Central African Republic: Second Review Under the Extended Credit Facility, Requests for a Waiver of Nonobservance of Continuous Performance Criterion, Augmentation of Access, and Financing Assurance Review—Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic
IMF Staff Country Reports, June 28, 2024
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- Central African Republic: Second Review Under the Extended Credit Facility, Requests for a Waiver of Nonobservance of Continuous Performance Criterion, Augmentation of Access, and Financing Assurance Review—Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic
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Bibliographic details
- Published: June 28, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400282171.002
Macro outlook and projections
- The economy is projected to grow by 1.4 percent in 2024, up from the 0.7 percent posted in 2023.
- Inflation is projected to gradually decline in subsequent years.
- These projections hinge on expediting reforms to the fuel market.
Program implementation and performance
- Program implementation was broadly satisfactory considering significant fragilities and uncertainties.
- Performance under the program has been broadly satisfactory.
- All but one of the quantitative performance criteria were met.
- The single missed continuous performance criterion was on the nonaccumulation of external arrears.
- The missed criterion was attributed to liquidity pressures and the lack of coordination between cash and debt management units.
Fiscal and revenue issues
- An increase in revenue mobilization in 2024 will hinge on adhering to the action plan.
- The action plan aims to:
- Improve the transparency of fuel price structures.
- Align policy reforms with program goals.
- Enhance collaboration among stakeholders.
- Bolster regulatory enforcement.
Key subjects and focal points
- Arrears
- External debt
- Price structures
- Prices
- Public debt
- Revenue administration
Source: Central African Republic: Second Review Under the Extended Credit Facility, Requests for a Waiver of Nonobservance of Continuous Performance Criterion, Augmentation of Access, and Financing Assurance Review—Press Release; Staff Report; and Statement by the Executive Director for the Central African Republic (IMF Staff Country Reports 2024, No. 2024/198).
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