Economic Growth In Haiti
Security Theme
State Stability and Infrastructure
Keywords
Economic Stability, Theories of growth and development, economic growth, political stability
Description
Haiti was once the richest colony in the Caribbean, and in 1804; the country became the first black-led republic and the first independent Caribbean state. With a very promising future, the island was named “la Perle des Antilles” (the pearl of the Caribbean) exporting mainly coffee, mango, and sugar worldwide. Haiti’s early success was due to its commitment to freedom, and promotion of human rights all over the globe. However, shortly after Haiti gained its independence, the country started to experience political instability, based on racism between Mixed races and Blacks, and power struggle between the bourgeoisie and the masses. Simultaneously, the country experienced a major economic decline due to a downturn in national output, new trade barriers, and an increase in corruption which left Haiti mired in poverty.1 Today, Haitian citizens are still experiencing political instability, and the economy is undergoing a very difficult time with a 14 percent unemployment rate, and over 25 percent of the population live through extreme poverty with less than 1.25 USD per day. For decades now, the country has been known to be the poorest country in the western hemisphere, with a GDP per capita of 784.08 USD annually. According to the UNDP, in 2014, the Haitian national poverty rate was 58.6 percent, and 24.7 percent . of the population was living in extreme poverty.2
Economic Growth In Haiti
Haiti was once the richest colony in the Caribbean, and in 1804; the country became the first black-led republic and the first independent Caribbean state. With a very promising future, the island was named “la Perle des Antilles” (the pearl of the Caribbean) exporting mainly coffee, mango, and sugar worldwide. Haiti’s early success was due to its commitment to freedom, and promotion of human rights all over the globe. However, shortly after Haiti gained its independence, the country started to experience political instability, based on racism between Mixed races and Blacks, and power struggle between the bourgeoisie and the masses. Simultaneously, the country experienced a major economic decline due to a downturn in national output, new trade barriers, and an increase in corruption which left Haiti mired in poverty.1 Today, Haitian citizens are still experiencing political instability, and the economy is undergoing a very difficult time with a 14 percent unemployment rate, and over 25 percent of the population live through extreme poverty with less than 1.25 USD per day. For decades now, the country has been known to be the poorest country in the western hemisphere, with a GDP per capita of 784.08 USD annually. According to the UNDP, in 2014, the Haitian national poverty rate was 58.6 percent, and 24.7 percent . of the population was living in extreme poverty.2