Haiti's private sector is unhappy about President Moise's decision to require all financial transactions be done in gourde

Posted by hougansydney.com on Sunday, March 4, 2018 Under: Economy
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The recent decision of Haitian President Jovenel Moise, to sign an executive order requiring all financial transactions in the country be conducted in the local currency, the gourde, has stunned and upset many of the biggest merchants operating in the country.

Following the publication of the decree relating to this new change, the powerful Private Sector Economic Forum, which is made up of Haiti’s largest businesses, sent a public letter to the Minister of Economy and Finance, expressing their shock and demanding that some exceptions be made for certain industries.

Haitian President signed executive order requiring all financial transactions in the country to be done in Gourde

Pétion-Ville, March 2, 2018

Mr Pierre Marie Du Meny

Minister of Commerce and Industry

In his offices


It is with astonishment that the private operators and the public in general have become acquainted with the decree obligating the commercial transactions on the territory in the national currency, which is the gourde, adopted in the Council of Ministers on February 28, 2018 and published in the official journal Le Moniteur No 38 of Thursday, March 1, 2018.

The undersigned associations, members of the Private Sector Economic Forum, took note of the clarifications provided by the national authorities at the press conference of Friday, March 2, 2018, during which they announced that this decree will be the subject of circulars application specifying the details of its implementation.

Concerned by such a decision, the undersigned associations request responsible bodies that an official statement confirms this decision and come to specify that this decree will not come into effect without the publication of these circulars. They request that their content take into account the specificities of each sector and branch of activity.

As part of the preparation of these circulars, the undersigned associations request the organization of consultations with the relevant associations of the private sector, in particular the Professional Association of Banks (PDB), the Haitian Chamber of Commerce and Industry. (CCIH), the Association of Industries of Haiti (ADIH), the Tourism Association of Haiti (ATH), the Association of Insurers of Haiti, the Maritime Association of Haiti (AMARH), the French Chamber Haitian Trade and Industry (CFHCI), the American Chamber of Commerce in Haiti (AMCHAM).

Being satisfied that you will understand the merits of our request, the undersigned renew, Mr. Minister of Commerce, the assurance of our best regards.

For the Private Sector Economic Forum:

Frantz Bernard Craan,

Coordinator of the Private Sector Economic Forum

President of the Haiti Chamber of Commerce and Industry (CCIH)

Georges Sassine

President of the Association of Industries of Haiti (ADIH)

Régine René Labrousse

President of the American Chamber of Commerce in Haiti (AMCHAM)

Beatrice Nadal Mevs

President of the Tourism Association of Haiti (ATH)

Gregory Brandt

President of the French-Haitian Chamber of Commerce and Industry"

The pricing of nearly everything in Haiti in US dollars has been a growing problem for years; according to the Governor of the Bank of the Republic of Haiti (BRH), jean Baden Dubois, Haiti has become a "dollarised" country by up to "63%"

It is very easy for anyone to see that problem in Haiti; many supermarkets and other big retailers for exemple in the cities of Petion Ville  and Delmas priced their merchandise in U$.

Pending the application circulars, Prime Minister Jack Guy Lafontant said that the decision that commercial transactions be made in gourdes was taken after several months of work, reflections. "It is not normal to pay in US dollars to go to the ball, a restaurant, pay rent in dollars, buy land, etc. This decision is in the interest of the vast majority of Haitians," said the head of government who calls people to keep a cool head.

In : Economy