Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update

Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update

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 burd...

Full description

Bibliographic Details
Main Authors: International Development Association, International Monetary Fund
Format: Report
Language:English
Published: World Bank, Washington, DC 2018
Subjects:
PUBLIC SECTOR DEBT
PUBLIC DEBT
CENTRAL GOVERNMENT DEBT
GRACE AND MATURITY PERIOD
EXTERNAL DEBT
DEBT SUSTAINABILITY
Online Access:http://documents.worldbank.org/curated/en/628021537332497466/Central-African-Republic-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update
http://hdl.handle.net/10986/30524
id okr-10986-30524
recordtype oai_dc
spelling okr-10986-305242021-09-16T11:39:06Z Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update International Development Association International Monetary Fund PUBLIC SECTOR DEBT PUBLIC DEBT CENTRAL GOVERNMENT DEBT GRACE AND MATURITY PERIOD EXTERNAL DEBT DEBT SUSTAINABILITY 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. 2018-10-07T04:12:03Z 2018-10-07T04:12:03Z 2018-06-26 Report http://documents.worldbank.org/curated/en/628021537332497466/Central-African-Republic-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update http://hdl.handle.net/10986/30524 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Debt and Creditworthiness Study Africa Central African Republic
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic PUBLIC SECTOR DEBT
PUBLIC DEBT
CENTRAL GOVERNMENT DEBT
GRACE AND MATURITY PERIOD
EXTERNAL DEBT
DEBT SUSTAINABILITY
spellingShingle PUBLIC SECTOR DEBT
PUBLIC DEBT
CENTRAL GOVERNMENT DEBT
GRACE AND MATURITY PERIOD
EXTERNAL DEBT
DEBT SUSTAINABILITY
International Development Association
International Monetary Fund
Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
geographic_facet Africa
Central African Republic
description 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.
format Report
author International Development Association
International Monetary Fund
author_facet International Development Association
International Monetary Fund
author_sort International Development Association
title Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
title_short Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
title_full Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
title_fullStr Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
title_full_unstemmed Central African Republic : Joint Bank-Fund Debt Sustainability Analysis, 2018 Update
title_sort central african republic : joint bank-fund debt sustainability analysis, 2018 update
publisher World Bank, Washington, DC
publishDate 2018
url http://documents.worldbank.org/curated/en/628021537332497466/Central-African-Republic-Joint-Bank-Fund-Debt-Sustainability-Analysis-2018-Update
http://hdl.handle.net/10986/30524
_version_ 1764472249604112384

Similar Items