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Haiti - Washington : Summary of Haiti's participation in IMF and BM meetings 28/10/2024 09:36:05
These strategic exchanges are likely to strengthen Haiti's efforts to consolidate its financial stability, its institutional and regional relations, and promote inclusive and sustainable growth. "We had the opportunity to be heard," she said, before mentioning an important meeting of the "donors' table", organized by the Inter-American Development Bank (IDB) on behalf of the Haitian State, on Wednesday, October 23. "Prime Minister Garry Conille spoke via video conference at this donors' table and shared information on the evolution of the situation, his concerns and urged the international community to help us at different levels. I echoed his words by giving more details on the economic and social issues as well, the problems we are facing and also explained the efforts we are making, the measures we are putting in place to be able to meet the needs of the population from the 2024-2025 budget," explained Ketleen Florestal who reported on the security needs addressed by Haiti through its budget and explained the efforts to strengthen governance. Minister Florestal indicated that the impact assessment of the security crisis (2021-2024) was in the finalization phase. She specified "There were meetings with representatives of the private sector, civil society, financial institutions [...] it is essential to take into account the impact of the massive and uncoordinated repatriations of Haitian compatriots from the Dominican Republic which adds pressure on public finances. This new source of fragility would be likely to disrupt all the plans that we implement" The Minister stressed, on this occasion, that Haiti, a country in a fragile situation, manages to achieve an "extraordinary record" in terms of absorption. "We have proven our ability to implement and when we feel that we cannot do it, we use third-party institutions such as the Economic and Social Assistance Fund (FAES). The World Bank can attest, in the Latin America and Caribbean region, we have the best rating in terms of absorption capacity, in terms of portfolio implementation while we are the only country in the region in a fragile situation [...] The World Bank must also say this to all other donors. It is true that we have difficulties but we are doing our utmost." The Haitian delegation insisted on the need for technical and financial support to help the country emerge from the current crisis. "We had two meetings with the team working on Haiti at the IMF. The idea is to finish discussions on Article 4 and also for the new SMP (staff monitoring program). This is very important for us to have a macroeconomic policy framework, so that there are no slippages," said Ketleen Florestal. "For the IMF, we also want them to be aware that despite all the difficulties we are facing, we are committed to continuing fiscal discipline so as not to disrupt macroeconomic stability. This is what we are doing. They have also seen it in the figures. This is what is being done. There is also greater transparency in the management of public affairs." On Tuesday, October 22, Ronald Gabriel, Governor of the Bank of the Republic of Haiti (BRH), took part in several high-level meetings. He also participated in the meeting of Governors and Ministers of the Caribbean with the Managing Director of the International Monetary Fund, Ms. Kristalina Georgieva. Opportunities and challenges for growth as well as possibilities for strengthening regional economic relations were discussed. The delegation also met with Ms. Patrizia Tumbarello, IMF Mission Chief, to discuss key elements related to the assessment of Haiti’s economic trajectory, the conclusion of the Article IV consultation, technical assistance needs, and the next steps of the SMP. HL/ HaitiLibre
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