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Haiti - Economy : The country has more than 227 billion gourdes of debt
29/10/2018 11:50:40

Haiti - Economy : The country has more than 227 billion gourdes of debt
According to the provisional data of the Bank of the Republic of Haiti (BRH), the amount of Haiti's external debt to its bilateral and multilateral creditors combined with that of the domestic debt, largely dominated by receivables towards the BRH, amounted to more than 227 billion gourdes (72 Gdes for 1 dollars), or more than 3.1 billion US dollars (3.166.97 million dollars). This is the highest amount of debt in Haiti for the period 2008-2018.

Venezuela, remains the main creditor of the Haitian State, with a debt of more than 1.8 billion dollars (1,852,000,000). On the other hand, Haiti owes Taiwan (Republic of China) $62.8 million and its multilateral creditors : International Fund for Agricultural Development (IFAD), International Monetary Fund (IMF), Organization of the Petroleum Exporting Countries, (OPEC) the total sum of 193.9 million.

Haiti's internal debt is estimated at $1.04 billion (BRH bulletin #6 https://www.haitilibre.com/en/news-24783-haiti-economy-situation-of-the-public-debt-in-haiti.html ). The inclusion by the Ministry of the Economy of the commitments of some town halls and other public institutions towards the pension fund partly explains the increase of this debt, but on the other hand, the financing needs of the State. continue to increase due to lower revenues and increased public spending. To cope with this situation, which has persisted since the beginning of the 2017-2018 fiscal year, the State borrowed more than 18 billion gourdes (18,860,980,000) from the BRH during the 2017-2018 fiscal year, the equivalent of ± $ 261 million.

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