Les incompatibilités structurelles mises en évidence

Abstract

This chapter synthesizes the structural contradictions observed in Haitian monetary policy between 2020 and 2025. It identifies three major tensions: monetary stability may come at the expense of public financing; public financing may weaken monetary stability; economic recovery may intensify inflationary and exchange-rate pressures. The empirical analysis shows that the BRH achieved some limited nominal results, particularly regarding the exchange rate and liquidity, but could not sustainably support the real economy or reduce dependence on donors. The chapter therefore confirms the validity of the theory of incompatibility of public choices: the objectives pursued are rational when considered separately, but they generate contradictory effects when combined in a context of institutional fragility, heavy import dependence, informality, and weak domestic production.