LatinNews Daily - 13 October 2025

*The International Monetary Fund (IMF) and Haitian authorities have concluded a virtual mission under the Second Review of the Staff-Monitored Programme (SMP), pending approval by IMF management. An IMF press release highlights that economic conditions in Haiti “remain fragile amid persistent domestic and external shocks and rising uncertainty”, noting that “intensified gang-related disruptions, and escalating violence or social unrest could further exacerbate social and economic vulnerabilities”. The Fund highlights that Haiti’s economy has contracted for a seventh consecutive year while inflation is running at around 32% year-on-year. It warns that the banking sector “continues to show vulnerabilities”, with the nonperforming loan ratio above 13% in June 2025, although the system’s capital adequacy ratio (22%) exceeds the regulatory minimum of 12%. Nonetheless the IMF highlights that implementation of the 12-month SMP, which was agreed in December 2024, has been “encouraging” with “all quantitative and indicative targets” met at the end-June test date while monetary financing of the fiscal deficit remains at zero. It describes gross international reserves, which reached over US$3.1bn as of end-July 2025, as “adequate” and supported by strong remittance inflows. SMPs are informal agreements between country authorities and the IMF and are not accompanied by IMF financial assistance.

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