Haiti Debt Relief


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Delivering on Debt Relief


Book Description

This study brings readers up to date on the complicated and controversial subject of debt relief for the poorest countries of the world. What has actually been achieved? Has debt relief provided truly additional resources to fight poverty? How will the design and timing of the "enhanced Heavily Indebted Poor Country (HIPC) initiative" affect the development prospects of the world's poorest countries and their people? The study then moves on to address several broader policy questions: Is debt relief a step toward more efficient and equitable government spending, building better institutions, and attracting productive private investment in the poorest countries? Who pays for debt relief? Is there a case for further relief? Most important, how can the case for debt relief be sustained in a broader effort to combat poverty in the poorest countries?




The Haitian Revolution


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Toussaint L’Ouverture was the leader of the Haitian Revolution in the late eighteenth century, in which slaves rebelled against their masters and established the first black republic. In this collection of his writings and speeches, former Haitian politician Jean-Bertrand Aristide demonstrates L’Ouverture’s profound contribution to the struggle for equality.




Haiti: The Aftershocks of History


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A passionate and insightful account by a leading historian of Haiti that traces the sources of the country's devastating present back to its turbulent and traumatic history Even before the 2010 earthquake destroyed much of the country, Haiti was known as a benighted place of poverty and corruption. Maligned and misunderstood, the nation has long been blamed by many for its own wretchedness. But as acclaimed historian Laurent Dubois makes clear, Haiti's troubled present can only be understood by examining its complex past. The country's difficulties are inextricably rooted in its founding revolution—the only successful slave revolt in the history of the world; the hostility that this rebellion generated among the colonial powers surrounding the island nation; and the intense struggle within Haiti itself to define its newfound freedom and realize its promise. Dubois vividly depicts the isolation and impoverishment that followed the 1804 uprising. He details how the crushing indemnity imposed by the former French rulers initiated a devastating cycle of debt, while frequent interventions by the United States—including a twenty-year military occupation—further undermined Haiti's independence. At the same time, Dubois shows, the internal debates about what Haiti should do with its hard-won liberty alienated the nation's leaders from the broader population, setting the stage for enduring political conflict. Yet as Dubois demonstrates, the Haitian people have never given up on their struggle for true democracy, creating a powerful culture insistent on autonomy and equality for all. Revealing what lies behind the familiar moniker of "the poorest nation in the Western Hemisphere," this indispensable book illuminates the foundations on which a new Haiti might yet emerge.




Haiti


Book Description

This paper focuses on Haiti’s Poverty Reduction Strategy Paper and 2014–2016 Three-Year Investment Program. The Haiti Strategic Development Plan presents the new framework for the planning, programming, and management of Haitian development, the vision and the strategic guidelines for the country’s development, and the four major work areas to be implemented to ensure the recovery and development of Haiti. The Three-Year Investment Program, 2014–2016 (PTI 2014–2016) concerns implementation of the Strategic Plan for Development of Haiti and more specifically implementation of the government’s priorities for the period.




Haiti


Book Description

The staff report on Haiti’s second and third reviews under the Extended Credit Facility is examined. Haiti has emerged from a protracted and tumultuous electoral period. The reconstruction is under way, albeit at a slower pace than anticipated, owing mainly to the protracted electoral agenda and Haiti’s limited administrative and absorptive capacity. The damage caused by the earthquake has been massive, estimated at the equivalent to 120 percent of GDP. The authorities need to sustain high growth, alleviate poverty, and strengthen the country’s resilience to external shocks.




Haiti in the Balance


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A Brookings Institution Press and the National Academy of Public Administration publication Even after years of receiving considerable foreign aid, Haiti remains an impoverished, tremendously fragile state. Over a span of ten years, the United States spent over $4 billion in aid to Haiti, yet the average Haitian still has to survive on one dollar a day. Why has assistance been so ineffectual, and what can we learn from Haiti's plight about foreign aid in general? Haiti in the Balance tackles those questions by analyzing nearly twenty years of Haitian history, politics, and foreign relations. Terry Buss and his colleagues at the National Academy on Public Administration found a general failure to reinforce the capacity of institutions at all levels of Haitian government. Building up that system of institutions appears to be a necessary precursor to a nation using foreign aid in the most effective manner. Such an effort demands improved security, a more professional (and less corrupt) bureaucracy, and eventually decentralization and perhaps even some privatization. Different levels of government must be willing to learn how best to work with one another: according to Buss, "Haitian governments seemed consumed by politics, rather than good governance." People still matter, and so does administration. Until we learn that lesson, even the most generous foreign aid will not fulfill its intent.




Haiti


Book Description

Haiti has been hit hard by the global food price shock. In September 2022, food inflation reached 44 percent, with rice inflation nearly 70 percent. With more than half the population already below the poverty line, Haiti faces a dire humanitarian crisis, with an expected financing gap in FY2023 of at least US$105 million (0.5 percent of GDP), assuming import compression and pending additional external financing from development partners. This shock compounds the hardships of an already highly fragile country—also suffering a public health emergency (cholera) and serious security risks. In line with global trends and also due to an escalation of violence, the macroeconomic situation has been more challenging relative to the outlook in June 2022, at the time of the approval of the Staff Monitored Program (SMP). That said, recent data suggest that the authorities are making meaningful efforts to overcome the multiple challenges facing the country and the First Review of the SMP was approved by IMF Management on December 21, 2022.




Global Waves of Debt


Book Description

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.




Fixing Haiti


Book Description

Haiti may well be the only country in the Americas with a last name. References to the land of the "black Jacobins" are almost always followed by the phrase "the poorest country in the Western Hemisphere". To that dubious distinction, on 12 January 2010 Haiti added another, when it was hit by the most devastating natural disaster in the Americas, a 7.0 Richter scale earthquake. More than 220,000 people lost their lives and much of its vibrant capital, Port-au-Prince, was reduced to rubble. Since 2004, the United Nations has been in Haiti through MINUSTAH, in an ambitious attempt to help Haiti raise itself by its bootstraps. This effort has now acquired additional urgency. Is Haiti a failed state? Does it deserve a Marshall-plan-like program? What will it take to address the Haitian predicament? In this book, some of the world's leading experts on Haiti examine the challenges faced by the first black republic, the tasks undertaken by the UN, and the new role of hemispheric players like Argentina, Brazil and Chile, as well as that of Canada, France and the United States.