Central African Republic: First Review Under the Staff-Monitored Program

April 27, 2022

Preview Citation

Format: Chicago

Central African Republic: First Review Under the Staff-Monitored Program, (USA: International Monetary Fund, 2022) accessed November 24, 2024

Also available in: français

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. President Touadéra has launched the Republican dialogue peace initiative alongside the Luanda Road Map spearheaded by neighboring countries. The surrender of a key rebel leader to the International Criminal Court represents a key step in the peace process. Donors have delayed disbursing budget support pending greater transparency in the government’s security-related spending. This poses substantial fiscal and social risks given the heavy reliance on budget support. The sharp deterioration in terms of trade, reflecting food and fuel price shocks, compounded by geo-political spillovers, 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

Publication Details

Pages:

55
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/125
Stock No:

1CAFEA2022002
ISBN:

9798400207716
ISSN:

1934-7685

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