Central African Republic: 2018 Article IV Consultation, Fifth Review under the Extended Credit Facility Arrangement, and Financing Assurances Review

International Monetary Fund

No 2018/380, IMF Staff Country Reports from International Monetary Fund

Abstract: The Central African Republic (C.A.R.) is a fragile state with an unstable security environment and widespread poverty. Macroeconomic conditions have stabilized following the 2013 crisis: growth has resumed, inflation has declined, domestic revenues have recovered, and debt ratios have decreased. The government’s economic strategy is supported by an arrangement under the Extended Credit Facility (ECF)—launched in July 2016—with total access of SDR 133.68 million (120 percent of quota). Program performance has been satisfactory. All end-June 2018 quantitative and continuous performance criteria were met. Discussions focused on the 2019 budget, policy responses to a higher global oil price, and reforms to improve public financial management and governance. The program is supported by union-level efforts to maintain an appropriate monetary policy stance, build up regional reserves, and promote financial sector stability.

Keywords: ISCR; CR; LIOA policy; supplementary information; financing; government; policy; asset declaration regime; government arrears; economic reform agenda; Arrears; Budget planning and preparation; Oil prices; Credit; Global (search for similar items in EconPapers)
Pages: 105
Date: 2018-12-28
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