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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
Nigeria: Selected Issues
International Monetary Fund. African Dept.
This Selected Issues paper presents stylized facts about food insecurity in Nigeria, investigates its drivers in a cross-country setting, and assesses the role of policies. The paper describes regional aspects of Nigeria’s food insecurity and compares the impact of coronavirus disease 2019 and the war in Ukraine on food security in Nigeria and other countries. It also provides an overview of agricultural production and consumption in Nigeria. The paper investigates the drivers of food security using an empirical cross-country framework including demand, supply, and price factors, and offers thoughts on policies to improve agricultural yields and production. The important role of inputs is evident in the policy experience of comparator countries. Nigeria has achieved a substantial increase in agricultural production associated with its policies but some have been less successful. Import dependency for key staples has not fallen and the cost of these agricultural products remains driven by international prices. Further, central bank credit to the agricultural sector has not succeeded in increasing production beyond the stimulus of high rainfall and high food prices.
Keywords:
EIU FOOD INSECURITY index; World wheat price inflation; tax revenue mobilization; food supply; fuel subsidy reform; food price inflation; Mobile banking; Financial inclusion; Food security; Excises; Global; Sub-Saharan Africa