Publication: Central African Republic - Joint World Bank-IMF Debt Sustainability Analysis
dc.contributor.author | World Bank | |
dc.contributor.author | International Monetary Fund | |
dc.date.accessioned | 2019-10-18T14:12:43Z | |
dc.date.available | 2019-10-18T14:12:43Z | |
dc.date.issued | 2019-07 | |
dc.description.abstract | The Central African Republic (C.A.R.) remains at high risk of external debt distress and overall high risk of debt distress under the revised Debt Sustainability Framework (DSF), unchanged from the 2018 DSA. Solvency indicators (the present values of the external public and publicly guaranteed debt-to-GDP and debt-to-exports ratios) remain below their relevant thresholds in the baseline scenario. However, liquidity indicators (debt service-to-exports and debt service-to-revenue ratios) breach their thresholds in the baseline scenario. Further considerations support the high-risk assessment: the debt indicators are sensitive to standard stress tests; macroeconomic projections are highly uncertain in a volatile security environment; and sizeable contingent liabilities, notably related to the large stock of unaudited potential domestic arrears and the limited financial information available on state-owned enterprises, could materialize. C.A.R.’s debt sustainability is also sensitive to a deterioration of the financing mix. A tailored scenario in which grant financing (of 2 percent of GDP) is replaced by concessional external debt-financing from 2021 onwards would worsen debt sustainability considerably. This shows that the government’s investment program requires grant financing, with concessional debt financing to be considered in exceptional cases. | en |
dc.identifier | http://documents.worldbank.org/curated/en/756551570788378574/Central-African-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-July-2019 | |
dc.identifier.doi | 10.1596/32581 | |
dc.identifier.uri | https://hdl.handle.net/10986/32581 | |
dc.language | English | |
dc.publisher | World Bank, Washington, DC | |
dc.rights | CC BY 3.0 IGO | |
dc.rights.holder | World Bank | |
dc.rights.uri | http://creativecommons.org/licenses/by/3.0/igo | |
dc.subject | DEBT DISTRESS | |
dc.subject | DEBT SERVICE BURDEN | |
dc.subject | CONTINGENT LIABILITY | |
dc.subject | PUBLIC SECTOR DEBT | |
dc.subject | PUBLIC AND PUBLICLY GUARANTEED DEBT | |
dc.subject | EXTERNAL DEBT | |
dc.subject | DEBT RELIEF | |
dc.title | Central African Republic - Joint World Bank-IMF Debt Sustainability Analysis | en |
dc.type | Report | en |
dc.type | Rapport | fr |
dc.type | Informe | es |
dspace.entity.type | Publication | |
okr.crossref.title | Central African Republic - Joint World Bank-IMF Debt Sustainability Analysis | |
okr.date.disclosure | 2019-10-11 | |
okr.doctype | Economic & Sector Work | |
okr.doctype | Economic & Sector Work::Debt and Creditworthiness Study | |
okr.docurl | http://documents.worldbank.org/curated/en/756551570788378574/Central-African-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-July-2019 | |
okr.guid | 756551570788378574 | |
okr.identifier.doi | 10.1596/32581 | |
okr.identifier.externaldocumentum | 090224b0871cc181_1_0 | |
okr.identifier.internaldocumentum | 31472691 | |
okr.identifier.report | 142553 | |
okr.imported | true | en |
okr.language.supported | en | |
okr.pdfurl | http://documents.worldbank.org/curated/en/756551570788378574/pdf/Central-African-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-July-2019.pdf | en |
okr.region.administrative | Africa | |
okr.region.country | Central African Republic | |
okr.topic | Public Sector Development::Public Sector Economics | |
okr.topic | Finance and Financial Sector Development::Debt Markets | |
okr.topic | Finance and Financial Sector Development::Debt Relief and HIPC | |
okr.topic | Finance and Financial Sector Development::Strategic Debt Management | |
okr.topic | International Economics and Trade::External Debt | |
okr.unit | EFI-MTI-Global Macro and Debt (EMFMD) |
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