Growth seen for Haiti, Guyana

Growth seen for Haiti, Guyana
Storm-battered Haiti and Guyana are the only Caribbean nations to project economic growth this year.
By JACQUELINE CHARLES
jcharles@MiamiHerald.com
PORT-AU-PRINCE, Haiti -- Haiti and Guyana are the two countries in the Caribbean that are expected to post positive growth this year, despite a global economic crisis that sent financial shock waves through the region.

``It's quite surprising when you think of the size of the shocks that Haiti suffered in 2009,'' said Paulo Nogueira Batista, International Monetary Fund (IMF) executive director for Haiti and several other nations in the hemisphere ``It has won the respect of the fund, the IMF, as a country that has serious long-term economic policies.''

Gobind Ganga, deputy governor of the Bank of Guyana, said the former British colony is projecting 2.5 percent growth as a result of increases in rice and gold production.

Unlike the mostly tourism-dependent economies of the Caribbean region, Ganga believes focusing on production over services has helped both his English-speaking South American nation and Haiti ``cope with the financial crisis far better.''

In Haiti, the 2.4 percent economic growth projection comes a year after the Caribbean nation suffered nearly $1 billion in damage in the wake of four storms that left hundreds dead while destroying roads, bridges and agricultural fields.

The news also comes as Haiti prepares to install a new prime minister and government -- its fifth in five years -- following the firing of Prime Minister Michele Pierre-Louis, accused of failing to improve the economy.

Haiti's top economists welcomed the news of growth but cautioned that investments are desperately needed if this poverty-stricken nation is to make significant inroads in improving conditions.

Haiti's Central Bank Governor Charles Castel said the 2.4 percent growth is the result of the millions of dollars in investments in agriculture, roads and bridges after the storms. Also, exports rose 23 percent this year, largely due to duty-free textiles.

``For a country like Haiti, if we want to make up for the lack of revenue and wealth in the country, we have to grow at a much faster rate,'' Castel said.

malivertlazile2009 wrote:

Growth seen for Haiti, Guyana
Storm-battered Haiti and Guyana are the only Caribbean nations to project economic growth this year.
By JACQUELINE CHARLES
jcharles@MiamiHerald.com
PORT-AU-PRINCE, Haiti -- Haiti and Guyana are the two countries in the Caribbean that are expected to post positive growth this year, despite a global economic crisis that sent financial shock waves through the region.
``It's quite surprising when you think of the size of the shocks that Haiti suffered in 2009,'' said Paulo Nogueira Batista, International Monetary Fund (IMF) executive director for Haiti and several other nations in the hemisphere ``It has won the respect of the fund, the IMF, as a country that has serious long-term economic policies.''
Gobind Ganga, deputy governor of the Bank of Guyana, said the former British colony is projecting 2.5 percent growth as a result of increases in rice and gold production.
Unlike the mostly tourism-dependent economies of the Caribbean region, Ganga believes focusing on production over services has helped both his English-speaking South American nation and Haiti ``cope with the financial crisis far better.''
In Haiti, the 2.4 percent economic growth projection comes a year after the Caribbean nation suffered nearly $1 billion in damage in the wake of four storms that left hundreds dead while destroying roads, bridges and agricultural fields.
The news also comes as Haiti prepares to install a new prime minister and government -- its fifth in five years -- following the firing of Prime Minister Michele Pierre-Louis, accused of failing to improve the economy.
Haiti's top economists welcomed the news of growth but cautioned that investments are desperately needed if this poverty-stricken nation is to make significant inroads in improving conditions.
Haiti's Central Bank Governor Charles Castel said the 2.4 percent growth is the result of the millions of dollars in investments in agriculture, roads and bridges after the storms. Also, exports rose 23 percent this year, largely due to duty-free textiles.
``For a country like Haiti, if we want to make up for the lack of revenue and wealth in the country, we have to grow at a much faster rate,'' Castel said.

Thanks for the update.

Growth in what? Problems, Misery, Hunger, Malnutrition, immigration to the DR... Oh yea theres growth in haiti.... JJAJAJJAJAJAJ

T-Reborn wrote:

Growth in what? Problems, Misery, Hunger, Malnutrition, immigration to the DR... Oh yea theres growth in haiti.... JJAJAJJAJAJAJ

To All Haitians,
I am sorry that I brought Misery, Hunger, Malnutrition, immigration to the Dear Land of Haiti.
Please forgive me. I am begging you
sincerely T-Reborn