{
  "title": "Central African Republic: First Review Under the Staff-Monitored Program",
  "publication": "IMF Staff Country Reports, April 27, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/04/27/central-african-republic-first-review-under-the-staff-monitored-program-517329",
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  "summary": "The fragile security environment has improved following the attempt by armed groups to seize power at the turn of the year 2021. The reopening of the Douala-Bangui corridor reinvigorated activity and curbed inflationary pressures. The third Covid-19 wave is receding, but vaccination has been slow.",
  "sections": [
    {
      "heading": "Security and political developments",
      "content": "- The fragile security environment has improved following the attempt by armed groups to seize power at the turn of the year 2021.\n- The surrender of a key rebel leader to the International Criminal Court represents a key step in the peace process.\n- President Touadéra has launched the Republican dialogue peace initiative alongside the Luanda Road Map spearheaded by neighboring countries."
    },
    {
      "heading": "Economic activity and inflation",
      "content": "- The reopening of the Douala-Bangui corridor reinvigorated activity and curbed inflationary pressures."
    },
    {
      "heading": "Health situation",
      "content": "- The third Covid-19 wave is receding, but vaccination has been slow."
    },
    {
      "heading": "Fiscal situation and donor support",
      "content": "- Donors have delayed disbursing budget support pending greater transparency in the government’s security-related spending.\n- This delay poses substantial fiscal and social risks given the heavy reliance on budget support."
    },
    {
      "heading": "External shocks and macroeconomic vulnerabilities",
      "content": "- There has been a sharp deterioration in terms of trade, reflecting food and fuel price shocks.\n- Geo-political spillovers have compounded these shocks.\n- The combined shocks will exacerbate existing vulnerabilities and further erode policy space."
    },
    {
      "heading": "Subject classifications and keywords",
      "content": "- Subject: Arrears, Budget planning and preparation, Expenditure, External debt, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration\n- Keywords: Arrears, Budget planning and preparation, budget support, Global, IMF financing arrangement, IMF team, IMF's transparency policy, management of the International Monetary Fund\n\n---\n\n Content in this bundle\n\n- EXECUTIVE SUMMARY — Central African Republic Staff‑Monitored Program\n  - EXECUTIVE SUMMARY — Central African Republic Staff‑Monitored Program (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - EXECUTIVE SUMMARY — Central African Republic Staff‑Monitored Program (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 27, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400207716.002",
    "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.",
    "The reopening of the Douala-Bangui corridor reinvigorated activity and curbed inflationary pressures.",
    "The third Covid-19 wave is receding, but vaccination has been slow.",
    "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.",
    "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: 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",
    "**EXECUTIVE SUMMARY — Central African Republic Staff‑Monitored Program**"
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