The Republic of Haiti Essay

On the Caribbean Sea's Hispaniola Island lays the Republic of Haiti. Due to problems including political instability, corruption, gang violence, a lack of economic opportunities, and weak governance, Haiti has the poorest population in the Western Hemisphere. Researching Haiti's lending institutions, healthcare system, and human capital is the aim of this article. The study will examine how international financial institutions have helped or hampered Haiti's social, economic, and political development. In-depth healthy policies that can boost Haiti's economy will also be covered in the research, along with how the Haitian government has improved the country's healthcare infrastructure with the help of international aid. Contributions of Global Financial Institutions to Haiti Development

Haiti showed promising economic spike before the 1970s, but bad governance and predatory economic policies of past Haitian governments coupled with natural disasters are the primary contributors to the economic challenges in Haiti (Perito, & Hsu, 2010). For example, Haiti was starved of natural resources for sustainable growth and development during the dictatorial regime of "Baby Doc" Jean-Claude Duvalier (Perito, & Hsu, 2010). The 2010 earthquake dealt the greatest blow to the social, economic and political development of Haiti. According to the World Bank, the disaster left 230000 people dead, and another 2.3 million homeless which crumbled the productive and promising human capital. Economically, damages and losses were estimated to amount to $ 1.9 billion or a backward negation of 22 % of the Haitian Growth Domestic Product (GDP) ("Overview of Haiti," 2017). Haiti also has a weak capacity for making long-term economic policies. For example, there was no elected successor after President Michel Martelly completed his 5-year term, which undermined the public finance severely due to a volatile political environment coupled with a weak rule of law ("Overview of Haiti," 2017).

International Financial Institutions (IFI), nations and private donors are primarily responsible for contributing funds towards the development of Haiti. For example, the IMF executive board approved loans amounting to $ 114 million on 17th January 2010 that would finance the restoration of financial institutions in Haiti and kick start the rebuilding of the economy ("IMF Support for Haiti," 2010). Before the earthquake in 2010, the IMF, the World Bank, Inter-American Development Bank and international financial institutions contributed close to $ 2.2 billion for debt relief in Haiti in June 2009 to lay a foundation for political stability in the Country. ("IMF Support for Haiti," 2010). The development of human capital is crucial for Haiti’s development, and the country has an abundant human capital with most of the population being between 15 and 25 years old. The World Bank Group recognized the necessity of human capital in Haiti and endorsed a framework in September 2015 that provide economic opportunities for the population and reduce stability with the aim of improving the productivity of Haiti’s human capital ("Overview of Haiti," 2017). IFIs have been instrumental in the social development of Haitians. For example, since 2012, the World Bank has financed 437905 tuition waivers for disadvantaged children, provided over 372,359 pupils with meals and offered grants to 2824 schools for re-opening after the 2010 earthquake ("Overview of Haiti," 2017).

Ways in which a Healthy Population Strengthens the Economy of Haiti

Firstly, the reconstruction of a strong public health infrastructure is essential for Haiti’s capacity to save lives and enhance health care. For example, after the 2010 earthquake, the American Centers for Disease Control and Prevention (CDC) partnered with Haiti Health Ministry to rebuild two buildings destroyed during the quake. The buildings would house medical staff that would carry out laboratory testing, conduct research and administer treatment for epidemic such as cholera that occurred in 2012 (Stokes, 2013). The overall outcome is improved health care for a good human capital. Secondly, the creation of proper sanitation systems is crucial for reducing the rate of disease outbreak and management of health disasters. For example, the government has sought funding from the World Bank to improve access to clean water on the south side of Haiti as a way to control water-borne illnesses that have a high prevalence in crowded settlement camps ("Overview of Haiti," 2017). Thirdly, the development of foundational health systems such as vaccination and immunization programs for young children is necessary for improving life expectancy and growing a strong generation of economic drivers. For example, vaccination after the earthquake increased to 91 % from 47 % which provided stability in the concentration camps and schools (Stokes, 2013). Researchers project that the next two decades will favor Haiti regarding human skills as a result of the current efforts to improve the health of young generation (Stokes, 2013). Fourthly, a healthy population results in high institutional performance which leads to increase productivity.

Haiti has used foreign aid to make considerable progress in health care. According to a report by Direct Relief, Haiti has created 115 health facilities that serve 4 million people throughout the country. There has been medicine supply and medical equipment supply worth $ 114 million to health centers in the ground, all of which is donor funding and foreign aid (Rael, 2015). Haitian Ministry of Health created more than 200 cholera treatment units and rehydration posts from funding by the World Bank Group. Also, the World Bank continues to partner with the government to sponsor the education and training health workers to enhance health care at the community level and primarily promote hygiene. Other funds have been channeled towards the reconstruction of more hospitals, the repair and maintenance of health equipment and facilities, increasing capacity and resilience, etc.

Conclusion

The development of Haiti relies on the progress of all facets on the nation such as political stability, improved health care, strong financial institutions and a strong rule of law. Haiti continues to make slow progress amid corruption in government, but foreign aid and donor funding have helped manage the humanitarian crisis. However, more needs to be done to control future ramifications of piling debt and poor leadership.























References

Perito, R., & Hsu, E. (2010). Haiti's Economic Challenge. United States Institute of Peace. Retrieved 29 May 2017, from [www.usip.org/publications/2006/07/haitis-economic challenge].

Overview of Haiti. (2017). World Bank. Retrieved 29 May 2017, from [www.worldbank.org/en/country/haiti/overview].

IMF Support for Haiti. (2010). International Monetary Fund. Retrieved 29 May 2017, from [www.imf.org/external/np/exr/cs/news/2010/cso113.htm].

Stokes, C. (2013). Rebuilding Public Health in Haiti. Robert Wood Johnson Foundation. Retrieved 29 May 2017, from

[www.rwjf.org/en/culture-of-health/2013/02/rebuilding_publiche.html]

Rael, H. (2015). Five Years After Quake, Committed to Improving Health in Haiti. Direct Relief. Retrieved 29 May 2017, from

[www.directrelief.org/2015/01/five-years-after-quake-committed-to-improving-health-in-haiti/]