Central African Republic - Grant to assist in the financing of the Second Phase of the Economic Reform Support Program (ERSP-II)

The present intervention on the second phase of the Economic Reform Support Programme (PARE-II) is a balance of payments support to the Central African Republic (CAR). It's an extension of PARE I and proposes to reinforce his achievements. PARE II aims to contribute to the achievement of the objectives of the CAR's Poverty Reduction Strategy Paper (PRSP) in terms of growth and poverty reduction. In addition, the reforms supported by PARE II will contribute to consolidate growth, mitigate inflationary pressures, improve the mobilization of the State's own resources, and strengthen the deleveraging of CAR. In addition, the program is expected to help the country cope with the effects of the global food crisis. It has two components, namely: (i) contribute to the improvement of public finance management; and (ii) consolidate economic governance in the public sector.