## 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

_IMF Staff Country Reports, May 2, 2023_

## Source details

**Canonical URL:** [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](https://www.imf.org/en/publications/cr/issues/2023/05/02/central-african-republic-2023-article-iv-consultation-and-request-for-a-38-month-533019)

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## Bibliographic details
- Published: May 2, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400237966.002

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### Overview
- 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 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.

### Program objectives and expected outcomes
- Help meet CAR’s protracted balance of payments needs.
- Sustain priority spending on basic public services in health and education.
- Provide a policy framework to advance key reforms.

### Financing, debt, and risk considerations
- CAR has a high risk of debt distress and a limited revenue base.
- Given these constraints, CAR will have to continue its effort to mobilize grants to finance its economic needs.
- Continued financial and technical support from development partners remains critical to the program’s success.
- Close cooperation with international partners on humanitarian assistance is essential for supporting the population.

### Governance and safeguards
- The program contains important governance safeguards for the use of IMF resources.
- Implementation of these safeguards is integral to program credibility and effectiveness.

### Regional policy coordination
- 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.
- These regional policies notably aim at supporting an increase in regional net foreign assets and are ultimately critical to program’s success.

### Key takeaways
- The 38-Month ECF-supported program targets balance of payments stabilization, protection of spending on health and education, and a policy framework for reforms.
- Success depends on: mobilizing grant financing, continued development partner support, effective governance safeguards, humanitarian cooperation, and regional policy implementation to increase regional net foreign assets.

*International Monetary Fund. May 2, 2023. 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.*

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## Content in this bundle

- **1cafea2023001 - Executive Summary**
  - [1cafea2023001 - Executive Summary (Markdown version)](/-/media/files/publications/cr/2023/english/1cafea2023001.pdf.md){rel="alternate" type="text/markdown"}
  - [1cafea2023001 - Executive Summary (PDF)](/-/media/files/publications/cr/2023/english/1cafea2023001.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2023/05/02/central-african-republic-2023-article-iv-consultation-and-request-for-a-38-month-533019_