Haiti: Staff-Monitored Program-Press Release; and Staff Report
IMF Staff Country Reports, July 1, 2022
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- Haiti: Staff-Monitored Program-Press Release; and Staff Report
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Bibliographic details
- Published: July 1, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400216008.002
Overview and Rationale
- It is not feasible for Haiti to implement an upper credit tranche (UCT) IMF-supported program at this time due to the weakened policy frameworks and erosion in administrative capacity during the protracted crisis.
- The proposed Staff-Monitored Program (SMP) would help build capacity, support efforts to reduce inflation and raise growth, strengthen fiscal and monetary policy frameworks, address governance weaknesses and combat corruption, and take concrete steps to strengthen social assistance.
- A successful SMP is needed to build a track record of policy implementation that would improve Haiti’s prospects for a UCT program.
Program duration and framing
- Proposed SMP ending May 31, 2023.
Key policy recommendations — Fiscal and revenue measures
- Mobilize revenues and strengthen public finance management.
- Notable tax and excise measures:
- Higher tobacco excises.
- Higher alcohol excises.
- Higher car excises.
- Expand and simplify the tax base.
- Strengthen expenditure management and controls.
Key policy recommendations — Monetary and exchange rate framework
- Strengthen the framework for monetary and exchange rate policies by clarifying the objectives and modalities for:
- Liquidity operations.
- Foreign exchange rate operations.
- Support efforts to reduce inflation and raise growth through clearer monetary and exchange rate policy modalities.
Governance, transparency, and social protection
- Address governance weaknesses and combat corruption as central program objectives.
- Take concrete steps to strengthen social assistance.
Preconditions and sequencing toward a UCT program
- Build administrative capacity and a track record of policy implementation under the SMP to improve prospects for a future UCT IMF-supported program.
Publication and document metadata (selected)
- Pages: 95
- Volume: 2022
- Issue: 207
- Series: Country Report No. 2022/207
- DOI: https://doi.org/10.5089/9798400216008.002
- Stock No: 1HTIEA2022001
- ISBN: 9798400216008
- ISSN: 1934-7685
- Publication date on landing page: July 1, 2022
Haiti: Staff-Monitored Program-Press Release; and Staff Report (July 1, 2022).
Content in this bundle
- Haiti Staff-Monitored Program