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Haiti - Economy : The dollar soon back as payment in Haiti
05/10/2018 10:57:48

Haiti - Economy : The dollar soon back as payment in Haiti
Since the presidential decree published on March 1, 2018 prohibiting payment in a currency other than Gourde on the national territory, https://www.haitilibre.com/en/news-23701-haiti-politic-obligation-to-carry-out-all-commercial-transactions-in-gourdes.html and after evaluation https://www.haitilibre.com/en/news-23720-haiti-economy-transactions-in-gourdes-the-economic-forum-writes-to-the-minister-of-commerce.html it seems that this decision did not have the beneficial effect decided but on the contrary it only increased the pressure on the US dollar and contribute to the devaluation of the Gourde, which reached Thursday, October 4, 2018 71.35 Gourdes for one US dollar (average BRH acquisition rate).

Moreover this decision according to the analysis of the Government instead of bringing solutions on the cost of the life, had on the contrary an impact on the expensive life. In view of this, the Government should publish soon a new decree according Guichard Doré Advisor to the Head of State, which will modify inter alia articles 2 and 5 which stipulated :

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

Article 5 : The prices of goods and services are compulsorily and only displayed and paid in gourde

Modifications that will allow consumers without obligation on their part and their choice to pay their purchases in gourdes or dollars.

This new decree could also include the exemption of oil companies forced to pay in Gourdes the Bureau of Monetization of Development Assistance Programs (BMPAD) since the publication of this decree, which causes very significant delay to convert a considerable volume Gourdes in several millions of dollars, for the purchase of fuel internationally.

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