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Haiti - Politic : New Decree authorizing payments in dollars on the Haitian territory
11/10/2018 11:15:20

Haiti - Politic : New Decree authorizing payments in dollars on the Haitian territory
In view of the continuous collapse of Gourdes in relation to the US dollar to 72.50 gourdes for one dollar, the Government decided to backtrack and report the decree published in the official newspaper "Le Moniteur N°38" dated Thursday March 1, 2018 prohibiting dollar payments throughout the national territory http://www.haitilibre.com/en/news-23701-haiti-politic-obligation-to-carry-out-all-commercial-transactions-in-gourdes.html , a responsible decree according to several experts of the even more difficult situation of the economy.

In the new decree published on Tuesday 9 October in the official journal Le Moniteur

The new Article 1 stipulates "The present decree carries the obligation of labeling and displaying the prices of goods and services in the territory in the national currency."

The old article stipulated "Article 1. This Order obligate to denominate/label commercial transactions in the territory in the national currency."

The new Article 2 stipulates: "Foreign exchange transactions are carried out through authorized financial institutions, in accordance with the law.

Former Article 2 stipulated "The Gourde is the only currency in the country. All commercial transactions on the national territory are payable in the national currency."

The new Article 3 states "No payment of a transaction by means of the gourde can be refused"

Former Article 3 stipulated "All contracts for valuable consideration concluded by the Haitian State with third parties are denominated and paid in Gourde, in accordance with the laws of finance."

The new Article 4 states "Coercive measures shall be taken to enforce these provisions".

Former Article 4 stipulated "It is forbidden to claim from anyone the payment in foreign currency or its equivalent in gourde for transactions whose payment is made in the territory."

The new Article 5 stipulates "The decree of February 28, 2018, imposing the obligation to make and carry out the commercial transactions on the territory in the national currency which is the gourde, is reported".

Former Article 5 stipulated "The prices of goods and services are compulsorily and only displayed and paid in gourde."

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