$100 million in emergency aid for Haiti

The International Monetary Fund (IMF) on Monday approved emergency aid of $105 million for Haiti, which is plunged into a humanitarian crisis aggravated by inflation.

The funds should enable the Caribbean country to “support those most affected by rising food prices through food distributions and payments to the most vulnerable households”, said Antoinette Sayeh, Deputy Director General, quoted in a press release from the organization.

“Haiti has been hard hit by the economic consequences of Russia’s invasion of Ukraine, including record inflation,” Antoinette Sayeh added.

The financing will be via the rapid credit facility (RCF) (which allows a loan at zero interest to low-income States facing an emergency situation) and the rapid financing instrument (RFI) of the IMF, which provides financial assistance to help restore the balance of payments.