Certainly! Here is the complete financial report of Haiti translated into International English:

Complete Financial Report of Haiti

Basic Information

• Official Country Name: Republic of Haiti

• Official Languages: French and Haitian Creole (Ayiti)

• Country ISO Code: HT

• Current Official Currency: Haitian Gourde

• Currency ISO Code: HTG

Monetary History of Haiti

Current Official Currency: Gourde (HTG)

• Name in French: gourde

• Name in Haitian Creole: goud

• ISO Code: HTG

• Subdivision: 1 gourde = 100 centimes

• Fraction Name: centime (used in both French and Creole)

• Date of First Issuance: 1813 (official introduction)

• Mint: Initially local minting, later Paris Mint (from 1881)

• Issuing Bank: Bank of the Republic of Haiti

• Coin Denominations: 5 centimes (called “penny” in Creole), 10, 20, 50 centimes; 1 gourde; 5 gourdes (also called “ardóquin” in Creole)

• Banknote Denominations: 10, 20, 50, 100, 250, 500 gourdes

• Current Status: actively circulating currency

• Historical Exchange Rates:

  • The gourde replaced the Haitian livre in 1813 at a rate of 1 gourde = 8 livres and 5 sous (French colonial livre).

  • In 1881, the gourde was pegged to the French franc (5 francs = 1 gourde), joining the Latin Monetary Union.

  • In 1912, the peg was suspended, and the gourde was linked to the US dollar at 5 gourdes = 1 dollar (devaluation).

  • In 1989, the fixed exchange rate was abandoned, and the gourde became a floating currency.

Historical and Economic Context

• The gourde was created following Haiti’s independence (1804), replacing the Haitian livre which itself derived from the French colonial livre.

• The currency has undergone multiple devaluations due to political instability, economic crises, and natural disasters (e.g., 1842 earthquake in Cap-Haïtien).

• Haiti was forced to pay a massive indemnity to France (150 million gold francs in 1825, reduced to 90 million in 1838) as compensation to former colonists under threat of military intervention, severely impacting the economy for over a century and creating a “double debt” (payments to France plus interest on French loans).

• In the 19th century, there was a chronic shortage of physical currency, leading to increased issuance of banknotes.

• The Paris Mint struck coins for Haiti starting in 1881.

• Since the late 20th century, the gourde has been a floating currency with high volatility due to the country’s economic instability.

Interesting Facts

• The name “gourde” does not refer to the gourd plant but derives from the Spanish word gordo (meaning “fat”), referring to the Spanish eight-real coin widely used in the region.

• In Haitian Creole, the 5-centime coin is called “penny” and the 5-gourde coin is called “ardóquin.”

• The gourde is a strong symbol of Haitian independence and identity.

• Commemorative coins have been issued to mark important historical anniversaries, such as the 500th anniversary of the discovery of America.

Summary Table

This report has been prepared in International English as requested, based on available historical and financial data about Haiti’s currency.