International Monetary Fund. External Relations Dept.
This paper highlights that IMF activities in the first three months of 1977 were marked by a number of “firsts.” In addition to approving the largest stand-by arrangement in its history—the SDR 3.36 billion for the United Kingdom—the IMF welcomed its first new member of the year: Guinea-Bissau; held its first gold auction on behalf of the Trust Fund under the new schedule of monthly auctions; made its first loan disbursements as a Trustee of the Trust Fund; and held the first sale of gold for “restitution.”
The economy of Haiti is recovering despite the challenging international and domestic environments. The FY2011 budget appropriately supports the reconstruction objectives in a context of sustainable public financing. Monetary policy remains geared toward keeping inflation in the single digits. The structural reform agenda continues to focus on improving the business climate and promoting private sector-led growth. International assistance is critical to recovering from the 2010 earthquake in Haiti. Reconstruction is under way, albeit at a slower pace than envisaged. The humanitarian response from donors to the earthquake was quick and sizable.