"The country’s tax base is weak, while the significant informal sector heavily relies on volatile remittances. Since the last Article IV consultation in 2019, Haiti has suffered a series of shocks: the COVID-19 pandemic, a devastating earthquake in 2021, cholera outbreaks, and the economic repercussions of the war in Ukraine, which led to a food crisis and then famine," the statement noted.

"Furthermore, the severe deterioration of security conditions in recent years has exacerbated these issues, resulting in a significant increase in the number of internally displaced people as well as those leaving Haiti, all contributing to a substantial decline in potential growth," the IMF indicated, highlighting that "Haiti's macroeconomic outlook remains unfavorable and fraught with uncertainty."