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Fields	World Records	World Dictionary	Geographic Names	Fields History
Chiefs of State	Intl. Organizations	Intl. Environmental Agree.	Other References	Notes and Definitions

Central African Republic
Republique Centrafricaine

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Translation

Economy	Central African Republic
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Economy - overview:	Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with about 60% of the population living in outlying areas. The agricultural sector generates more than half of GDP. Timber has accounted for about 16% of export earnings and the diamond industry, for 40%. Important constraints to economic development include the CAR's landlocked position, a poor transportation system, a largely unskilled work force, and a legacy of misdirected macroeconomic policies. Factional fighting between the government and its opponents remains a drag on economic revitalization. Since 2009 the IMF has worked closely with the government to institute reforms that have resulted in some improvement in budget transparency, but other problems remain. The government's additional spending in the run-up to the election in 2011 worsened CAR's fiscal situation. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs. CAR currently lacks an IMF program.

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Economy	Central African Republic



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This page was last updated on 4 February, 2012

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