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.