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Haiti : Public Expenditure Management and Financial Accountability Review

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  • World Bank
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    Abstract

    Haiti made good progress over the past three years but major challenges remain to accelerating growth and reducing poverty. After the lost decade 1994-2004, marked by political instability and economic decline, Haiti reformed significantly and revived growth, especially in the past three years. Macroeconomic policies implemented since mid-2004 helped restart economic growth, reestablish fiscal discipline, reduce inflation and increase international reserves. Financial sector stability has been maintained though weaknesses have emerged. Significant progress was also achieved in the implementation of economic governance measures, mainly in the area of legal framework, core public institutions and financial management processes and procedures. Notably, basic budget procedures were restored, the public procurement system strengthened, and anti-corruption efforts stepped up. Efforts were also made to improve efficiency and transparency in the management of public enterprises. This wave of reforms led to renewed confidence and translated into higher growth. Real Gross Domestic Product (GDP) is estimated to have grown by 2.3 percent in FY2006, implying an increase of about 0.6 percent in per capita GDP, compared to -0.2 percent in FY2005. The successful implementation of its stabilization program helped Haiti benefit from a three year International Monetary Fund (IMF) - Poverty Reduction and Growth Facility (PRGF) supported program. In addition, in November 2006, Haiti qualified for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative by reaching the decision point under the initiative.

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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 6469 and published in 2008.

    ISBN: 978-0-8213-7591-4
    Handle: RePEc:wbk:wbpubs:6469

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    Postal: 1818 H Street, N.W., Washington, DC 20433
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    Web page: https://openknowledge.worldbank.org
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    Keywords: Public Sector Economics Public Sector Expenditure Policy Finance and Financial Sector Development - Debt Markets Governance - National Governance Public Sector Development;

    References

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    1. Xavier Debrun & Peter S. Heller & Theo Thomas & Menachem Katz & Isabell Adenauer & Taline Koranchelian, 2006. "Making Fiscal Space Happen," IMF Working Papers 06/270, International Monetary Fund.
      • Peter S. Heller & Menachem Katz & Xavier Debrun & Theo Thomas & Taline Koranchelian & Isabell Adenauer, 2006. "Making Fiscal Space Happen!," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 7(3), pages 89-132, July.
    2. Agénor, Pierre-Richard & Aizenman, Joshua, 2010. "Aid volatility and poverty traps," Journal of Development Economics, Elsevier, vol. 91(1), pages 1-7, January.
    3. César Calderón & Luis Servén, 2004. "The Effects of Infrastructure Development on Growth and Income Distribution," Working Papers Central Bank of Chile 270, Central Bank of Chile.
    4. McGuire, James W., 2006. "Basic health care provision and under-5 mortality: A Cross-National study of developing Countries," World Development, Elsevier, vol. 34(3), pages 405-425, March.
    5. John Weeks & Terry McKinley, 2006. "Does Debt Relief Increase Fiscal Space in Zambia? The MDG Implications," Country Study 5, International Policy Centre for Inclusive Growth.
    6. A. Javier Hamann & Ales Bulir, 2006. "Volatility of Development Aid," IMF Working Papers 06/65, International Monetary Fund.
    7. Verner, Dorte, 2008. "Labor markets in rural and urban Haiti--based on the first household survey for Haiti," Policy Research Working Paper Series 4574, The World Bank.
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