Haiti’s Fourth Review under the IMF’s Extended Credit Facility in 2012 found that, despite political instability and slow post-earthquake reconstruction, the country made progress in macroeconomic stability, with inflation falling to 5.2% and international reserves rising to $2.1 billion (5.5 months of imports). Economic growth was weaker than expected (4.5% vs. a 7.8% target) due to delayed public investment, but fiscal performance was strong, with the deficit well below target thanks to robust revenue and under-execution of capital spending. The government launched major social initiatives in education, cash transfers, and food security, and continued reforms in public financial management, tax administration, and the electricity sector. However, challenges remained in accelerating structural reforms, improving public investment execution, and reducing vulnerability to shocks, with the IMF recommending continued focus on revenue mobilization, governance, and structural reforms to sustain growth and reduce poverty.