December 20, 2019
1. The authorities of Central African Republic (C.A.R.) would like to thank the Executive Board, Management and Staff for their constant support which has been instrumental in implementing the 2016–19 Extended Credit Facility (ECF) arrangement. This program has supported the authorities’ efforts to restore macroeconomic stability and advance structural reforms. Program performance has been broadly satisfactory amid a challenging security and humanitarian environment. Real GDP growth has continued to expand throughout the program period, fiscal and external positions have strengthened, and public financial management has improved.
2. While progress is still underway, the country continues to cope with daunting challenges stemming notably from its fragility situation. A full restoration of state authority, full return to peace and capacity development remain key priorities. The authorities will leverage the peace dividends from the country’s Political Agreement for Peace and Reconciliation (Accord politique pour la paix et la réconciliation, APPR) to step up the implementation of their refocused and extended Recovery and Peacebuilding Plan (Plan de relèvement et de consolidation de la paix, RCPCA).
3. To address these challenges while reinforcing macroeconomic stability, enhancing administrative capacities and laying solid foundations for stronger, sustained and inclusive growth, the authorities are requesting a new three-year ECF arrangement. The new program should also help catalyze highly needed support from other external partners.