Haiti: Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Augmentation of Access and Waiver of Nonobservance of Performance Criteria, and Request for Additional Interim Assistance Under the Enha

Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Requests for Augmentation of Access and Waiver of Nonobservance of Performance Criteria, and Request for Additional Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries-Staff Report; Press Release on the Executive Board Discussion; and Statement by the Executive Director fo

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 223

Publication date: July 2008

ISBN: 9781451817744

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Topics covered in this book

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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Policy - Social Services and Welfare , ISCR , CR , government , fuel price impact , PRGF arrangement , core inflation , petroleum price subsidy , oil price hike , Inflation , Debt service , Credit , Poverty reduction strategy , Global

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Summary

This paper discusses key findings of the Third Review Under the Poverty Reduction and Growth Facility (PRGF) for Haiti. Despite external shocks, program performance was solid in the first half of FY2008, with all but one quantitative performance criteria (PC) met. Most structural conditionality was also met on time, although two PCs require waivers. The authorities’ revised program through end-September is based on a policy response that balances adjustment and financing, and safeguards macroeconomic stability. IMF staff supports the authorities’ response to the shocks.