The economist Dr Eddy Labossière published a post entitled "the Haitian Banking System or the Quadrature of the Circle" which we reproduce in full and that we invite invite you to share.

Text by economist Eddy Labossière :

"The Gourde needs a strong increase of the National production to strengthen and stabilize itself, but the Banks which collect national savings of around 190 billion Gourdes, do not give credit to have a production National in continuous and regular growth. They do everything except their real mission, which is to provide financial intermediation, they have made of the 'financial exclusion' a purely Haitian reality.

The credit officers in our banks must return to school for a retraining in 'Accompanied credit', the accompanied credit is used in a context of high risk where the potential investors have neither guarantee nor collateral.

Another banking system is required, the current system by speculating too strongly on the Gourde can only destroy it.

Giving less than 20% of the national savings in credit, causing the depreciation of the Gourde and then come and tell that the Haitian economy does not produce or is not competitive, as if it was the fault of the other, is no longer eligible.

Today in 2020 we want real bankers in Haiti."

HL/ HaitiLibre / Dr Eddy Labossière