Business
Haiti rebuilds: economy continues to recover
Haiti’s economy has as a favourble outlook, and continues to recover, though economic and political risks remain, according to the International Monetary Fund (IMF).
The IMF’s Executive Board has completed the second and third reviews of Haiti’s performance under the Extended Credit Facility (ECF) Arrangement, allowing for the disbursement of about US$15.1 million.
Haiti’s ECF arrangement was approved on July 21, 2010, along with full relief on the country’s outstanding IMF debt of about US$274 million. Both are part of a strategy to support Haiti’s longer-term reconstruction plans.
“Haiti’s economy continues to recover,” said Naoyuki Shinohara, deputy managing director and Acting Chair. “The sustained efforts of the authorities and the international community have helped rekindle growth, keep inflation at single-digit levels and strengthen the fiscal and extended accounts.