Western Hemisphere > Haiti

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International Monetary Fund. Western Hemisphere Dept.
Since 2018, Haiti has experienced a protracted political crisis, repeated country lock-downs and civil unrest, an earthquake, the assassination of its president and a deep recession. Policymakers face economic imbalances, a surge in gang violence, worsening poverty conditions, and dire social challenges aggravated by years of political instability.
Mr. Serhan Cevik and Tianle Zhu
Monetary independence is at the core of the macroeconomic policy trilemma stating that an independent monetary policy, a fixed exchange rate and free movement of capital cannot exist at the same time. This study examines the relationship between monetary autonomy and inflation dynamics in a panel of Caribbean countries over the period 1980–2017. The empirical results show that monetary independence is a significant factor in determining inflation, even after controlling for macroeconomic developments. In other words, greater monetary policy independence, measured as a country’s ability to conduct its own monetary policy for domestic purposes independent of external monetary influences, leads to lower consumer price inflation. This relationship—robust to alternative specifications and estimation methodologies—has clear policy implications, especially for countries that maintain pegged exchange rates relative to the U.S. dollar with a critical bearing on monetary autonomy.
International Monetary Fund. External Relations Dept.
Inflation, IMF work agenda, Food and fuel prices, Commodity price surge, Oil price surge, Jeddah meeting, Haiti interview, Norway's sovereign wealth fund, Mexico, Switzerland's monetary policy, Mauritius, News briefs.
International Monetary Fund. External Relations Dept.
La inflación, Programa de trabajo del FMI, El precio de las materias primas, Impacto en África, Qué empuja el petróleo al alza, Reunión petrolera de Yeddah, Entrevista sobre Haití, El fondo soberano de Noruega, México, La política monetaria de Suiza, Mauricio, Notas breves
International Monetary Fund. External Relations Dept.
L'inflation, Programme du FMI, Envolée des prix des produits de base, impact sur les économies africaines, Causes de la flambée du pétrole, Réunion de Djeddah sur le pétrole, Haïti, Fonds souverain norvégien, Mexique, Suisse: politique monétaire, Maurice, l'actualité en bref
International Monetary Fund
This paper discusses key findings of the Third Review Under the Poverty Reduction and Growth Facility (PRGF) for Haiti. Despite external shocks, program performance was solid in the first half of FY2008, with all but one quantitative performance criteria (PC) met. Most structural conditionality was also met on time, although two PCs require waivers. The authorities’ revised program through end-September is based on a policy response that balances adjustment and financing, and safeguards macroeconomic stability. IMF staff supports the authorities’ response to the shocks.
International Monetary Fund
This Selected Issues paper analyzes Haiti’s external competitiveness. The analysis shows that the country has been experiencing equilibrium real exchange rate appreciation pressures, which have originated more recently from the rising inflow of transfers. The paper discusses avenues for further developing Haiti’s monetary policy framework to help consolidate a stable low-inflation environment and support deepening domestic financial markets. The analysis suggests that Haiti’s monetary policy regime could be strengthened through a two-step approach. The paper also focuses on options to increase domestic revenues as a means of funding priority expenditures.