Economics
Haiti Quake Set to Deepen One of World’s Longest Recessions
- Central bank chief says GDP will fall ‘way more’ than expected
- Gang activity caused regional price spikes of imported goods
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The devastating earthquake that hit Haiti last month will make one of the world’s longest recessions much deeper, according to the central bank.
The economy was already set to contract for a third straight year, but the quake will cause a downturn that is “way more” than the bank’s official forecast of a 2.1% contraction, bank Governor Jean Baden Dubois said Wednesday.