1 Read eBook for: haiti joint staff advisory note of the poverty reduction strategy paper [PDF]

Author: World Bank. Latin America and the Caribbean Regional Office. Caribbean Country Management Unit
Publisher:
ISBN:
Size: 29.47 MB
Format: PDF, Kindle
Category : Human services
Languages : en
Pages : 129
View: 6240

This joint staff advisory note (JSAN) reviews the first progress report (PR) of the poverty reduction strategy paper (PRSP) prepared by the Government of Haiti. The overall strategic priorities are structured around three pillars: (i) enhancing human development, with a focus on improving delivery of basic services; (ii) improving security and the justice system; and (iii) promoting vectors of growth through agriculture and rural development, tourism, and infrastructure. The Document de Strategie Nationale pour la Croissance et la Reduction de la Pauvrete (DSNCRP) also emphasizes the importance of a stable macroeconomic framework and sound management of public resources. In April 2008, Haiti experienced riots over rising food and fuel prices which prompted the resignation of the Prime Minister and led to a five-month political stalemate that severely constrained government operations, including the approval of key economic legislation and the FY2009 budget. Subsequently Haiti was also hit by four back-to back hurricanes and tropical storms in August-September, which have caused extensive food shortages with 60 percent of the fall harvest destroyed. Distribution networks, transportation, and housing were badly destroyed and damage to infrastructure is estimated at about 15 percent of gross domestic product (GDP). Twelve-month inflation peaked at 19.8 percent in September 2008, up from 7.9 percent a year earlier, but declined to 10.1 percent by end- December and to 1 percent by end-March 2009, owing to rapidly falling international food and fuel prices. After some small depreciation earlier in the year, the real effective exchange rate appreciated by about 5 percent during the last quarter of FY 2008, while the Gourde remained broadly stable against the U.S. dollar. Overall performance against Poverty Reduction and Growth Facility (PRGF) program targets at end-September 2008 was generally satisfa.