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EIU Haiti

Overview

The government will continue to face economic and political difficulties in 2010-11. Political stability took a hit in late October when the Senate voted to remove the prime minister, Michele Pierre-Louis, although the newly appointed prime minister, Jean-Max Bellerive, has been quick to form a government. A better security situation and renewed international attention have improved Haiti's economic outlook, but risks remain, particularly if political volatility returns. The main political parties are feeble and tend toward populism. Political manoeuvring ahead of 2010 elections will complicate governance. The risk of social unrest and government paralysis will remain high, at least until a sustained economic recovery begins. Prospects for attracting investment have improved slightly, owing to security gains, US trade preferences and the strong support of a former US president, Bill Clinton (1993-2001). However, investors could be turned off by further instability. After a weak 2008/09 the Economist Intelligence Unit expects Haiti’s GDP to grow by 2.5% in 2009/10 and 3.5% in 2010/11. Average inflation will rise in 2010 after reaching historical lows in 2009. The trade and current-account deficits will narrow slightly but remain wide.

Key Reports Available for Haiti
  • Country Report
  • Country Profile
  • Basic Data

    Land area
    Population
    Population
    9.5m (2006 IMF estimate)
    Main towns
    Population in '000, 2005 (unofficial estimates)
    Port-au-Prince (capital): 2,100 (incl surrounding districts)
    Cap-Haitien: 145
    Gonaives: 120
    Les Cayes: 90
    Climate
    Tropical
    Weather in Port-au-Prince (altitude 37 metres)
    Hottest month, July, 23-34°C (average daily minimum and maximum); coldest month, January, 20-31°C; driest months, December and January, 33 mm average rainfall; wettest month, May, 231 mm average rainfall
    Languages
    Creole and French
    Measures
    Metric system
    Currency
    1 gourde (G)=100 centimes. An officially fixed rate of G5:US$1 was abandoned in favour of a free-market exchange rate in 1991. Average exchange rate in 2007: G36.9:US$1; exchange rate on July 1st 2008: G39.5:US$1
    Fiscal year
    October-September
    Time
    5 hours behind GMT
    Public holidays
    January 1st and 2nd; Shrove Tuesday; Good Friday; April 14th; May 1st, 18th and Ascension Day; May 22nd; Holy Spirit; Corpus Christi; Assumption; October 8th, 17th and 24th; November 1st, 2nd and 18th; December 5th and 25th


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