The textiles industry could lose 25,000 employees by December, a trade leader told Le Nouvelliste.
Fernando Capellan, president of the Industrial Development Company (CODEVI), said the job loss is due to the rise in value of Haiti’s gourde (G). Textile businesses are one of the country’s more reliable provider of garment factory jobs, among other roles. It is not clear where the officials are saying that companies would have difficulty paying employees higher wages as a result of the currency rise.
Patrick Boisvert, Haiti’s Minister of Finance and Economy, said he is in discussions with textiles industry officials to address the issue.
Haiti’s currency value increased by 60 G within one month as of late September. Despite the negative impact on the textile industries, the prices of food products and beverages like rice, soda and milk slightly decreased.