The International Monetary Fund (IMF) has lowered its growth forecasts for the Central African Republic, now expected to 1% by 2024, from 1.3% announced in April. This review follows an assessment mission conducted in September-October 2024 and highlights the major impact of the fuel crisis on the country's economy. Fuel prices, which are among the highest in the world, are stifling economic activity, further weakening a country already facing multiple challenges

“Despite progress in peacekeeping, the economic outlook in CAR remains subject to numerous challenges. Economic growth in 2024 was revised down slightly to 1.0% due to disruptions in electricity supply as well as significant delays in fuel supplies through the Oubangui River,” announced Albert Touna Mama, head of a delegation from the International Monetary Fund (IMF), at the end of a mission to the Central African Republic

A team from the International Monetary Fund (IMF), led by Albert Touna Mama, conducted discussions with the Central African authorities, from September 23 to October 03, 2024, as part of the third review of the Central African Republic (CAR) program supported by the Extended Credit Facility (ECF), indicates the IMF in a statement specifying that the discussions are continuing in the coming weeks, virtually and then in Washington on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank Group

“The still unfavorable business environment, regulatory uncertainty, persistent insecurity in some mining areas as well as fuel prices at the pump that are among the highest in the world—continue to weigh on economic activity in CAR,” the expert quoted in the statement said. Touna Mama also believes that increased financial support from the international community is more important than ever