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Political Science > Agriculture & Food Policy

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Cover IMF Staff Country Reports
Central African Republic: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper on the fintech and crypto assets in the Central African Republic (CAR). CAR’s initial steps in the form of the 2022 crypto law have created legal uncertainties at the Central African Economic and Monetary Community level and raised numerous concerns but some of the most controversial provisions have been recently revised. The authorities have proceeded with the launch of a digital coin named Sango and namesake platform-ecosystem with multifaceted features. While only a limited amount of coins have been issued and other elements of the project have not been launched, project Sango has attracted considerable interest as it can potentially bring opportunities through digitization, while also raising complex risks. This range from macro-fiscal and financial to financial integrity, governance, consumer protection and others. The Sango project appears too complex, creating interconnectedness between multiple sectors and private and public balance sheets in a manner, which could raise systemic risks, pointing to the importance of reconsidering the existing blueprint.
Keywords:
reforming fuel price; import cost audit; cryptographic ambition; CAR authorities; fuel products; Virtual currencies; Food security; Fuel prices; Price structures; Global; Sub-Saharan Africa
Cover IMF Staff Country Reports
Central African Republic: Selected Issues
International Monetary Fund. African Dept.
Selected Issues
Keywords:
reforming fuel price; import cost audit; cryptographic ambition; CAR authorities; fuel products; Virtual currencies; Food security; Fuel prices; Price structures; Global; Sub-Saharan Africa
Cover IMF Staff Country Reports
Central African Economic and Monetary Community: Staff Report on the Common Policies of Member Countries, and Common Policies in Support of Member Countries Reform Programs-Press Release; Staff Report; and Statement by the Executive Director
International Monetary Fund. African Dept.
This paper presents Central African Economic and Monetary Community’s (CEMAC) IMF Staff report on Common Policies of Member Countries and Common Policies in Support of Member Countries Reform Programs. The positive terms-of-trade shock amidst the fallout from Russia’s war in Ukraine has broadly benefited CEMAC, reinforcing its external position and gradual post-pandemic recovery. Regional authorities tightened monetary policy and normalized prudential regulation in 2022, while continuing to advance the reform agenda. Global inflation pressures have passed through to domestic prices, putting pressure on real incomes. Rebuilding buffers and sustaining a recovery that protects the most vulnerable will require stricter adherence to budget and reform plans consistent with IMF-supported programs and policy advice; this will ensure that part of the oil windfall is saved. Implementation of these policies in current favorable conditions is critical to strengthening resilience in the face of rising risks, including most notably to food security, debt vulnerabilities, and tightening of global financial conditions. A prudent management of the oil windfall and faster progress on deep structural and governance reforms are pivotal for laying the foundations for a more diversified, inclusive, and sustainable growth.
Keywords:
CEMAC authorities; IMF article; CEMAC country; consultation discussion; CEMAC member country; Oil prices; Inflation; Fiscal stance; Liquidity; Global