Economy : Note on the monetary policy of the BRH (4th quarter 2024-2025)

Amid persistent global economic headwinds and domestic turmoil, Haiti’s Central Bank (BRH) has implemented a cautiously conservative monetary approach during the fourth quarter of 2024-2025. The international landscape remained constrained by ongoing geopolitical conflicts, restrictive trade measures, and diminished growth patterns, collectively exacerbating inflationary trends worldwide.

Haiti’s internal situation presented even more severe challenges, with protracted socio-political unrest and widespread security instability severely constraining economic operations. These conditions have intensified price escalation pressures and dramatically worsened food scarcity across the nation.

In response to these dual pressures, the BRH adopted a protective monetary strategy focused on preserving exchange rate consistency, curbing inflationary surges, and reinforcing the banking sector’s defensive capabilities. Economic metrics reveal a concerning trajectory: the Overall Economic Activity Indicator registered a 2.4% contraction during the first three quarters of the fiscal year.

The human impact of this crisis is staggering, with official statistics indicating approximately 1.4 million internally displaced citizens and 5.7 million Haitians experiencing severe food insecurity—including one million children in critically vulnerable conditions.

Inflation reached 31.9% annually by September 2025, representing a significant increase from the 28.4% recorded in June. This inflationary spiral stems from crippled domestic production capabilities and recurrent supply chain interruptions.

Fiscal operations showed increased government spending (up 15.4%) alongside modest revenue growth (5.7%), while trade imbalances widened with exports declining 8.41% to $635.93 million and imports surging 10.78% to $3,642.7 million. Despite these pressures, the exchange rate remained notably stable at approximately 130.69 gourdes per U.S. dollar.

Looking forward, Haiti’s economic recovery prospects remain intimately tied to global economic developments and—most critically—domestic security improvements. The central bank has committed to continuing its supportive stance toward small and medium enterprises and productive sectors including tourism, while maintaining its dual focus on exchange rate stability and inflation containment.