Statement by the IMF Staff Representative on Haiti Executive Board Meeting 11/46

[piporiko]

Statement by the IMF Staff Representative on Haiti
Executive Board Meeting 11/46
May 11, 2011

This statement provides additional information on developments since the issuance of the staff report for the First Review Under the Extended Credit Facility arrangement for Haiti (EBS/11/63). This additional information does not change the thrust of the staff report.

· Presidential elections. The final results of the second round presidential election were released on April 21, confirming Mr. Michel Martelly as the winner. His inauguration ceremony is scheduled to take place on May 14.

· Legislative elections. The composition of Parliament has not been finalized, as the results of the second round legislative elections were contested for 19 candidates (17 deputies in the 99-seat Chamber of Deputies and two senators in the 30-seat Senate). At the request of President-elect Martelly, the Organization of American States (OAS) reviewed the final results. OAS found that the final count was incorrect and recommended reinstatement of the preliminary results. Although this issue may not be promptly resolved, it will not prevent Parliament from being in session, given that the remaining parliamentarians were sworn in on April 27.

· Constitution. Parliament is expected to adopt amendments to the Constitution by May 9. These amendments aim at reducing the number of elections and ensuring that presidential, senatorial, congressional, and local elections are held at the same time. Constitutional amendments also aim at strengthening the judiciary, promoting gender
equality, allowing for dual citizenship, and helping better protect the environment.

· Foreign reserves audit. The final audit report of the net international reserves (NIRs) review, released on May 6, indicates that NIRs for end-September 2009 should be lower than reported by the central bank by US$2.2 million instead of the initial estimate of US$64 million mentioned in the staff report (paragraph 19).
discrepancies in the reported NIR were due to the capacity constraints of the authorities


We are very proud. We would like to define our future, because we feel that when we are getting assistance, our future is sometimes defined for us. I am definitely convinced that what is best for Haiti is not what is imposed to Haiti. I will call for everybody who wants to help to call on to the humility, a lot of humility. ~(Country Economist for Haiti, Inter-American Development Bank)