Thursday, June 30, 2022, on the sidelines of the signing of the agreement on a financial monitoring program between the Haitian Government and the International Monetary Fund (IMF) https://www.haitilibre.com/en/news-37034-haiti-economy-the-imf-puts-haiti-under-surveillance-until-may-2023.html , Michel Patrick Boisvert the Minister of Economy and Finance during a joint press conference, evoked a gradual adjustment of price of petroleum products at the pump.

He explained that the Government could no longer continue to support the fuel subsidy (between 7 and 9 billion gourdes per month), i.e. twice the amount of the salaries of public service employees, stressing that the global tensions linked to the war between Russia and Ukraine affects the rise in oil prices on the world market, to which is added the depreciation of the Gourdes which means that today, it takes twice as many Gourdes to buy the same quantity of oil.

If Minister Boisvert speaks of an inevitable decision, he assures that it will be gradual adjustments and not 100% increases as in December 2021 hhttps://www.haitilibre.com/en/news-35425-haiti-flash-fuel-prices-will-explode-at-the-pump-official.html specifying the establishment of social programs for the most vulnerable to mitigate the impact of rising prices, "afterwards, adjustments will be made gradually," adding that no date had been set and that the Government will act as soon as the conditions are met.

SL/ HaitiLibre