Haiti: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report

IMF Staff Country Reports, June 26, 2023

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Haiti: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report

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Bibliographic details

• Published: June 26, 2023
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798400246142.002

Overview and Program Purpose

• Presents Haiti’s Second Review under the Staff-Monitored Program (SMP).
• SMP objectives:
  • Restore macroeconomic stability.
  • Strengthen governance and fiscal transparency.
  • Advance governance reforms to enhance accountability through public finance management, revenue administration, data provision, and anti-corruption measures.
• Program design explicitly takes into account Haiti’s fragility and capacity constraints.

Key Findings and Progress

• The SMP has helped the government restore macroeconomic stability and strengthen governance and fiscal transparency.
• The SMP has played an important role in advancing decisive governance reforms to enhance accountability through:
  • Stronger public finance management.
  • Strengthened revenue administration.
  • Improved data provision.
  • Anti-corruption measures.
• The program has helped the authorities build a record of accomplishment of policy implementation.
• There has been significant progress on governance issues.
• The authorities have taken measures to strengthen accountability in the use of public resources and have boosted the transparency of public procurement for emergency resources.

Remaining Risks and Implementation Challenges

• Corruption and broader financial integrity risks need to continue to be effectively addressed.
• Fragility and capacity constraints remain relevant considerations for program design and implementation.

Policy Implications and Next Steps

• The Haitian authorities have expressed interest in another SMP.
• Another SMP should help:
  • Maintain macroeconomic stability.
  • Lock in and sustain recent approved reforms.
  • Further enhance economic resilience and governance.

Subject Tags and Keywords (as provided)

• Subjects: Budget planning and preparation, Energy subsidies, Expenditure, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration
• Keywords: Budget planning and preparation, economic policy objective, Energy subsidies, food price inflation, Global, Haiti's Staff-Monitored Program, IMF's transparency policy, management of the International Monetary Fund, policy reform, SMP staff report

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