Central African Republic: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Central African Republic

IMF Staff Country Reports, August 13, 2012

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Central African Republic: 2011 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Central African Republic

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Bibliographic details

• Published: August 13, 2012
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781475506563.002

Summary and main finding

• The Staff Report for the 2011 Article IV Consultation found the macroeconomic performance of the Central African Republic (CAR) satisfactory despite its below-average growth compared with other countries of the region.
• The report identified lack of resources, institutional frailties, and overdependence on external assistance among factors responsible for the tardy economic growth and increase in poverty.
• The report observed that the economy is poised for a medium-term recovery with budgetary discipline and transparency, and effective management of public debt.

Macroeconomic performance and outlook

• Macroeconomic performance: described as satisfactory.
• Growth: characterized as below-average relative to other countries of the region.
• Medium-term recovery conditioned on:
  • budgetary discipline and transparency
  • effective management of public debt

Key constraints and challenges (as identified)

• Lack of resources
• Institutional frailties
• Overdependence on external assistance
• Increase in poverty

Policy implications and priorities (as implied by report observations)

• Strengthen budgetary discipline and transparency.
• Improve management of public debt.
• Address resource constraints and institutional frailties to support higher growth and poverty reduction.
• Reduce overdependence on external assistance through domestic capacity building and revenue measures.

Subject classification and keywords

• Subject: Commercial banks, Financial institutions, Health, Oil prices, Prices, Public debt, Revenue administration
• Keywords: authority, C.A.R. economy, CAR authorities, CAR well, Commercial banks, CR, development partner, economy of the Central African Republic, Global, ISCR, Oil prices, payment arrears, policy, Sub-Saharan Africa

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