Washington, DC: An International Monetary Fund (IMF) team, led by Mr. Albert Touna Mama, visited Bangui from January 9 to 16, 2025, to continue discussions under the country's program of reforms supported by the Extended Credit Facility (ECF), including public financial management, revenue administration, fuel market reforms, and governance.
At the end of the visit, Mr. Touna Mama issued the following statement:
"The mission made progress on measures needed to improve the fiscal performance going forward and accelerate the reforms under the Central African Republic's (CAR) ECF-supported program. We commend the authorities' recent initiatives to limit non-priority spending.
"The mission encouraged a steadfast implementation of PFM reforms, especially with the systematic use of the integrated financial information system at the General Directorate of the Treasury and sectoral ministries, including for extraordinary expenditures. Further, efforts should also focus on revenue administration, particularly expediting remaining steps toward further increasing taxpayer registration, filling, and payment through the new electronic declaration system at the General Directorate of Taxes and Domains (E-tax).
"A sustainable increase in revenue mobilization over the medium term will require a greater contribution from all tax bases, including from fuel sales. An audit of fuel procurement costs will go a long way in supporting the reform of the fuel price structures with the view of improving revenue collection and lowering pump prices.
"Efforts to raise highly concessional financing would help alleviate debt vulnerabilities and reduce crowding out of social spending by debt servicing costs.
"The mission wishes to thank the CAR authorities for their warm welcome and for the open and candid atmosphere in which the discussions were held.
The IMF delegation met with President Touadéra, Prime Minister Moloua, President of the National Assembly Sarandji, Minister of Finance and Budget Ndoba, BEAC National Director Chaïbou and other senior officials, as well as representatives of the development partner community.
