Haiti, Haitian Times Morning News Roundup

Haiti’s government pledges financial help for the ​textile industry

Haiti’s government will pay a percentage of the textile industry’s employees salaries. Photo credit: Georges H. Rouzier

Haiti’s government will help the textile industry pay its employees salaries, said Michel Boisvert, the country’s minister of economy and finances. 

Boisvert did not specify how much of the employees salaries the government will cover. 

The textile industries were left in financial turmoil after the Haitian gourde exchange value  abruptly appreciated. It rose from 120 gourdes per American dollar in mid-August to 62 gourdes.

Textile industry businesses, one of Haiti’s largest sectors for employment, had not converted their revenue in gourde before the appreciation. The higher salaries resulting from the exchange means made those employers cry out. About 25,000 employees were at risk of losing their jobs by December, trade leader Fernando Capellan said. Many planned to shut their doors by December. They sought help from President Jovenel Moïse and his administration.

“I think we’re 80 percent close to finding a solution,” Moïse said. Source

Onz Chery

Onz Chery

A City College of New York graduate, Onz Chery covers politics, health, crime and other topics for The Haitian Times. He previously wrote for Elite Sports New York and the Cosmopolitan Soccer League. Chery can be contacted by email at [email protected] or on twitter @onz_11.
Onz Chery
Nov. 13, 2020

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