IMF donates to Haiti

The Haitian government is set to receive up to US$114 million from the International Monetary Fund (IMF) by the end of this week.



The move follows the approval of a further 102 million for the impoverished CARICOM country that suffered widespread destruction and death from the massive earthquake earlier this month.



The decision was made when the executive board of the Washington-based agency completed its sixth and final review under Haiti’s Extended Credit Facility yesterday.



This is the largest amount made available so far to Haitian authorities after the magnitude 7.0 earthquake struck on January 12.



IMF Managing Director and Chairman of the Board, Dominique Strauss-Kahn said besides the human tragedy, the disaster represents a major setback for the Haitian economy, following several years of progress in maintaining macroeconomic stability.