haitian economy

Do you want to know why the neighboring Dominican Republic is progressing really fast and Haiti is moving backwards? This simple answer is posted on the front page of one of the most successful free trade zone in the Dominican Republic.

This free trade zone found success in the environment of the Dominican Republic. Here is what they had to say about the environment:

"Excellent business climate, with the proven political and macroeconomic stability of the Dominican Republic."

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There's a big problem happening in Haiti right now. People have no idea how much the going rate is for a US dollar. When you send money transfers in Haiti right now people receive it at about 135 gourdes for 1 US dollar. In the streets the US dollar is worth more and it fluctuates everyday.

It seems that everyone is setting their own rates when buying and selling the US dollar in Haiti as we speak.

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An emerging market is the new term used to describe the markets of less developed countries as they were known back in the 1970s. Is Haiti an emerging market? We have the answer for you.

An emerging market is a country that has some characteristics of a developed market, but does not satisfy standards to be termed a developed market.

In other words, your country is an emerging market if it is in a transitional phase between developing and developed status.

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I was watching a video about why Singapore is so rich and I heard that exports help to grow and expand an economy. Then I immediately asked myself this question: What exactly does Haiti export? How is the Haitian economy growing?

As Haitians, we need to start thinking about these things.

A lot of times you hear that Haiti is the poorest country in the western hemisphere and, as a Haitian you feel bad and you get defensive... "Oh by the way, did you know? Haiti is the first independent black country in the world, we won our independence back in 1804, we defeated the French..."

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As the U.S. Dollar goes up in value in Haiti, so does everything else except a teacher's salary. A Haitian School teacher complains that his paycheck is only worth half its values from a few years back.

"These days, I can only afford half of what I used to purchase on my teacher's salary," he said.

"15,000 gourdes salary back when a back of Portland cement was sold for 300 gourdes is not the same now that I have to buy the same bag of cement for well over 600 gourdes on the same salary to build my house," the school teacher said.

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Cost of living (La Vie Cher) in Haiti has been going up a ramp and some people say it is because of not just one but two main factors: The US Dollar that keeps going up in value non-stop and insecurity.

Nowadays, you need 94 to 95 Haitian gourdes to purchase one U.S. Dollar in Haiti. Considering that Haiti imports everything including most of the food Haitians consume, one can conclude how expensive the cost of living must be for a school teacher whose paycheck has stayed the same over the years.

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Is this a coincidence or well-thought-out plan? As Haitians are setting the roof on fire in Haiti against President Jovenel Moise because gas prices in haiti has gone up, our neighbors in the Dominican Republic decide to lower their gas prices almost instantly.

My opinion: The Dominicans did that to piss off the Haitians even more...

What do you think?

Reply with your comments

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Haiti Economics -- In a text published by Le Nouvelliste, Economist Thomas Lalime presented a balance sheet of the national economy. The Haitian economy got a failing grade...

The economist pointed out the sluggish growth of Haiti's gross domestic product (GDP), 1% for the fiscal year 2016-2017, while Haiti needs a 7% growth rate to get out of the mud hole she is stuck in.

In his text, Lalime continues: "A budget deficit of 1.9 billion gourdes as of 30 September 2017 is reported by the BRH.

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Expatriate Economics: Many middle-class men and women retiring in the United States, with the little pension money they have, are looking for another country nearby where they can live reasonably well without spending too much. Haiti could have taken advantage of that but we are not.

An American expat living in the Dominican Republic was being interviewed and was asked why did he choose to reside in the Dominican Republic and not Haiti. His reply is worth thinking about.

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Haiti is embarking upon a development plan that is aimed at making it an "emerging country by 2030," Prime Minister Laurent Lamothe said...

Did you know? An emerging country is a country that is on its way to becoming an industrialized nation. An emerging country is a developing country that has achieved some industrial capacity like Brazil and India...

The country has developed a three year investment program with assistance from the World Bank and the International Monetary Fund (IMF) that is designed to "achieve accelerated, balanced economic growth and poverty reduction," he said.

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