Following the meeting of its Monetary Policy Committee (CPM), the Bank of the Republic of Haiti (BRH) has decided to adopt several measures :
1. Decrease of 2 percentage points on BRH bonds for the different maturities. The rates for maturities of 91 days (16%), 28 days (12%) and 7 days (10%) will now be 14%, 10% and 8%. "The current relative stability of the exchange rate allows the BRH to lower rates, allowing commercial banks to have more facility to provide loans," stated Jean Baden Dubois, the Governor of the BRH.
2. Exemption from reserve requirements on resources used by banks to grant loans to the agricultural sector in order to facilitate access to loans related to the financing of agricultural and livestock enterprises.
3. Change in the circular letter 81-4 on net foreign exchange position. The ratio remains unchanged at 2%, but the circular states that the off-balance sheet items, can not be considered in the calculation of the foreign exchange position.
4. Modification of the circular letter 09-1 on the obligation for banks to report periodically on loans granted to customers in order to boost lending to the hotel sector.
