Economic environment of the Republic of Haiti
The republic of Haiti is a country Hispaniola island, in the Greater Antilles Caribbean archipelago. It consists of 27,750 square kilometers area and the population is 10.6 Million, it is the third-most popular country in the Caribbean as a whole.
Country has been recovering after 2010 earthquake. It is considered as one of the poorest countries in the world. Employed people amount is 2.9 million and 1.9 million of them are working informally.
Country’s economy is dollarized and 55% of population lives below the extreme poverty line of 1.25 USD/day.
Haiti's economy is at deficit, and it is financed by external grants, this is a problem in term of medium-term expenditure sustainability.
The
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The agreement is called CARIFORUM and was signed in 2008, the convention gives trade and investment rights equally to its member states.
According to the convention the disputes resolution mechanism between CARIFORUM and EU states are carried by the European court of justice.
Dispute cases Haiti has been involved in:
So far Haiti has not been involved in any dispute.
Exchange rate determination:
From 2009 to 2011 the government has benefited by portion cancelation of the country external debt under HIPC Initiative “Heavily indebted countries.
The export of merchandise faced growth between the period of 2007 and 2014. Records shows $522 million in 2007 and $917 million in 2014
The import of goods grew from $1704 million to 3392 million during the same period, which means that the country imports more than it exports.
Haiti’s opening up of economy in the last few years has grown effectively as merchandise trade expanded from 52 percent to 71.8 percent of GDP in 2013-2014. Refer to (Table 1.2)
However the direct investments in to the country remains greater than out of the country which is around $2 million only. Refer to (table