Central African Republic: First Review Under the Staff-Monitored Program
IMF Staff Country Reports, April 27, 2022
Source details
- Canonical URL
- Central African Republic: First Review Under the Staff-Monitored Program
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Bibliographic details
- Published: April 27, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400207716.002
Security and political developments
- The fragile security environment has improved following the attempt by armed groups to seize power at the turn of the year 2021.
- The surrender of a key rebel leader to the International Criminal Court represents a key step in the peace process.
- President Touadéra has launched the Republican dialogue peace initiative alongside the Luanda Road Map spearheaded by neighboring countries.
Economic activity and inflation
- The reopening of the Douala-Bangui corridor reinvigorated activity and curbed inflationary pressures.
Health situation
- The third Covid-19 wave is receding, but vaccination has been slow.
Fiscal situation and donor support
- Donors have delayed disbursing budget support pending greater transparency in the government’s security-related spending.
- This delay poses substantial fiscal and social risks given the heavy reliance on budget support.
External shocks and macroeconomic vulnerabilities
- There has been a sharp deterioration in terms of trade, reflecting food and fuel price shocks.
- Geo-political spillovers have compounded these shocks.
- The combined shocks will exacerbate existing vulnerabilities and further erode policy space.
Subject classifications and keywords
- Subject: Arrears, Budget planning and preparation, Expenditure, External debt, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration
- Keywords: Arrears, Budget planning and preparation, budget support, Global, IMF financing arrangement, IMF team, IMF's transparency policy, management of the International Monetary Fund
Content in this bundle
- EXECUTIVE SUMMARY — Central African Republic Staff‑Monitored Program