Haiti - Economy : The bill voted, strongly increasing the minimum wage, concerns the IFC (World Bank)
"[...] I send you this correspondence to share with you, our concern about the potential impact of a possible significant change in the law fixing the minimum wage of industrial and commercial establishments, as approved by the Chamber of Deputies https://www.haitilibre.com/en/news-27295-haiti-politic-revised-minimum-wages-according-to-the-bill-voted-by-the-deputies.html
[...] As soon as this vote was announced [...] we were able to gather the first observations concerning the real risk of deterioration of the operations of several companies in the industrial and commercial sectors faced a sudden and significant increase in the cost of their workforce [...]"
Adding that some companies, following this news, "have already announced an increase in the price of their products, a precursor to rising inflation. Several of these companies and employers' associations in the private sector in Haiti have expressed their fear that a substantial increase in the minimum wage could lead not only to the loss of many jobs, but also to the decline in the competitiveness of the Haitian economy..."
Recalling to the Minister December that IFC is "committed to supporting the Haitian government's policy in its strategy of creating and maintaining productive jobs [...]" adding that IFC teams are "dedicated to supporting sector players local and international of private sector in the perspective of a strong growth of the national economy and of a sustainable development for the most vulnerable populations for a reduction of poverty."
"In our humble opinion, a consultation of stakeholders in the sectors concerned would undoubtedly be better, to determine the direct and indirect impacts of this change [...] any change should allow at least the preservation of economic and social benefits, and should not lead to serious disputes that would be detrimental to the country and likely to limit or curb the popularity of the local and international private sector for new investments in the medium, medium and long term [...]"
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