In general, banks are accused of all the ills of the country. The banking system is regularly indexed by not granting sufficient credits to production, growth sectors and ambitious projects. The bankers retort that the depositors' money is not theirs. If you have to finance start-ups, they will tell you that it's too risky and patati patata. Before adding that 80% of young companies disappear (in 2 years) with the same speed that they appeared in the firmament of the business.
The banking sector carries a very heavy responsibility: that of distributing the financing to the private sector, to the businessmen in order to grow the Economy. This is what Gérard Joseph, a technical consultant on the Board of Directors of the National Credit Bank, thought on Thursday, April 25, with the assistance of the fourth day of the ninth edition of the Summit on Finance. He insisted on capturing the nature of commercial banks.
"The banks of the system are essentially commercial," exclaimed Gerard Joseph. According to him, the economy needs more efforts to collect resources. A change in the financial framework to create a stock market to raise more resources over the long term would be very useful for corporate finance, especially for start-ups. At this time, people would be very interested in going to these investment firms to seize opportunities.
The problem that arises in the Haitian economy is that companies have neither funds nor fresh capital, let alone resources ready to invest in the long term. He notes that the credit portfolio distributed by private banks totals only 112 billion gourdes, which account for 18.75% of Haiti's GDP (8 billion US dollars). The other countries of Latin America and the Caribbean, he says, do much better, including the neighboring Dominican Republic.
In short, we continue to blacklist the authorities who do nothing to make the business climate attractive. In his view, the financial system is viable, and he has ambitions to go further, but structural constraints stand in their way. The year of the celebration of 40 years of the National Bank of Credit wanted Mr. Joseph to mention the remarkable work of governance done by the late Guiteau Toussaint to put this institution back on track for competitiveness. He was proud to sketch the portrait of this bank where governance issues have since disappeared.
Before Gérard Joseph, Mackensen Gomez of the Bank of the Haitian Union (BUH) and Franck Helmcke of the Professional Association of Banks, on the same panel already deplored the sorry state of the business climate. Indeed, they propose an improvement of the business climate. The bankers of the big institutions of the place, the smartest businessmen of the republic denounce in general the climate, the lack of attractiveness in Haiti. King forgers and parliamentarians are expected to have greater influence in the honorable destiny of Haiti.