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#1776: The Gourde's depreciation : Blanchet comments
From: Max Blanchet <MaxBlanchet@worldnet.att.net>
The gourdes has, over the last 15 years,
lost 260% of its value relative to the dollar
according to the following formula:
Depreciation = [(18Gdes - 5Gdes)/5Gdes]x100
On a yearly, compounded basis, its depreciation
has been about 6.6%.
This depreciation is related to inflation in the
country which peaked at well past 50% in
1993-1994 at the height of the embargo.
To the GOH's credit, the inflation rate has been
reduced to less than 10%.
The impact of this inflation on the buying power of the
"average" Haitian consumer - who spends about 50%
of his/her income on food - remains severe.