ARTICLE - FINACE COLLOQUIUM

FINANCE, THE FOCUS OF A MAJOR COLLOQUIUM IN PORT-AU-PRINCE
(Haiti Libre) -

During 4 days [from 17 to 20 April 2012] at the hotel Karibe, international and local actors will discuss public finance during a symposium organized by the Group Croissance under the theme "Facilitate financial inclusion in Haiti". There will be discussed among others, the impacts of the global financial crisis on the region, the new regulatory framework of private insurance, the accounting system in Haiti, monetary development, microfinance, mobile banking...

Economist Kesner Pharel, CEO of Group Croissance stressed that in the Dominican Republic, bank deposits amount to over $15 billion U.S. dollars compared to a little over $3 billion in Haiti; stating that during this conference, Dominican actors from the financial sector will share their experiences.

He also noted that in Haiti, while the Government preaches decentralization, the total deposits in the banking system are concentrated, with 87% in the West department, 5% in the Northeast region, less than 4% in the Centre, and about 5% in the South of the country. Describing this imbalance of financial insecurity, this situation is for him the expression of the poverty that exists in these regions and also explains the interest of commercial banks, who are more attracted to the regions with high economic activity, and which abandon the other regions where they are poorly represented.

Mr. Pharel estimates that our leaders should understand the necessity of developing policies for the socioeconomic development of regions. "For the past two years, while the authorities more than ever advocate decentralization, the banking system reports an increase in the concentration of its activities, and the exclusion of a large part of the national territory."