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Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- International Development Association.
- Series:
- Debt and Creditworthiness Study.
- World Bank e-Library.
- Debt and Creditworthiness Study
- Language:
- English
- Subjects (All):
- Debt Markets.
- External Debt.
- Finance And Financial Sector Development.
- Macroeconomic Management.
- Macroeconomics And Economic Growth.
- Public Debt.
- Public Sector Development.
- Local Subjects:
- Debt Markets.
- External Debt.
- Finance And Financial Sector Development.
- Macroeconomic Management.
- Macroeconomics And Economic Growth.
- Public Debt.
- Public Sector Development.
- Other Title:
- Central African Republic
- Place of Publication:
- Washington, D.C. : The World Bank, 2018.
- System Details:
- data file
- Summary:
- Central African Republic (C.A.R.) continues to be assessed at high risk of external debt distress. This rating is unchanged from the previous analysis and consistent with the staff report of December 2017. Under the baseline scenario, one debt burden indicator breaches its threshold. And stress tests show that both external and total public debt sustainability is vulnerable to slower gross domestic product (GDP), export, and revenue growth. For total public and publicly guaranteed (PPG) debt (external plus domestic), the debt-to-GDP indicator remains below its prudent benchmark. However, the existence of large arrears to suppliers and unpaid public-sector wages in the domestic debt stock justifies the assessment of a heightened overall risk of debt distress. Contingent liabilities can further exacerbate vulnerability concerns. To safeguard debt sustainability, the government's investment program requires grant financing, with highly concessional debt financing to be considered only in exceptional cases.
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