Jean Baden Dubois, New BRH Governor, Replacing Charles Castel

On December 17, 2015, by the virtue of a Presidential Order dated 23 November 2015, Jean Baden Dubois, the CEO of the Bank of the Republic of Haiti (BRH) has been appointed as the new Governor of the bank, replacing Charles Castel. As the new Governor of the bank, Jean Dubois has said, among other measures, his primary task would be to establish a base for the national currency and maintain a commendable internal and external value of the Haitian Gourde. To achieve this, he has stressed on the control of inflation through wealth creation and effective, innovative banking assistance services.


We might remember that in last July, how Charles Castel benefited the Dominican economy. As the then Governor of the BRH, he devalued Haitian Gourde against the Dominican Peso by about 33%, which immediately took away $500,000,000 from the Haitian people. Furthermore, some analysts are of opinion that he helped Rene Preval to take $198,000,000 in one swoop from the PetroCaribe fund. However, otherwise, Castel was an experienced banker; he served in various capacities during his long banking career and he was very much instrumental in spearheading the government's successful privatization program. BRH is the central bank of Haiti, established on 17 August 1979. One of its current popular credit initiatives is "credit enhancement". As per Wilson Laleau, the Minister of Economy and Finance, there was a significant increase in the number of loans to entrepreneurs between September 2010 to June 2015, from 70,000 to 105,000--- it has gone up by 50%. Profitability indicators have improved remarkably. A return on assets rose from 1.38 in 2011 to 1.74 in June 2015. The increase was more brisk in 2015, from 1.54 to 1.74. However, Minister Laleau believes much remain to be done to meet the current challenges.

The new council of BRH would be composed as follows: Jean Baden Dubois: Governor; Georges Henry Fils: Vice-Governor; Georgette Jean Louis: Director General; Kurdy Larèche: Member.

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