The International Monetary Fund (IMF) has extended its Staff-Monitored Programme with Haiti through June 2027 as rising oil prices linked to the conflict in the Middle East add fresh pressure on a country already battling gang violence, political instability and a seventh straight year of economic contraction.

In a statement released Thursday, the IMF said management approved the third review of the arrangement on May 5 and agreed to extend the programme through June 19, 2027, as Haitian authorities attempt to preserve macroeconomic stability during a fragile political transition and worsening humanitarian crisis.

A Staff-Monitored Programme is an informal arrangement used by the IMF to monitor reforms and build a policy track record but does not itself include IMF financing or executive board approval.