Haiti: First Review Under the Staff-Monitored Program-Press Release; and Staff Report

This paper highlights the First Review under the Staff-Monitored Program (SMP). The SMP takes into account Haiti’s fragility and capacity constraints, linked to security. Haiti faces a multidimensional crisis with a challenging outlook which is highly uncertain. The country is affected by both global and country-specific shocks, which have worsened its fragility, since the negotiation of the SMP. It is designed to support the authorities’ economic policy objectives and build a track record of reform implementation. Fund management welcomes the authorities’ publication of the Governance Diagnostic Report. A government-led strategy to continue to strengthen the economy’s resilience to multiple shocks requires the financial support of the international community. This assistance is indispensable to allow quality spending, over the short, medium, and long term. Without it, Haiti will continue to suffer large import compression. In line with the Fund Strategy for Fragile and Conflict-Affected States, IMF staff will also continue to coordinate closely with Haiti’s main development partners, particularly on governance and capacity development.