Port-au-Prince, February 24, 2026.- The Haitian economy sinks into a « dual circulation » where the dollar gradually supplants the gourd, weakening the control of the Bank of the Republic of Haiti (BRH) over national policy. Between galloping inflation, political instability and the omnipresence of diaspora transfers, the national currency loses its pivotal role. In order to raise the bar, the Central Bank is relying on stabilization policies aimed at restoring the confidence of economic agents and protecting the purchasing power of citizens.
The phenomenon of dollarization in Haiti is based on three critical pillars: persistent inflation that devalues the gourd, chronic instability pushing savers towards safe haven values, and a massive injection of dollars via NGOs and money transfers. This creates a vicious circle where prices are no longer fixed according to the local currency, but modelled on the green note. As a result, BRH is reduced in its ability to intervene, losing its role as an effective regulator and symbol of the country's economic strength to a foreign currency that has become omnipresent in all consumption strata.
This loss of institutional control weakens the entire financial system. When economic agents push the gourd, the BRH loses its main lever to steer the economy. The national currency then becomes a simple payment instrument for small transactions, while the dollar grabs savings and price reference functions. This imbalance exposes the most precarious households, paid in gourdes but consuming dollar-indexed products, to a constant erosion of their standard of living, while making national economic forecasts almost impossible.
Despite this alarming finding, the situation is not irreversible. By drawing inspiration from international models that have succeeded in « dedollarization »The BRH aims to strengthen the value of the gourd through rigorous technical measures and a willingness to stabilize the exchange rate. The aim is to restore an environment where the use of the national currency becomes a competitive advantage and a guarantee of stability. By restoring that confidence, the institution hopes to build a stronger and more independent economy, thus guaranteeing monetary sovereignty that is restored to the service of local development.
W.A.
