Central African Republic: 2023 Article IV Consultation and request for a 38-month arrangement under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic

International Monetary Fund

No 2023/155, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Central African Republic’s (CAR) 2023 Article IV Consultation and Request for a 38-Month Arrangement under the Extended Credit Facility (ECF). The ECF-supported program will help meet CAR’s protracted balance of payments needs, sustain priority spending on basic public services in health and education, and provide a policy framework to advance key reforms. The program is part of a coordinated effort by international financial institutions that aims to support the people of CAR and avert a humanitarian crisis. The program contains important governance safeguards for the use of IMF resources. Continued financial and technical support from development partners remains critical to the program’s success. Given its high risk of debt distress and limited revenue base, CAR will have to continue its effort to mobilize grants to finance its economic needs. Close cooperation with international partners on humanitarian assistance is also essential for supporting the population. CAR’s economic program will continue to be supported by the implementation of policies and reforms agreed among the Central African Economic and Monetary Community regional institutions, which notably aim at supporting an increase in regional net foreign assets and which are ultimately critical to program’s success.

Keywords: staff appraisal; fund lending to the Central African Republic; issuance of the Staff report; CAR authorities; financing to the Central African Republic; Budget planning and preparation; Arrears; Global; Central Africa (search for similar items in EconPapers)
Pages: 119
Date: 2023-05-02
New Economics Papers: this item is included in nep-cis
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=533019 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2023/155

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().