Haiti’s debt of more than 200 billion Gourdes

Haiti - Economy : A debt of more than 200 billion Gourdes

As of March 31, 2017, Haiti had a cumulative debt of more than 200 billion Gourdes, ie nearly 39% of the Gross Domestic Product (more than 58 billion internal debts and more than 141 billion external) according to the Ministry of Economy and Finance.

For 40 years Haiti’s debt has had no effect on economic growth. From 1976 to 2008, the debt grew by 10.37% on average each year, while the Gross Domestic Product (GDP) grew only 0.76%. The absence of a positive effect would have for cause, according to the Banque de la République (BRH) multiple factors such as social and political unrest, recurring natural shocks, unproductive investments, poor decisions, falling oil revenues aggravated by the subsidy of fuels by the Haitian state and the devaluation of our national currency.

At the level of the internal debt (Treasury bills), the creditors are mainly BRH and commercial banks.

External debt is divided between bilateral creditors Venezuela (main creditor) and Taiwan and multilateral creditors: International Monetary Fund (IMF) and the Inter-American Development Bank (IDB).

But the State is also indebted to companies and service providers for more than 2 billion Gourdes in addition to unpaid bill as with EDH, nearly one billion Gourdes for the supply of electricity, this adds up to about 20 million dollars in arrears to companies that carry out projects in Haiti.

A national debt, which keeps growing while the growth of government revenues, other than those promises, is still awaited…

SL/ HaitiLibre


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