Le Executive Board of the International Monetary Fund (IMF) released a note on Wednesday that it approved a disbursement of 25 million US dollars to the government Central African Republic under the Extended Credit Facility (ECF)

The IMF Executive Board announced in its briefing note that it had already completed the second review of the agreement in favor of the Central African Republic (CAR) under the FEC. This allows for the immediate disbursement of 18.60 million SDR (approximately 25 million US dollars) to help CAR meet its persistent balance-of-payments financing needs and to continue its priority spending on basic public services. According to the fund, “the economy is expected to grow by 1.4% in 2024, up from the 0.7% growth recorded in 2023, while inflation is expected to gradually decrease over the following years. These projections are based on the acceleration of fuel market reforms.”