Inflation in Haiti is not a passing episode that temporary adjustments would be enough to resolve: it has become the chronic symptom of an economic model running out of breath.<\/p>\n\n\n\n
Inflation in Haiti is not a temporary episode that could be resolved by short-term adjustments: it has become the chronic symptom of an economic model at the end of its tether. For more than a decade, the annual rate of increase in consumer prices has hovered around an average above 10%, with peaks exceeding 30% as in 2022 (IHSI, 2022). The food basket, which alone accounts for more than half of household expenditures, has seen its cost double in less than ten years. Faced with this spiral, the Bank of the Republic of Haiti mobilizes the orthodox instruments of monetary policy \u2014 adjustment of key interest rates, interventions in the foreign exchange market, sterilization operations \u2014 without the underlying trend sustainably reversing. This impotence is not due to a technical failure of the monetary authorities; it results from an erroneous diagnosis that continues to treat Haitian inflationas a cyclical imbalance while it is, in reality, the expression of a deep structural crisis.<\/p>\n\n\n\n
The thesis defended in this article is that inflation in Haiti is fundamentally structural, in the sense given to this concept by the Latin American structuralist school (Prebisch, 1950; Sunkel, 1958; Noyola V\u00e1zquez, 1956). It does not result from a temporary excess of liquidity or a transient overheating of demand, but from at least three systemic locks that reinforce each other: a structurally defective domestic supply, a dependence on imports established as a mode of regulation, and a generalized insecurity that deeply disrupts production and distribution circuits. After presenting the empirical data that validate this diagnosis, we will successively analyze these three determinants and their circular interactions, before demonstrating that only a transformation strategy acting simultaneously on three pillars \u2014productive recovery, progressive food sovereignty, and restoration of the rule of law \u2014 is capable of breaking the inflationary cycle and laying the foundations for endogenous development.<\/p>\n","protected":false},"excerpt":{"rendered":"
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