[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109905-en":3,"doc-seo-109905-105":31,"detail-sidebar-cat-0-en-105":92},{"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},109905,1374391974564,"Clementine","https://ap-avatar.wpscdn.com/avatar/14000253aa45c000a9e?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779874745381141002",8,"Research & Report","Haiti - Joint World Bank-IMF Debt Sustainability Analysis - January 2020","Haiti’s joint World Bank–IMF Debt Sustainability Analysis (DSA) assesses the country’s external and overall public debt risks under the revised LIC Debt Sustainability Framework. Despite model-based ratings of “moderate,” the assessment is upgraded to “high” due to a high likelihood of threshold breaches from FY2034, compounded by institutional fragilities and exceptional vulnerability to frequent natural disasters. While public debt levels are moderate and the medium-term trajectory remains broadly stable, tailored stress tests indicate very high vulnerability to large shocks over FY2019–2029.","Public Disclosure Authorized Public Disclosure Authorized  \nINTERNATIONAL DEVELOPMENT ASSOCIATION  \nINTERNATIONAL MONETARY FUND  \nHAITI  \nJoint World Bank-IMF Debt Sustainability Analysis  \nJanuary 2020  \nPrepared jointly by the staffs ofthe International Development Association (IDA)  \nand the International Monetary Fund (IMF)  \nApproved by Marcello Estevão (IDA), Patricia Alonso-Gamo and  \nJeromin Zettelmeyer (IMF)  \n\n| Haiti: Joint Bank-Fund Debt Sustainability Analysis |  |\n| --- | --- |\n| Risk of external debt distress | High |\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 and substantial threshold breaches from FY2034 . |\n\nThe Debt Sustainability Analysis (DSA) was prepared in accordance with the revised joint BankFund debt sustainability framework (DSF) for low-income countries (LICs) . 1 Haiti’s risk of debt distress is assessed tobe high, despite a model-based risk rating for both external and overall public debt of “moderate.” The application of judgement to change the rating from “moderate” to “high”is justified by the high probability of threshold breaches under the baseline scenario from FY2034, and by Haiti’s institutional fragilities and exceptional vulnerability to natural disasters. Haiti is an FCV country (that is, a country affected by fragility, conflict, and violenceas defined by the World Bank) and tailored stress tests suggest that its debt risk rating over FY2019-2029 is very vulnerable to large natural disaster shocks which are statistically very frequent. Nevertheless, the moderate level of public debt and broadly stable debt trajectory over the next ten years point to a sustainable public debt.  \n1 Guidance Note on the Bank-Fund Debt Sustainability Framework for Low-Income Countries (LIC-DSF), February 2018.  \nPUBLIC DEBT COVERAGE  \n1. Coverage. Gross public debt used for the DSA covers the central government, local governments, extrabudgetary autonomous organisms, the state-owned electricity company, Electricité d’Haiti (EDH), and advances by the central bank to the government. No data is available on guaranteed debt, including to other state-owned enterprises (SOE), and non-guaranteed SOE debt.  \n2. Gross domestic public debt is calculated asthe sum of claims of the overall banking sector (including the central bank) to the non-financial public sector (NFPS) plus suppliers’ credits and domestic arrears reported by the authorities. The banking claims data come from the 10R and 20R tables reported by the Banque de la République d’Haiti (BRH) . The education fund Programme de Scolarisation Universelle, Gratuite, et Obligatoire (PSUGO) and social security funds (Pension civile and Office Nationaled’Assurance-Vieillesse—ONA) are consolidated with therestoftheNFPS. In the absence of data, the calculation for domestic public debt does not include T-bills and bonds held outside of the banking sector.  \n3. External debt data come from the BRH and include debt to multilateral and bilateral creditorsand payment arrearsto a foreign oil company.External debt is definedona residency basis.  \n\n| Haiti: Public Debt Coverage |\n| --- |\n| 1 Subsectors of the public sector Sub-sectors covered Central government X 2 State and local government X 3 Other elements in the general government X 4 o/w: Social security fund X 5 o/w: Extra budgetary funds (EBFs) X 6 Guarantees (to other entities in the public and private sector, including to SOEs) 7 Central bank (borrowed on behalf of the government) 8 Non-guaranteed SOE debt\u003Cbr>1 The country's coverage of public debt The general government Default Used for the\u003Cbr>analysis\u003Cbr>Reasons for deviations from the default settings 2 Other elements of the general government not captured in 1. 0 percent of GDP 0.0 3 SoE's debt (guaranteed and not guaranteed by the government) 1/ 2 percent of GDP 2.0 4 PPP 35 percent of PPP stock 0.0 5 Financial market (the default value o","cbCaiv2GrXRARyBW","https://ap.wps.com/l/cbCaiv2GrXRARyBW","pdf",497094,3,1,17,"English","en",105,"# Risk of debt distress\n## Overall risk and external risk rating\n## Role of judgment and threshold breaches\n# Public debt coverage\n## Covered subsectors and data limitations\n## Domestic and external debt calculation\n# Background on debt\n## Debt stock and composition at end-2019\n## External debt sources and arrears","[{\"question\":\"What risk rating does the DSA assign to Haiti’s external and overall debt distress?\",\"answer\":\"Both the external debt distress risk and the overall risk of debt distress are rated “High.”\"},{\"question\":\"Why does the analysis raise the rating from “moderate” to “high” despite model-based results?\",\"answer\":\"Judgment is applied because there is a high probability of threshold breaches from FY2034, alongside Haiti’s institutional fragilities and exceptional vulnerability to frequent natural disasters.\"},{\"question\":\"What sectors and components are included in the DSA’s gross public debt coverage?\",\"answer\":\"Coverage includes the central government, local governments, extrabudgetary autonomous organisms, the state-owned electricity company Electricité d’Haiti (EDH), central bank advances to government, and specified calculations of domestic and external public debt.\"}]","Haiti - Joint World Bank-IMF Debt Sustainability Analysis - January 2020 | PDF",1784482961,43,{"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":87,"head_meta":89,"extra_data":91,"updated_unix":29},"haiti-joint-world-bank-imf-debt-sustainability-analysis-january-2020","",{"@graph":37,"@context":86},[38,54,69],{"@type":39,"itemListElement":40},"BreadcrumbList",[41,45,49,51],{"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":20},"https://docshare.wps.com/document/research-report/",{"item":52,"name":13,"@type":44,"position":53},"https://docshare.wps.com/document/haiti-joint-world-bank-imf-debt-sustainability-analysis-january-2020/109905/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":24,"description":14,"dateModified":62,"datePublished":63,"encodingFormat":61,"isAccessibleForFree":64,"interactionStatistic":65},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":42,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-07-31","2026-07-19",true,{"@type":66,"interactionType":67,"userInteractionCount":20},"InteractionCounter",{"@type":68},"ViewAction",{"@type":70,"mainEntity":71},"FAQPage",[72,78,82],{"name":73,"@type":74,"acceptedAnswer":75},"What risk rating does the DSA assign to Haiti’s external and overall debt distress?","Question",{"text":76,"@type":77},"Both the external debt distress risk and the overall risk of debt distress are rated “High.”","Answer",{"name":79,"@type":74,"acceptedAnswer":80},"Why does the analysis raise the rating from “moderate” to “high” despite model-based results?",{"text":81,"@type":77},"Judgment is applied because there is a high probability of threshold breaches from FY2034, alongside Haiti’s institutional fragilities and exceptional vulnerability to frequent natural disasters.",{"name":83,"@type":74,"acceptedAnswer":84},"What sectors and components are included in the DSA’s gross public debt coverage?",{"text":85,"@type":77},"Coverage includes the central government, local governments, extrabudgetary autonomous organisms, the state-owned electricity company Electricité d’Haiti (EDH), central bank advances to government, and specified calculations of domestic and external public debt.","https://schema.org",{"og:url":52,"og:type":88,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":90,"canonical":52},"index,follow",{"doc_id":7,"site_id":25},{"code":4,"msg":5,"data":93},[94,98,102,106,111,116,121,124,129,132,136],{"id":21,"doc_module":4,"doc_module_name":47,"category_name":95,"show_sort_weight":96,"slug":97},"Story & Novel",90,"story-novel",{"id":48,"doc_module":4,"doc_module_name":47,"category_name":99,"show_sort_weight":100,"slug":101},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":47,"category_name":103,"show_sort_weight":104,"slug":105},"Exam",70,"exam",{"id":107,"doc_module":4,"doc_module_name":47,"category_name":108,"show_sort_weight":109,"slug":110},5,"Comic",60,"comic",{"id":112,"doc_module":4,"doc_module_name":47,"category_name":113,"show_sort_weight":114,"slug":115},6,"Technology",50,"technology",{"id":117,"doc_module":4,"doc_module_name":47,"category_name":118,"show_sort_weight":119,"slug":120},7,"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":107,"slug":139},19,"General","general"]