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Economic Survey of Latin America and the Caribbean 1995-1996

image of Economic Survey of Latin America and the Caribbean 1995-1996

This publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. It also explores the economic developments by country. Included also is a statistical annex on diskette.

English

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Haiti

The restoration of a constitutional civilian government in October 1994 was an extremely significant political development which changed the course of the Haitian economy in fiscal 1994-1995. The trade embargo imposed on the country following the military coup of September 1991 was lifted, and the foundations were laid for the implementation of an emergency programme with financial support from the international community. The inflow of foreign capital led to a spectacular rebound in imports, which was reflected in a substantial current account deficit -equivalent to 9% of the country’s already diminished gross domestic product (GDP)- and in an increase in the public sector’s level of expenditure and deficit. This marked the end of a crisis which had caused a 10% reduction in national income since 1990, and the beginning of a partial recovery that was reflected in a rise in gdp of almost 5%.

English

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