## Central African Republic: Selected Issues

_IMF Staff Country Reports, May 2, 2023_

## Source details

**Canonical URL:** [Central African Republic: Selected Issues](https://www.imf.org/en/publications/cr/issues/2023/05/02/central-african-republic-selected-issues-533022)

## Other formats

- [Markdown version](/en/publications/cr/issues/2023/05/02/central-african-republic-selected-issues-533022/index.md)
- [Structured JSON version](/en/publications/cr/issues/2023/05/02/central-african-republic-selected-issues-533022/index.json)
- [Bundle manifest](/en/publications/cr/issues/2023/05/02/central-african-republic-selected-issues-533022/bundle-manifest.json)

## Bibliographic details
- Published: May 2, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400239946.002

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### Scope and focus
- Selected Issues paper on the fintech and crypto assets in the Central African Republic (CAR).
- Examines CAR’s initial steps, including the 2022 crypto law and the launch of a digital coin named Sango and a namesake platform-ecosystem.

### Key findings and developments
- CAR’s 2022 crypto law:
  - Created legal uncertainties at the Central African Economic and Monetary Community level.
  - Raised numerous concerns, though some of the most controversial provisions have been recently revised.
- Project Sango:
  - Authorities proceeded with the launch of a digital coin named Sango and a namesake platform-ecosystem with multifaceted features.
  - Only a limited amount of coins have been issued.
  - Other elements of the project have not been launched.
  - Attracted considerable interest for its potential to bring opportunities through digitization.
- Risk profile:
  - Project Sango raises complex risks spanning macro-fiscal and financial to financial integrity, governance, consumer protection and others.
  - The project appears too complex, creating interconnectedness between multiple sectors and private and public balance sheets in a manner that could raise systemic risks.
  - Points to the importance of reconsidering the existing blueprint.

### Policy implications and recommendations (implicit from analysis)
- Reconsider the existing Sango blueprint to address complexity and potential systemic risks.
- Address legal uncertainties within the Central African Economic and Monetary Community framework arising from the 2022 crypto law.
- Weigh digitization opportunities against risks to macro-fiscal stability, financial integrity, governance, and consumer protection before scaling project elements.

### Subject tags and keywords (as reported)
- Subject: Food security, Fuel prices, International organization, Monetary policy, Poverty, Price structures, Prices, Revenue administration, Technology, Virtual currencies
- Keywords: CAR authorities, cryptographic ambition, Food security, Fuel prices, fuel products, Global, import cost audit, Price structures, reforming fuel price, Sub-Saharan Africa, Virtual currencies

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## Content in this bundle

- **Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023**
  - [Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023 (Markdown version)](/-/media/files/publications/cr/2023/english/1cafea2023002.pdf.md){rel="alternate" type="text/markdown"}
  - [Central African Republic: Selected Issues; IMF Country Report No. 23/156; April 18, 2023 (PDF)](/-/media/files/publications/cr/2023/english/1cafea2023002.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-selected-issues-533022_