by debt

“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt." John Adams 1826. Where do we go from here? 

 Risks facing Haiti are diverse. Persistent weaknesses in administrative and absorptive capacities, continued political instability with a new round of elections, and delays in implementing critical reforms to enhance transparency, governance, and public financial management could reduce international support, complicate program execution, and put the reconstruction and economic recovery at risk. Additionally, Haiti continues to be vulnerable to natural disasters and to global downside risks which could reduce grants from donors, exports, and remittances. Finally, debt vulnerabilities remain a risk, as the last DSA (IMF Country Report 12/74) concluded that Haiti's debt continues to be assessed as high risk. However, the current level of official reserves which is relatively high, covering more than five months of imports, could provide a reasonable buffer. Moreover, a further pick up in the reconstruction effort, together with a steady implementation of the public investment program and ongoing structural reforms, could pave the way for higher growth.