Clothes don’t cover Haiti’s problems
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Clothes don’t cover Haiti’s problems

The country’s poverty is in marked contrast to the relative affluence of its neighbours. It needs access to finance beyond disaster relief. But can banks make a business case for a nation in such poor repair?

Planta con OperariosCM_Haiti_780

Grupo M's factory at Codevi, near Ouanaminthe

It’s an understatement to say that the island of Hispaniola in the Caribbean is one of contrasts. The land mass contains two countries – the Dominican Republic and Haiti.

The former has been one of the fastest growing economies in Latin America for 20 years – GDP growth averaged around 5% during that period – and it has a strong business and finance community.

The international investmentcommunity has followed its international bond deals down in yields, out in tenors and even into local currency-denominated transactions.

Meanwhile, Haiti is the poorest country in the western hemisphere. Per capita GDP is $1,800 (the Dominican Republic’s is $17,000), putting the country 213th in the world, according to US government statistics.

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