- published: 01 Nov 2013
- views: 860
Haiti is the poorest country in the Americas. It is a free market economy that enjoys the advantages of low labor costs and tariff-free access to the US for many of its exports. Poverty, corruption, and poor access to education for much of the population are among Haiti's most serious disadvantages. Two-fifths of all Haitians depend on the agriculture sector, mainly small-scale subsistence farming, and remain vulnerable to damage from frequent natural disasters, exacerbated by the country's widespread deforestation. A macroeconomic program developed in 2005 with the help of the International Monetary Fund helped the economy grow 1.8% in 2006, the highest growth rate since 1999. Haiti suffers from higher inflation than similar low-income countries, a lack of investment (increasing however since the recent presidential seating), and a severe trade deficit. The government relies on formal international economic assistance for fiscal sustainability. In 2006, Haiti held a successful donors conference in which the total aid pledged exceeded Haiti's request. Remittances are the primary source of foreign exchange, equaling nearly 20% of GDP. Haiti's economy was severely impacted by the 2010 Haiti earthquake which occurred on January 12, 2010.
Haiti i/ˈheɪti/ (French: Haïti [aiti]; Haitian Creole Ayiti [ajiti]), officially the Republic of Haiti (République d'Haïti; Repiblik Ayiti), is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti (land of high mountains) was the indigenous Taíno or Amerindian name for the island. The country's highest point is Pic la Selle, at 2,680 metres (8,793 ft). The total area of Haiti is 27,750 square kilometres (10,714 sq mi) and its capital is Port-au-Prince. Haitian Creole and French are the official languages.
Haiti's regional, historical, and ethno-linguistic position is unique for several reasons. It was the first independent nation of Latin America and the Caribbean, the first black-led republic in the world, and the second republic in the Americas when it gained independence in 1804 as part of a successful slave revolution lasting nearly a decade. In 2012, Haiti announced its intention to seek associate membership status in the African Union. Haiti is the only predominantly Francophone independent nation in the Americas. It is one of only two independent nations in the Americas (along with Canada) to designate French as an official language; the other French-speaking areas are all overseas départements, or collectivités, of France.