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Haiti - Covid-19 : Daily bulletin March 29, 2020

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iciHaiti - BRH : Measures to mitigate the deterioration of the living conditions of the population
23/03/2020 09:36:45

iciHaiti - BRH : Measures to mitigate the deterioration of the living conditions of the population
Considering the negative impacts of the spread of Covid-19 on the financial system and the economy in general, Jean Baden Dubois, the Governor of the Bank of the Republic of Haiti (BRH) has implemented a set of measures involving financial institutions https://www.haitilibre.com/en/news-30332-haiti-flash-easing-measures-of-the-brh.html and aimed at mitigating the deterioration of the living conditions of the population.

Measures :

  • Reduction in BRH's key interest rates, which should lead to lower interest rates on loans;
  • Reduction of the reserve reserve coefficients in order to make it less costly for the banks to capture resources and grant loans;
  • Lower BRH refinancing rate to lower the cost of accessing liquidity;
  • Alleviation of loan repayment conditions for customers for a period of three (3) months;
  • BRH waives fees relating to interbank transfers (SPlH) in order to reduce transaction costs for customers;
  • Raising the limits for transactions made through mobile payment services.

In addition, the BRH encourages the population to use other means of payment than cash such as : payment cards, interbank transfers, online transactions, and mobile financial services.

All these measures will enter into force on Monday 23 March 2020.

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