Money Sent to Haiti - How Long before it Leaves the Country?

POP QUIZ: Jean Pierre is a Haitian immigrant who lives and works in the United States, he makes a USD $50 money transfer to Marie Michelle in Haiti. How long will it take before that $50 leaves Haiti? In other words... All this money coming into Haiti via remittences via Western Union, Cam Transfer, UniTransfer and Moneygram, how fast is it leaving the country?

Let's see what happens to Jean Pierre's money he just sent to Marie Michelle...

The majority of what Marie eats comes from outside Haiti. Take a way the 'Bannann' (plaintain) she eats in the morning, everything else she eats with the 'bannann' is probably from outside of Haiti... Yes... Including the bouillon cube she puts in the sauce!

Let's assume she uses some of the money to buy good and services from other Haitians, let's see how many hops the money takes before it leaves Haiti...

Say she pays a taxi moto... 1 hop...

Taxi moto man buys gas... Gas come from outside Haiti... Babay Nicole!

Say she buys 'Bannann' or 'poul di', Haitian products, grown in Haiti, l-ap kore production national la... 1 hop...

The seller of the 'bannann' or 'poul di' buys cheap rice (diri shella tro chè) and salami to take back home... products from outside Haiti... babay Nicole!

QUESTION: Can you think of a way that this $50 bucks, which just entered the Haitian economic system, can continue to 'brasé' (change hands) from within Haiti where it never leaves the country?

Can you think of a way where at least part of the money can last even a month (30 days) in Haiti?

How long do you think the money will take before it actually leaves the country...

I am not an economist but I believe the longer the money takes to leave Haiti once it enters the econmy, the beter it will be for everyone who depends on this economy.

Haitians in the diaspora send over 1 billion dollars in remitences to Haiti each year... SO... There must be a big hole in the bucket!!!!!

What do you think about this?

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Gerard says...

We should: a) organize our agriculture b) reopen our local industries shut down by FMI and company.

We must also keep in mind that the money transfers are not for ever. It will stop one day for

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