Central African Republic

The economic recovery in the Central African Republic (CAR) was confirmed in 2010, with real gross domestic product (GDP) growth estimated at 3.4%. This positive growth came a year after the economy had suffered the full effects of the global economic and financial crisis that broke out in 2008. In 2010, the CAR also achieved the objectives set out in the 2008-10 poverty reduction strategy document (PRSP) and the year saw its economic and financial Programme negotiated with the International Monetary Fund (IMF), supported through the Extended Fund Facility (EFF) agreed upon with the IMF in December 2006. The sixth and final review of the EFF was approved by the IMF board on 25 August 2010, thus rewarding the efforts made in terms of economic and financial reform. The CAR reached the completion point of the Heavily Indebted Poor Countries (HIPC) Initiative and the Multilateral Debt Relief Initiative (MDRI).

Après une reprise progressive de la croissance économique à l'issue des conflits civils en 2004, la République centrafricaine (RCA) a subi une série de chocs internes et externes qui ont bouleversé ses perspectives de croissance. Le taux de croissance du produit intérieur brut (PIB) réel a été de 2 % en 2009 (estimation).

After a gradual economic recovery in 2004 once political peace returned, the country experienced internal and external shocks that disrupted prospects for growth. Real gross domestic product (GDP) advanced by an estimated 2% in 2009.

The 1994 Constitution of the Central African Republic guarantees equal rights to men and women in all domains of society. Due to chronic poverty and a lack of funding, the Central African Republic government admits that it has been unable to meet its obligation regarding general human rights. Moreover, local traditions that are unfavourable to women remain strong amidst the predominantly rural population.

LA RÉPUBLIQUE CENTRAFRICAINE A ÉTÉ confrontée à de longues années d’instabilité politique et de conflits internes qui se sont traduits par la fragilisation des institutions publiques, la déstructuration des infrastructures économiques et des services sociaux de base, et la forte contraction du produit intérieur brut (PIB) réel et des revenus des populations. Cependant, cette tendance s’est atténuée au cours de la période 2004-07, marquée par le retour progressif à la stabilité sociopolitique et à la croissance économique. Le taux de croissance du PIB réel est estimé à 2.6 pour cent pour 2008, soit 1.6 point de moins qu’en 2007. Ce ralentissement de la croissance est essentiellement dû aux effets combinés des chocs externes survenus au cours de l’année (flambée des prix du pétrole, crise alimentaire, dépréciation du dollar face à l’euro dont la parité avec le franc CFA est fixe, crise financière internationale, baisse de la demande mondiale et des cours des matières premières) et de la crise de l’électricité qui sévit en RCA depuis juin 2008.

FOR MANY YEARS, THE Central African Republic (CAR) has had to face political instability and internal conflicts which have weakened public institutions, undermined the economic infrastructures and basic social services, and led to a severe contraction of real Gross Domestic Product (GDP) and people’s incomes. This trend, however, was less pronounced during the 2004-07 period, which saw a gradual return to sociopolitical stability and economic growth. Real GDP growth is estimated at 2.6 per cent for 2008, or 1.6 per cent less than in 2007. This slowdown was due mainly to the combined effects of the external shocks that occurred during the year (soaring oil prices, food crisis, depreciation of the US dollar (USD) against the euro (EUR), to which the CFA franc (XAF) is pegged, the international financial crisis, and the decline in world demand for raw materials and consequent fall in their prices), as well as the electricity crisis that has prevailed in the CAR since June 2008.

Central African Republic Stock of Total External Debt (percentage of GDP) and Debt Service (percentage of exports of goods and services) appears in African Economic Outlook 2009.

Central African Republic: GDP by Sector in 2008 (percentage) appears in African Economic Outlook 2009.

Central African Republic: Real GDP Growth and Per Capita GDP (USD/PPP at current prices) appears in African Economic Outlook 2009.

Central African Republic: Public finances (percentage of GDP in current prices) appears in African Economic Outlook 2009.