Given the indifference of Prime Minister Conille and the CPT, should we expect other private companies, facing the same challenges as Citibank and FINCA, refusing to collude with armed criminal gangs, to also announce their withdrawal from Haiti?
Nearly 48 hours after the announcement of Haiti’s withdrawal from Citibank and FINCA, due to the instability of the security situation, no reaction has been recorded either at the level of the Presidential Transitional Council (CPT) or the Prime Minister’s office.
Many expected a reaction from the government or members of the CPT to the withdrawal of these two international financial institutions from the country.
The government could have sought to communicate clearly the reasons for the withdrawal from international financial institutions and to clarify the potential consequences for the national economy.
An assessment of the immediate and long-term economic impacts should be undertaken to understand how this could affect the economic and financial stability of the country.
The Conille-Leblanc administration could begin to explore alternative solutions to replace the financing or support provided by international financial institutions, such as partnerships with other countries or regional institutions.
Domestic economic and political reforms may be necessary to restore confidence in international financial markets and attract new foreign investment.
Conille could also engage in dialogue with international financial institutions and other economic partners to explore ways to restore cooperation and rebuild mutual trust.
This move would reflect a typical approach that would seek to manage the consequences of the withdrawal of international financial institutions while seeking to maintain economic stability and restore investor confidence.
But this seems to be the least of the worries of Prime Minister Conille and the members of the CPT.
And this lack of interest and the non-reaction of the Conille government to the withdrawal of international financial institutions exposes the country to the following consequences:
1. **Increased economic instability:** Failure to respond could worsen economic and financial uncertainty, which could lead to fluctuations in financial markets, a depreciation of the national currency and an increase in interest rates.
2. **Decrease in investor confidence:** Failure to take measures to stabilise the situation could reduce the confidence of foreign and domestic investors, which could lead to capital flight and a reduction in foreign direct investment (FDI).
3. **Credit Rating Impact:** Failure to respond could lead to a downgrade of the country’s credit rating by international rating agencies, making access to financing on international markets more costly and difficult.
4. **Impact on the national financial sector:** The domestic financial sector could also be affected, with reduced access to credit and increased financing costs for businesses and households.
5. **Loss of international credibility:** Failure to engage could harm the country’s international credibility and its relations with trading partners and international financial institutions, which could negatively affect future cooperation and diplomatic negotiations.
In summary, the failure of the Garry Conille government to react to the withdrawal of international financial institutions could intensify existing economic and financial problems, reduce investor confidence and worsen the country’s macroeconomic conditions.
Under these conditions, given the indifference of Prime Minister Conille and the CPT, should we expect that other private companies, faced with the same challenges as Citibank and FINCA, refusing to collude with armed criminal gangs, will also announce their withdrawal from Haiti?
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