The International Monetary Fund (IMF) approved on Monday an emergency aid of 105 million dollars for Haiti, plunged into a humanitarian crisis aggravated by inflation.
The funds should allow the Caribbean country “to support those most affected by the increase in food prices through food distributions and payments to the most vulnerable households,” said Antoinette Sayeh, deputy director general, quoted in a statement from organization press.
Half of the population below the poverty line
The instrument is used to provide rapid access to emergency funds to states facing food insecurity, particularly in the event of unexpected grain import shocks or price surges.
“More than half of Haiti’s population already lives below the poverty line,” recalled the IMF, and the country is going through a “sanitary crisis” (cholera epidemic) and “serious security problems.”
“Haiti has been hit hard by the economic consequences of the Russian invasion of Ukraine, including record inflation,” Antoinette Sayeh said.
Financing will be through the Rapid Credit Facility (RCF) (which allows an interest-free loan to low-income states facing an emergency) and the IMF’s Rapid Financing Instrument (RFI), which provides assistance finance to help restore the balance of payments.
Source: BFM TV
