The International Monetary Fund published the concluding statement of a staff team’s virtual mission to Haiti to assess progress under the authorities’ Staff-Monitored Program (SMP). The IMF noted that the macroeconomic environment has become more challenging amid persistent insecurity and new shocks, but reported that all program targets were met at end-December 2025 and that the reform agenda is advancing, albeit with delays in some areas. The statement highlighted a seventh consecutive year of real GDP contraction in FY2025, inflation easing to 22.1 percent year-on-year after peaking at about 32 percent at end-FY2025, and continued contraction in financial intermediation alongside bank capital adequacy ratios remaining well above regulatory minimums. Despite higher international oil prices weighing on the external position, reserve buffers were described as adequate, with the current account expected to remain broadly balanced in FY2026 and gross international reserves projected at about USD 3.4 billion by end-FY2026 (over seven months of prospective imports); net international reserves reached USD 1.76 billion in December 2025. On fiscal policy, the IMF pointed to weak FY2026 revenue performance and higher implicit fuel subsidy costs, while noting the authorities’ decision to increase domestic pump prices and a new decree establishing a more predictable domestic fuel price-setting framework. Looking ahead, the SMP will continue to focus on governance reforms anchored in the Governance Diagnostic Report, including strengthening the anti-money laundering and combating the financing of terrorism framework through publication of the national risk assessment and closing remaining gaps to support Haiti’s exit from the Financial Action Task Force grey list. Other priorities include accelerating tax and customs administration reforms and operationalizing the new tax code, improving budget execution via stronger cash management and commitment controls, consolidating the central bank’s policy framework and reserve management, enhancing risk-based banking supervision and related supervisory tools, and improving data quality, including starting the audit of the Bank of the Republic of Haiti’s FY2024 financial statements following completion of the FY2023 audit and publication. The IMF indicated that engagement with the authorities will continue over the coming weeks.
International Monetary Fund 2026-04-06
International Monetary Fund concludes Haiti program mission and confirms end-December 2025 Staff-Monitored Program targets were met
The International Monetary Fund published the concluding statement of its staff mission to Haiti, noting that all targets under the Staff-Monitored Program were met at end-December 2025 despite a more challenging macroeconomic environment and a seventh consecutive year of real GDP contraction. The statement highlighted easing but still elevated inflation, adequate reserve buffers, weak FY2026 revenue performance and higher implicit fuel subsidy costs. Going forward, the program will prioritize governance reforms and strengthening the anti-money laundering and combating the financing of terrorism framework to support Haiti’s exit from the Financial Action Task Force grey list.