LatinNews Daily Report - 03 April 2013

ECONOMY | IMF publishes Haiti review. On 2 April the International Monetary Fund (IMF) published the results of its Article IV Consultation with Haiti and its fifth review under the extended credit facility.  The IMF summed up the ‘context’ of the review by concluding that “the business environment remains unattractive and the political situation tense”.  It does expect a “firmer recovery” in 2013, with “promising” medium-term prospects.  However it cautions, “the risks to the outlook are on the downside”, due to “a further slowdown in the world economy, a volatile political environment, a fragile social context, and continued weak capacity”.  The Haitian economy contracted 5.4% in FY2010 following the earthquake. It expanded 5.6% in FY2011, but this bounce back fell to 2.8% in FY2012.  For FY2013, the IMF is projecting growth of 6.5% on the back of several large public investment projects and a rebound in the agriculture sector, which was affected by drought in 2012.

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