Regulatory Alerts2024-06-05
Impact of Insecurity on Human Capital: Financial Sector
The Bank of the Republic of Haiti (BRH) issued a report detailing the severe impact of deteriorating security conditions on the Haitian financial sector's human capital and physical assets between 2022 and 2024. The document highlights a significant exodus of skilled personnel, with over 626 employees leaving the banking system from October 2022 to December 2023, driven largely by emigration and safety concerns. Additionally, the report quantifies substantial physical losses from looting and arson across commercial and non-bank institutions, noting that recruitment efforts have struggled to replace the lost experienced workforce.
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