Haiti : NEWS: Haiti had the 2nd highest econ. growth rate in the western hemisphere

Discussion in 'Black History - Culture - Panafricanism' started by skuderjaymes, Feb 12, 2010.

  1. skuderjaymes

    skuderjaymes Contextualizer Synthesizer MEMBER

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    Combined with payouts from an existing loan programme, the IMF said on
    Wednesday it would transfer a total of $114 million to Haiti's government by
    the end of this week, marking the largest handover of funds since the
    magnitude-7 earthquake struck January 12.

    IMF Managing Director Dominique Strauss-Kahn said the transfer would
    provide Haiti with "urgently needed cash resources" that would allow it to
    acquire emergency imports to help those who survived.

    The IMF has been under fire along with other creditors for offering Haiti loans
    instead of grants and refusing to cancel Haiti's debt. The IMF said Haiti
    would not have to start paying back the loan for five and a half years.

    Strauss-Kahn lamented that the earthquake had destroyed Haiti's economy
    just as it was beginning to show signs of improvement. He noted that, at
    nearly 3%, Haiti had the second-highest growth rate in the Western Hemisphere in 2009.

    "Aside from the human tragedy, this disaster represents a major setback for
    the Haitian economy, following several years of progress in maintaining
    macroeconomic stability, resuming growth, and implementing essential
    structural reforms," Strauss-Kahn said.

    The January 12 earthquake killed at least 150,000 people and left much of
    the impoverished Caribbean country in ruins.

    more: http://timesofindia.indiatimes.com/...million-loan-to-Haiti/articleshow/5507615.cms
     
  2. LindaChavis

    LindaChavis Well-Known Member MEMBER

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    Why

    in the world would they "loan" the poorest nation in the WORLD money? Ohhh it MUST be the oil..
     
  3. skuderjaymes

    skuderjaymes Contextualizer Synthesizer MEMBER

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    It's called pimping.
     
  4. bientempo

    bientempo Well-Known Member MEMBER

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    http://www.imf.org/external/np/sec/pr/2010/pr1017.htm
    http://blog-imfdirect.imf.org/2010/01/22/“marshall-plan”-for-haiti/
    http://www.imf.org/external/np/country/2010/012710.htm
    http://www.imf.org/external/country/hti/index.htm


    Would like to know the figures behind the statement about the 2nd highest growth rate in 2009. With no exporting and no manufacturing to speak of the economy is not that high. For the last so many years they have been surviving due to foreign aid. 3% of nothing is still nothing! when your making $200 a year, $6 don't go very far.

    Like the Dominican Republic remeses are figured as part of the GDP. Remeses are the money sent back from family members living outside the country, so that those left behind have something to live on.
     
  5. skuderjaymes

    skuderjaymes Contextualizer Synthesizer MEMBER

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    this is about relative growth.. and from what I can see, Haiti's economy has
    grown and was projected to continue at a steady rate..

    here are some numbers..

    [​IMG]

    you can run your own queries here: http://www.imf.org/external/pubs/ft/weo/2009/02/weodata/index.aspx
     
  6. bientempo

    bientempo Well-Known Member MEMBER

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    Agreed they were projected to grow, but as with the rest of the countries in the caribbean, and south america, there is a lot of shaded columns, which indicate IMF staff estimates even for known years, let alone coming years.
    But still no way I can get them to come in 2nd place.
    Mainly looking at the following grouping

    Gross domestic product, constant prices Annual percent change
    Inflation, average consumer prices Annual percent change

    Thanks for the link.
     
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