rise in CPI inflation.

### Challenges and outlook
- Haiti continues to face substantial challenges as a country with widespread development needs.
- The successful conclusion of the presidential election provides an opportunity to rebuild from the storm and to advance the reform agenda.
- The IMF looks forward to continuing to work with the Haitian authorities in designing policies to support the macroeconomic stability needed to boost economic growth.

### Media contact
- PRESS OFFICER: Raphael Anspach
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org

*Press Release No. 17/37, February 6, 2017.*

---


## References

- [Haiti and the IMF](http://www.imf.org/external/country/HTI/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2017/02/06/pr1737-haiti-imf-releases-report-on-rapid-credit-facility_