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EXIMBANK RELATIONSHIP WITH HAITI
Oct. 16, 1978, midnight
1. EXIMBANK OFFICIALS HAVE MET SEVERAL TIMES WITH AMBASSADOR FROM HAITI AND OTHER INTERESTED OFFICIALS TO DISCUSS WHAT FINANCIAL ASSISTANCE, IF ANY, COULD BE PROVIDED. MOST OBVIOUS ASSISTANCE WAS EXIMBANK'S COOPERATIVE FINANCING FACILITY (CFF) WHEREBY A CREDIT LIMITED OFFICIAL USE LIMITED OFFICIAL USESTATE 262228 FACILITY COULD BE OFFERED TO A CREDITWORTHY HAITIAN FINANCIAL INSTITUTION. AFTER FURTHER DISCUSSIONS THE CFF PROGRAM WAS FOUND NOT TO BE FEASIBLE DUE TO NO AVAILABLE HAITIAN BANK FOR MEDIUM-TERM (UP TO FIVE YEARS) FINANCING. IN ADDITION, NO U.S. BANK COULD QUALIFY SINCE THESE BANKS WOULD REQUIRE AN EXIMBANK GUARANTEE WHICH IS NOT PROVIDED UNDER THE CFF PROGRAM. FURTHERMORE, BOTH EXIMBANK AND THE REPRESENTATIVES FROM HAITI AGREED THAT THE CENTRAL BANK WAS NOT THE APPROPRIATE Sheryl P. Walter Declassified/Released US Department of State EO Systematic Review 20 Mar 2014 Sheryl P. Walter Declassified/Released US Department of State EO Systematic Review 20 Mar 2014 VEHICLE TO USE. 2. IN VIEW OF HEAVY DEPENDENCE ON CONCESSIONAL OR AID-TYPE FINANCING, EXIMBANK SUPPORT THROUGH MEDIUM-TERM OR LONG-TERM PROGRAMS IS NOT AVAILABLE AT THIS TIME. EMBASSY SHOULD BE AWARE THAT EXIMBANK/FCIA CURRENTLY PROVIDE SHORT-TERM COVERAGE ON U.S. EXPORTS PROVIDED THAT THERE IS AN IRREVOCABLE BANK LETTER OF CREDIT PAYABLE IN U.S. DOLLARS IN THE U.S. 3. EXIMBANK NOTES THAT HAITI IS NOT, REPEAT NOT, THE ONLY COUNTRY IN LATIN AMERICA WHERE FINANCIAL SUPPORT IS NOT AVAILABLE. AS TO THE REFERENCED IMF EXTENDED FUND FACILITY, IMF STAFF INDICATED AGREEMENT IS STILL IN THE NEGOTIATING STAGE. CONSEQUENTLY, THE HAITIAN ECONOMIC SITUATION WILL NOT BE CLARIFIED UNTIL AFTER AN IMF/GOH PROGRAM HAS BEEN DEVELOPED AND AN ANALYSIS BY THE IMF OF HAITI'S PERFORMANCE UNDER THE EXTENDED FUND FACILITY HAS BEEN MADE. EXIMBANK WILL CONTINUE TO MONITOR CLOSELY THE COUNTRY CONDITIONS IN HAITI. LIMITED OFFICIAL USE LIMITED OFFICIAL USE PAGE 03 STATE 262228 4. EXIMBANK DOES NOT ANTICIPATE A STAFF VISIT TO HAITI AT THIS TIME. CHRISTOPHER LIMITED OFFICIAL USE NNN Sheryl P. Walter Declassified/Released US Department of State EO Systematic Review 20 Mar 2014 Sheryl P. Walter Declassified/Released US Department of State EO Systematic Review 20 Mar 2014