Though independent long before, the economy of the country is still in the struggling phase. According to the recent reports, the per capita income of the country in 2009 has been a meager $ 790 that tantamounts to a nominal sum of $ 2 per day per person. Having such poor performance on the economic front, the country has almost 80% of the population below the poverty level while only half the population is believed to be literate.
The country is basically an agricultural nation but unlike many of the other nations of the world, agricultural population of Haiti does not have access to the modern means and techniques of agriculture. This is prevalent as while more than 65% of the population is engaged with agriculture, the profession yields even less than 30% of the GDP for the country (Foreign & Common Wealth Office, “Haiti”).
The extreme poor performance of the economy of Haiti has its linked consequences like that of underprivileged human resource development and that of topping the list of corruption. The other prominent demerit of the country has been the concentration of wealth. It is perceived that top 1% of the population controls almost half of the nation’s wealth. The condition of the economy is also depicted by the prime source of earning for the government which has been the external debt for years now. In 2005, a new born baby in Haiti had a liability of US $ 169 (because of external debt) though recently the international bodies like that of IMF and World Bank have written off the external debt (IMF, “Haiti: Enhanced Initiative for Heavily Indebted Poor Countries — Completion Point Document”).
The poor country of Haiti has been further affected by the disastrous environment time and again. Though the country was blessed with deep forest and had rich flora and fauna, the diminishing economy of the nation has resulted in cutting of most of such