Haiti : Public Expenditure Management and Financial Accountability Review

Haiti made good progress over the past three years but major challenges remain to accelerating growth and reducing poverty. After the lost decade 1994-2004, marked by political instability and economic decline, Haiti reformed significantly and revi...

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Main Author: World Bank
Format: Publication
Language:English
en_US
Published: Washington, DC : World Bank 2012
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2008/06/9660607/haiti-public-expenditure-management-financial-accountability-review
http://hdl.handle.net/10986/6469
id okr-10986-6469
recordtype oai_dc
spelling okr-10986-64692021-04-23T14:02:25Z Haiti : Public Expenditure Management and Financial Accountability Review World Bank ANTI-CORRUPTION BUDGET PROCESS DEBT RELIEF ECONOMIC GOVERNANCE ECONOMIC GROWTH FISCAL DISCIPLINE INFLATION INTERNATIONAL RESOURCES POVERTY REDUCTION STABILITY Haiti made good progress over the past three years but major challenges remain to accelerating growth and reducing poverty. After the lost decade 1994-2004, marked by political instability and economic decline, Haiti reformed significantly and revived growth, especially in the past three years. Macroeconomic policies implemented since mid-2004 helped restart economic growth, reestablish fiscal discipline, reduce inflation and increase international reserves. Financial sector stability has been maintained though weaknesses have emerged. Significant progress was also achieved in the implementation of economic governance measures, mainly in the area of legal framework, core public institutions and financial management processes and procedures. Notably, basic budget procedures were restored, the public procurement system strengthened, and anti-corruption efforts stepped up. Efforts were also made to improve efficiency and transparency in the management of public enterprises. This wave of reforms led to renewed confidence and translated into higher growth. Real Gross Domestic Product (GDP) is estimated to have grown by 2.3 percent in FY2006, implying an increase of about 0.6 percent in per capita GDP, compared to -0.2 percent in FY2005. The successful implementation of its stabilization program helped Haiti benefit from a three year International Monetary Fund (IMF) - Poverty Reduction and Growth Facility (PRGF) supported program. In addition, in November 2006, Haiti qualified for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative by reaching the decision point under the initiative. 2012-05-25T20:24:04Z 2012-05-25T20:24:04Z 2008 http://documents.worldbank.org/curated/en/2008/06/9660607/haiti-public-expenditure-management-financial-accountability-review 978-0-8213-7591-4 http://hdl.handle.net/10986/6469 English en_US World Bank Country Study CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC : World Bank Publications & Research :: Publication Publications & Research :: Publication Latin America & Caribbean Haiti
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ANTI-CORRUPTION
BUDGET PROCESS
DEBT RELIEF
ECONOMIC GOVERNANCE
ECONOMIC GROWTH
FISCAL DISCIPLINE
INFLATION
INTERNATIONAL RESOURCES
POVERTY REDUCTION
STABILITY
spellingShingle ANTI-CORRUPTION
BUDGET PROCESS
DEBT RELIEF
ECONOMIC GOVERNANCE
ECONOMIC GROWTH
FISCAL DISCIPLINE
INFLATION
INTERNATIONAL RESOURCES
POVERTY REDUCTION
STABILITY
World Bank
Haiti : Public Expenditure Management and Financial Accountability Review
geographic_facet Latin America & Caribbean
Haiti
relation World Bank Country Study
description Haiti made good progress over the past three years but major challenges remain to accelerating growth and reducing poverty. After the lost decade 1994-2004, marked by political instability and economic decline, Haiti reformed significantly and revived growth, especially in the past three years. Macroeconomic policies implemented since mid-2004 helped restart economic growth, reestablish fiscal discipline, reduce inflation and increase international reserves. Financial sector stability has been maintained though weaknesses have emerged. Significant progress was also achieved in the implementation of economic governance measures, mainly in the area of legal framework, core public institutions and financial management processes and procedures. Notably, basic budget procedures were restored, the public procurement system strengthened, and anti-corruption efforts stepped up. Efforts were also made to improve efficiency and transparency in the management of public enterprises. This wave of reforms led to renewed confidence and translated into higher growth. Real Gross Domestic Product (GDP) is estimated to have grown by 2.3 percent in FY2006, implying an increase of about 0.6 percent in per capita GDP, compared to -0.2 percent in FY2005. The successful implementation of its stabilization program helped Haiti benefit from a three year International Monetary Fund (IMF) - Poverty Reduction and Growth Facility (PRGF) supported program. In addition, in November 2006, Haiti qualified for debt relief under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative by reaching the decision point under the initiative.
format Publications & Research :: Publication
author World Bank
author_facet World Bank
author_sort World Bank
title Haiti : Public Expenditure Management and Financial Accountability Review
title_short Haiti : Public Expenditure Management and Financial Accountability Review
title_full Haiti : Public Expenditure Management and Financial Accountability Review
title_fullStr Haiti : Public Expenditure Management and Financial Accountability Review
title_full_unstemmed Haiti : Public Expenditure Management and Financial Accountability Review
title_sort haiti : public expenditure management and financial accountability review
publisher Washington, DC : World Bank
publishDate 2012
url http://documents.worldbank.org/curated/en/2008/06/9660607/haiti-public-expenditure-management-financial-accountability-review
http://hdl.handle.net/10986/6469
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