Haiti has a Vision, to become an emerging market by 2030

Marie Carmelle Jean Marie, Minister of Finance and Economy to Haiti, has seen the future and it involves, as always, reducing the country's need for aid from foreign lands and a modernization of the economy. What's new is that the goal is to change Haiti from a frontier market to an emerging market by 2030; the catch is to keep her ambitious application from becoming 'just a slogan!'

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The plan, which involves attracting investments from companies in the US, Venezuela and the Dominican Republic, would boost public finances. Jean Marie expressed the concern that this could not happen unless Haiti proves to investors it can manage its resources well. This demand for transparency and effective management was put into glaring light when Canada stopped its aid at the beginning of the year due to deficiencies in accountability. In the minister's bid to replace aid with investment, the role of PPPs (Public private partnerships) will be essential to revitalize the agricultural sector, which has been devastated by natural disasters time and again.

The fickle nature of international aid demands a plan for self-sustainability. A decline of 32% in donations after the earthquake three years ago has already manifested in the halving of Haiti's reserves and, according to the central bank, the 2011/2012 fiscal year which ended in September shows an account deficit of 4% of the GDP, a figure that will continue to grow.

Jean Marie states that it is a very great ambition, turning Haiti into an emerging market on so short a time-scale. But, as she stated in her own words, the alternative is leaving 'people as if they were beggars'. One doesn't need a crystal ball to see that the country must take steps to turn its beggars into choosers.

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Read more: economy, business, emerging market, Marie Carmelle Jean Marie, Business & Finance

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