Worldbank

subject Type Homework Help
subject Pages 3
subject Words 1053
subject School Ucsi
subject Course Economic

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CONTEXT
Haiti is the poorest country in the Western Hemisphere, with a Gross
Domestic Product (GDP) per capita of US$797 and a Human Development
Index ranking of 169 out of 189 countries in 2019. According to the Human
Capital Index, a child born today in Haiti will grow up to be only 45% as
productive as they could be if he/she had enjoyed full education and health.
However, the country has been successful in containing the cholera
outbreak, with zero laboratory-confirmed cases since January 2019.
The latest official poverty estimate (2012) suggested that over 6 million
Haitians lived below the poverty line of US$2.41 per day, and more than
2.5 million fell below the extreme poverty line of US$1.12 per day. The
poverty gap between urban and rural areas has increased.
Recurrent episodes of institutional and political instability have hindered
Haiti’s economic and social development. GDP annual growth averaged
only 1.3% over the past two decades. GDP is estimated to have contracted
by 1.4% in 2019, and the country has experienced rapid currency
depreciation (25.5%), and rampant inflation (17.3%) at the end of the fiscal
year.
The COVID-19 pandemic has exacerbated the already weak economy and
political instability in Haiti. While the number of confirmed cases of COVID-
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