Clothes don’t cover Haiti’s problems

Grupo M's factory at Codevi, near Ouanaminthe

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It’s an understatement to say that the island of Hispaniola in the Caribbean is one of contrasts. The land mass contains two countries – the Dominican Republic and Haiti.

The former has been one of the fastest growing economies in Latin America for 20 years – GDP growth averaged around 5% during that period – and it has a strong business and finance community.

The international investment community has followed its international bond deals down in yields, out in tenors and even into local currency-denominated transactions.

Meanwhile, Haiti is the poorest country in the western hemisphere. Per capita GDP is $1,800 (the Dominican Republic’s is $17,000), putting the country 213th in the world, according to US government statistics.