[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110465-en":3,"doc-seo-110465-105":31,"detail-sidebar-cat-0-en-105":93},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},110465,2336464648322,"Aria","https://ap-avatar.wpscdn.com/avatar/2200025388227c56fec?_k=1778556882303663488",8,"Research & Report","Haiti - Joint World Bank-IMF Debt Sustainability Analysis - Debt Distress Assessment","Joint World Bank-IMF analysis assesses Haiti’s debt distress risk as “high” for external debt, while concluding that overall public debt remains sustainable. GDP rebasing reduces the debt-to-GDP ratio, but higher medium-term primary deficits—financed through modest external concessional support amid weak export growth—keep key debt metrics in the high distress range. FCV context and tailored stress tests show vulnerability to frequent natural-disaster shocks, though moderate public debt levels, some economic recovery in FY2022, low interest rates, and structural reforms under the SMP baseline support sustainability. The assessment remains sensitive to downside risks and data limitations.","Public Disclosure Authorized  \nPub lic Disc losure Authorized  \nApproved by:  \nRobert R. Taliercio and Marcello Estevão (IDA) , Patricia Alonso-Gamo, Wes McGrew and Andrea Schaechter (IMF)  \nPrepared by the staff of the International Development Association (IDA) and the International Monetary Fund (IMF) .  \n\n| HAITI : JOINT BANK-FUND DEBT SUSTAINABILITY ANALYSIS1 |  |\n| --- | --- |\n| Risk of external debt distress | High2 |\n| Overall risk of debt distress | High |\n| Granularity in the risk rating | Debt is sustainable |\n| Application of judgment | Yes: High probability of protracted threshold breaches on external debt under a 20-year horizon from FY2033 and important risks and vulnerabilities to debt outlook. |\n\nHaiti’s risk of debt distress is assessed to be “high” but overall public debt remains sustainable. Although the GDP rebasing lowered by almost half the debt-to-GDP ratio, slightly higher primary deficits over the medium term funded by a modest increase in external concessional financing are predicted against the background of subdued export growth. This brings the present value of public and publicly guaranteed (PPG) external debt as a percentage of exports and the ratios of debt service-to-exports and debt service-to-revenue into the “high” range of debt distress, justifying maintaining an overall rating of “high”. Haiti is an FCV country (a country affected by fragility, conflict, and violence as defined by the World Bank) and tailored stress tests suggest that its debt risk rating remains vulnerable to large natural disaster shocks, which are statistically frequent. Nevertheless, the moderate level of public debt and broadly, a modest recovery of economic activity in fiscal year 2022, continued low interest rates, and the implementation of some structural reforms that boost growth potential under the SMP baseline scenario point to a sustainable public debt. Although debt ratios have improved, this assessment remains subject to downside risks as Haiti continues to face important economic, policy and institutional fragilities and exceptional vulnerability to natural disasters, and debt data limitations are also present.  \n1. Coverage. Gross public debt used for this DSA covers the central government, local governments, extrabudgetary autonomous organisms, the state-owned electricity company Electricité d’Haiti (EDH), and advances by the Banque de la République d’Haiti (BRH) to the government. External debt data come from the BRH and include debt to multilateral and bilateral creditors, including foreign oil companies, as well asan estimate of contingent liabilities. External debt is defined on a residency basis. No data is available on guaranteed debt, including to other state-owned enterprises (SOE), and non-guaranteed SOE debt. However, the government is committed to expanding the debt coverage to SOEs. Ongoing efforts aiming at improving debt data collection, the preparation and public disclosure of the debt portfolio review are supported by the World Bank (Text Table 1) .  \n\n|  |\n| --- |\n| Subsectors of the public sector\u003Cbr>Central government\u003Cbr>State and local government\u003Cbr>Other elements in the general government\u003Cbr>o/w: Social security fund\u003Cbr>o/w: Extra budgetary funds (EBFs)\u003Cbr>Guarantees (to other entities in the public and private sector, including to SOEs)\u003Cbr>Central bank (borrowed on behalf of the government)\u003Cbr>Non-guaranteed SOE debt Check box 1\u003Cbr>2\u003Cbr>3\u003Cbr>4\u003Cbr>5\u003Cbr>6\u003Cbr>7\u003Cbr>8 X\u003Cbr>X\u003Cbr>X\u003Cbr>X\u003Cbr>X\u003Cbr>\u003Cbr>\u003Cbr>\u003Cbr>\u003Cbr>1 The country's coverage of public debt  The general government  Default Used for the analysis Reasons for deviations from the default settings 2\u003Cbr>3\u003Cbr>4\u003Cbr>5 \u003Cbr>Other elements of the general government not captured in 1. 1/ 0 percent of GDP 0.3\u003Cbr>SoE's debt (guaranteed and not guaranteed by the government) 2/ 2 percent of GDP 2\u003Cbr>Public Private Partnership (PPP) 35 percent of PPP stock 0\u003Cbr>Financial market (the default value of 5 percent of GDP is the minimum value)  5 percent o","cbCaiaDCgM8CRrd3","https://ap.wps.com/l/cbCaiaDCgM8CRrd3","pdf",874701,7,1,21,"English","en",105,"# Risk Assessment Overview\n## External Debt Distress Risk\n## Overall Risk of Debt Distress\n## Granularity and Judgment\n# Sustainability Rationale\n## Debt Metrics and Financing Assumptions\n## FCV and Natural Disaster Vulnerability\n## Structural Reforms and SMP Baseline\n# Coverage and Methodology\n## Public Debt Coverage\n## External Debt Data Sources\n## Domestic Debt Calculation Notes","[{\"question\":\"How is Haiti’s external debt distress risk assessed in this analysis?\",\"answer\":\"It is assessed as “high” because key external debt metrics fall into the high range of debt distress.\"},{\"question\":\"Why does the analysis still conclude that overall public debt is sustainable?\",\"answer\":\"Despite “high” external distress indicators, moderate public debt, low interest rates, partial economic recovery in FY2022, and structural reforms under the SMP baseline support sustainability.\"},{\"question\":\"What factors make the assessment vulnerable to shocks and downside risks?\",\"answer\":\"Haiti’s FCV status and tailored stress tests indicate high sensitivity to large natural-disaster shocks, alongside economic, policy, and institutional fragilities and limited debt data coverage.\"}]","Haiti - Joint World Bank-IMF Debt Sustainability Analysis - Debt Distress Assessment | PDF",1784485563,53,{"code":4,"msg":32,"data":33},"ok",{"site_id":25,"language":24,"slug":34,"title":13,"keywords":35,"description":14,"schema_data":36,"social_meta":88,"head_meta":90,"extra_data":92,"updated_unix":29},"haiti-joint-world-bank-imf-debt-sustainability-analysis-debt-distress-assessment","",{"@graph":37,"@context":87},[38,55,70],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,52],{"item":42,"name":43,"@type":44,"position":21},"https://docshare.wps.com","Home","ListItem",{"item":46,"name":47,"@type":44,"position":48},"https://docshare.wps.com/document/","Document",2,{"item":50,"name":12,"@type":44,"position":51},"https://docshare.wps.com/document/research-report/",3,{"item":53,"name":13,"@type":44,"position":54},"https://docshare.wps.com/document/haiti-joint-world-bank-imf-debt-sustainability-analysis-debt-distress-assessment/110465/",4,{"url":53,"name":13,"@type":56,"author":57,"headline":13,"publisher":59,"fileFormat":62,"inLanguage":24,"description":14,"dateModified":63,"datePublished":64,"encodingFormat":62,"isAccessibleForFree":65,"interactionStatistic":66},"DigitalDocument",{"name":9,"@type":58},"Person",{"url":42,"name":60,"@type":61},"DocShare","Organization","application/pdf","2026-07-30","2026-07-19",true,{"@type":67,"interactionType":68,"userInteractionCount":20},"InteractionCounter",{"@type":69},"ViewAction",{"@type":71,"mainEntity":72},"FAQPage",[73,79,83],{"name":74,"@type":75,"acceptedAnswer":76},"How is Haiti’s external debt distress risk assessed in this analysis?","Question",{"text":77,"@type":78},"It is assessed as “high” because key external debt metrics fall into the high range of debt distress.","Answer",{"name":80,"@type":75,"acceptedAnswer":81},"Why does the analysis still conclude that overall public debt is sustainable?",{"text":82,"@type":78},"Despite “high” external distress indicators, moderate public debt, low interest rates, partial economic recovery in FY2022, and structural reforms under the SMP baseline support sustainability.",{"name":84,"@type":75,"acceptedAnswer":85},"What factors make the assessment vulnerable to shocks and downside risks?",{"text":86,"@type":78},"Haiti’s FCV status and tailored stress tests indicate high sensitivity to large natural-disaster shocks, alongside economic, policy, and institutional fragilities and limited debt data coverage.","https://schema.org",{"og:url":53,"og:type":89,"og:title":13,"og:site_name":60,"og:description":14},"article",{"robots":91,"canonical":53},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":94},[95,99,103,107,112,117,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":96,"show_sort_weight":97,"slug":98},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":100,"show_sort_weight":101,"slug":102},"Literature",80,"literature",{"id":54,"doc_module":4,"doc_module_name":47,"category_name":104,"show_sort_weight":105,"slug":106},"Exam",70,"exam",{"id":108,"doc_module":4,"doc_module_name":47,"category_name":109,"show_sort_weight":110,"slug":111},5,"Comic",60,"comic",{"id":113,"doc_module":4,"doc_module_name":47,"category_name":114,"show_sort_weight":115,"slug":116},6,"Technology",50,"technology",{"id":20,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":47,"category_name":12,"show_sort_weight":122,"slug":123},30,"research-report",{"id":125,"doc_module":4,"doc_module_name":47,"category_name":126,"show_sort_weight":127,"slug":128},9,"Religion & Spirituality",20,"religion-spirituality",{"id":127,"doc_module":4,"doc_module_name":47,"category_name":130,"show_sort_weight":127,"slug":131},"World Cup","world-cup",{"id":133,"doc_module":4,"doc_module_name":47,"category_name":134,"show_sort_weight":133,"slug":135},10,"Lifestyle","lifestyle",{"id":137,"doc_module":4,"doc_module_name":47,"category_name":138,"show_sort_weight":108,"slug":139},19,"General","general"]