Haiti by International Monetary Fund. Western Hemisphere Dept.

Full Title: Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti
Author/Editor(s): International Monetary Fund. Western Hemisphere Dept
ISBN: 1498378323, 9781498378321
Publisher: International Monetary Fund
Published Place: Washington, D.C.
Published/Copyright Year: 2015
Language: English
Series: IMF Staff Country Reports: Country Report No. 15/3
IMF ELibrary
Number of pages: 1 online resource (50 pages)
Categories:
Commercial Banks
Economic Indicators
Extended Credit Facility
Financial Management
Fiscal Consolidation
Fiscal Policy
Fiscal Reforms
Letters Of Intent
Monetary Policy
Performance Criteria Waivers
Press Releases
Staff Reports
Haiti


Content:
EXECUTIVE SUMMARY This is the final review under the Extended Credit Facility (ECF) arrangement. The program contributed to maintaining macroeconomic stability, and there was progress on structural reforms. The authorities intend to request a successor arrangement under the ECF. A new finance minister was appointed in April; uncertainly remains on the timing of elections. Preliminary data suggest that GDP in FY2014 grew by 3.54 percent, while inflation increased slightly to about 5 percent. An increase in fuel prices (in October) should result in fiscal savings of at least 1 percent of GDP during FY2015. The March performance criterion on net international reserves (NIR) was met, but although the deficit was lower than projected, the performance criterion on net central bank credit to the central government was missed. Downside risks are significant and include a pull-back of Venezuela-related flows, a resumption of political tensions, and vulnerability to weather events. A total of SDR 1.638 million will become available upon completion of this review, bringing total disbursements under the ECF to SDR 40.950 million. Key Policy Recommendations: #x2022; The policy mix, in particular the adjustment going forward, should come from a lower fiscal deficit rather than from a tighter monetary policy. The FY2015 fiscal deficit should be reduced to mitigate financing risks as part of a medium-term plan to restore fiscal sustainability.  The central bank should let the exchange rate adjust more to market pressures. Intervention should be parsimonious, geared at avoiding excess volatility and disorderly movements in the exchange rate; it should be guided by fundamentals in the medium term. #x2022; Progress on structural reforms (including on the energy sector and on public financial management) should catalyze more donor support and is essential for supporting growth. A possible new ECF arrangement would entrench macroeconomic stability and promote policies to generate sustained GDP growth.

Electronic Resources:
http://hdl.library.upenn.edu/1017.12/1521925

ISBNPlus ID: UPE.BD102.21658-11-2208698
Form: Nonfiction
Released Date: 20151203

Download BiBTeX of this book (.bib)
@book{isbnplus9781498378321,
 title={Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti},
 author={International Monetary Fund. Western Hemisphere Dept},
 isbn={9781498378321},
 series={IMF Staff Country Reports: Country Report No. 15/3},
 url={http://isbnplus.org/9781498378321},
 year={2015},
 publisher={International Monetary Fund},
 address={Washington, D.C.}
}
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%0 Book
%T Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti
%A International Monetary Fund. Western Hemisphere Dept
%@ 9781498378321
%U http://isbnplus.org/9781498378321
%D 2015
%I International Monetary Fund
%C Washington, D.C.
Download 9781498378321.enw
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TY  - BOOK
T1  - Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti
A1  - International Monetary Fund. Western Hemisphere Dept
SN  - 9781498378321
T3  - IMF Staff Country Reports: Country Report No. 15/3
UR  - http://isbnplus.org/9781498378321
Y1  - 2015
PB  - International Monetary Fund
CY  - Washington, D.C.
ER  - 
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APA Style:
International Monetary Fund. Western Hemisphere Dept (2015). Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti. Washington, D.C.: International Monetary Fund.

MLA Style:
International Monetary Fund. Western Hemisphere Dept. Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti. Washington, D.C.: International Monetary Fund, 2015. Print.

Chicago Style:
International Monetary Fund. Western Hemisphere Dept. Haiti: Eighth Review Under The Extended Credit Facility And Request For Waiver Of Nonobservance Of Performance Criterion-Staff Report; Press Release; And Statement By The Executive Director For Haiti. Washington, D.C.: International Monetary Fund, 2015.