Haiti - Economy : «Facilitate access to credit to the greatest number» (Dixit Laurent Lamothe) - HaitiLibre.com : Haiti news 7/7





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Haiti - Economy : «Facilitate access to credit to the greatest number» (Dixit Laurent Lamothe)
11/04/2013 10:55:08

Haiti - Economy : «Facilitate access to credit to the greatest number» (Dixit Laurent Lamothe)
In his opening speech at the 3rd Summit on Finance and Applied Technology, organized by the observatory financial of Group Croissance, from 9 to 12 April 2013 https://www.haitilibre.com/en/news-8299-haiti-economy-3rd-edition-of-the-summit-on-finance-and-applied-technology.html the Prime Minister, Laurent Lamothe insisted on the access to credit and the necessity of finding solutions able to facilitate the credit to the greatest number.

"[...] While I welcome the theme of this year [Strengthen financial governance in Haiti] allow me to suggest another to the CEO of Group Croissance for the next year maybe. 'How to facilitate access to credit to the larger number of economic agents ?' On this specific topic, I would like to inform you that I have recently initiated a serious dialogue with key stakeholders, including commercial banks and the Central Bank.

The President Martelly made of the access to credit a priority of his five years. This objective is clearly stated in my policy statement. My Government is aware that a collaboration with financial institutions is essential to move forward on this issue. This is why I personally met a few days ago, accompanied by the Governor of the Central Bank, the presidents of the country's financial institutions. I am pleased with the frank collaboration that marked the first meeting. I do not doubt of our ability to find TOGETHER of solutions to facilitate access to credit to the greatest number.

In this regard, I recall that even when the private sector credit grew by 29% and 31% respectively in 2011 and 2012. The ratio of total loans on total deposits for the same period increased from 29% to 37%. This is a good sign.

Of course, this performance is the result of a deliberate policy of the Central Bank, aided by fiscal management and a favorable international context, to keep interest rates low without compromising the stability of the gourde.

However, we must do better... We can do better !

Indeed, in spite of these positive developments I have just mentioned, most current credits focus on trade financing, of imports with low value added and thus having little impact on the growth and sustainable job creation. However, my government research growth in the medium term because we must make of Haiti a country emerging in 2030. This is an ambitious goal, and we must take steps as soon as possible to initiate the growth we so desperately need.

Today, we all know the challenges and risks associated with new credit. I mean :

- The lack of pockets industrial and touristic (such as Caracol and Labadee) ;
- Quality of title ;
- Low income ;
- The informal nature of economic activity and the problem of identifying the population ;
- The limits at the level of moveable guarantees (non-possessory pledge, leasing, etc...);
- The absence of an information bureau on credit.

The list goes on. It will take time to resolve some of these problems more structural.

The objectives of inclusive growth passes through the implementation of a package of immediate measures that can facilitate the access to credit. This challenge is one of the largest ahead. Shortly, I hope to receive a working group, which will be established and coordinated by the Governor of the BRH and the Council of Economic and Social Development, the recommendations of concrete measures and rapid able to expand access to credit. Be assured that the Government will make every effort to implement the recommendations of the Working Group.

See also :
https://www.haitilibre.com/en/news-8310-haiti-news-some-news-here-and-there.html
https://www.haitilibre.com/en/news-8299-haiti-economy-3rd-edition-of-the-summit-on-finance-and-applied-technology.html

HL/ HaitiLibre

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