IMF approves US$105 mil emergency aid to Haiti

WASHINGTON – The International Monetary Fund (IMF) yesterday approved emergency aid of US$105 million (RM458 million) for Haiti, which has long been mired in a humanitarian crisis that has been exacerbated by recent global inflation.

The funds should enable the Caribbean country to “support those most affected by food price rises through feeding programs and cash and in-kind transfers to vulnerable households” said IMF deputy managing director Antoinette Sayeh in a statement.

The money was released through the IMF’s “Food Shock Window”, opened at the end of September for a period of one year.

The measure is used to provide rapid access to emergency funds to states facing food insecurity, particularly in the event of unexpected shocks in the import of grains or a sudden rise in prices.

“With more than half the population already below the poverty line, Haiti faces a dire humanitarian crisis,” said the IMF, noting that the Caribbean nation also faces a “health crisis” in the form of a cholera epidemic and “serious security problems”.

“Haiti is facing a dire humanitarian crisis and was hit hard by the economic spillovers from Russia’s invasion of Ukraine,” said Sayeh. – AFP, January 24, 2023