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832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Conduct quarterly analysis of fiscal risk assessment using the IMF SOEs health check tool. | 1 | 09/30/2022 | M | Improve fiscal reporting and educe fiscal risks | 1 | 1 | 2022-09-30 | R0 | R1 | SB_24.00_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Conduct quarterly analysis of fiscal risk assessment using the IMF SOEs health check tool. | 1 | 12/31/2022 | SB | N/A | 1 | 1 | 2022-12-31 | R1 | N/A | SB_24.00_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Introduce a quarterly monitoring report on SOEs budget execution. | 2 | 09/30/2022 | M | Improve fiscal reporting and educe fiscal risks | 1 | 2 | 2022-09-30 | R0 | R1 | SB_24.00_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Introduce a quarterly monitoring report on SOEs budget execution. | 2 | 12/31/2022 | SB | N/A | 1 | 2 | 2022-12-31 | R1 | N/A | SB_24.00_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Improve the annual SOEs report to include comparison of execution to initial budget projection, evaluation of performance against medium term plan, data on government relations (transfers and liabilities). | 3 | 06/30/2023 | SB | Improve fiscal reporting and educe fiscal risks | 1 | 3 | 2023-06-30 | R0 | N/A | SB_24.00_3 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Construct a compliance risk management system to allow for the optimization of tax revenue collection by end-december 2023 | 4 | 12/31/2023 | SB | Support fiscal and debt sustainability | 1 | 4 | 2023-12-31 | R1 | N/A | SB_24.00_4 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Submit to parliament the budget for 2024 that is in line with the primary balance commitment under the program. | 5 | 12/31/2023 | SB | Support fiscal and debt sustainability | 1 | 5 | 2023-12-31 | R1 | N/A | SB_24.00_5 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 25 | 6. Financial sector | Carry out a comprenhensive study of loan losses and provisions at the expiration of the credit moratorium. | 1 | 12/31/2022 | SB | Strengthen financial stability | 1 | 1 | 2022-12-31 | R0 | N/A | SB_25.00_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 25 | 6. Financial sector | Develop a common framework for the resolution of crisis related NPLs. | 2 | 12/31/2022 | SB | Strengthen financial stability | 1 | 2 | 2022-12-31 | R0 | N/A | SB_25.00_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Submit draft amendments to the BCV Law, in line with IMF recommendations, to the Ministry of Finance with a view to (i) establishing an independent oversight process that is separate from executive management, (ii) strengthening the BCV’s personal and financial autonomy, and (iii) enhancing transparency and accountability mechanisms. | 1 | 12/31/2022 | SB | Strengthen BCV institutional framework | 1 | 1 | 2022-12-31 | R0 | N/A | SB_25.10_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-01-09 | P1 | R1 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Increase the frequency of stress testing to twice per year (June 2023 and December 2023) to ensure the effectiveness of supervisory process and revamp the stress testing methodology to include detailed banking data and cyber security risk assessment. | 2 | 12/31/2023 | SB | Strengthen financial stability | 1 | 2 | 2023-12-31 | R1 | N/A | SB_25.10_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 20.1 | 1.1. Revenue measures, excluding trade policy | Invoice electronically at least 50 percent of tax payers for VAT | 1 | 12/31/2022 | M | Improve revenue collection | 2 | 1 | 2022-12-31 | R0 | R2 | SB_20.10_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Compile and publish historical series of government financial statistics for general government. | 1 | 03/30/2023 | M | Improve fiscal transparency | 2 | 1 | 2023-03-30 | R0 | R2 | SB_20.70_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Publish annual budget execution reports for the general government. | 2 | 09/30/2023 | SB | Improve fiscal transparency | 2 | 2 | 2023-09-30 | R0 | N/A | SB_20.70_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit to parliament the budget for 2023 that is in line with commitments under the program. | 1 | 12/31/2022 | M | Support fiscal and debt sustainability | 2 | 1 | 2022-12-31 | R0 | R2 | SB_20.80_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Preannounce a schedule for TIM and TRM auctions. | 1 | 06/30/2022 | M | Support the development of the money market | 2 | 1 | 2022-06-30 | R0 | R1 | SB_21.10_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 21.1 | 2.1. Central bank operations and reforms | Introduce a composite indicators of economic activity. | 2 | 06/30/2023 | SB | Support monetary policy analysis | 2 | 2 | 2023-06-30 | R0 | N/A | SB_21.10_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Conduct quarterly analysis of fiscal risk assessment using the IMF SOEs health check tool. | 1 | 09/30/2022 | M | Improve fiscal reporting and educe fiscal risks | 2 | 1 | 2022-09-30 | R0 | R1 | SB_24.00_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Conduct quarterly analysis of fiscal risk assessment using the IMF SOEs health check tool. | 1 | 12/31/2022 | SB | N/A | 2 | 1 | 2022-12-31 | R1 | N/A | SB_24.00_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Introduce a quarterly monitoring report on SOEs budget execution. | 2 | 09/30/2022 | M | Improve fiscal reporting and educe fiscal risks | 2 | 2 | 2022-09-30 | R0 | R1 | SB_24.00_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Introduce a quarterly monitoring report on SOEs budget execution. | 2 | 12/31/2022 | SB | N/A | 2 | 2 | 2022-12-31 | R1 | N/A | SB_24.00_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Improve the annual SOEs report to include comparison of execution to initial budget projection, evaluation of performance against medium term plan, data on government relations (transfers and liabilities). | 3 | 07/31/2023 | SB | Improve fiscal reporting and educe fiscal risks | 2 | 3 | 2023-07-31 | R0 | N/A | SB_24.00_3 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Construct a compliance risk management system to allow for the optimization of tax revenue collection by end-december 2023 | 4 | 12/31/2023 | SB | Support fiscal and debt sustainability | 2 | 4 | 2023-12-31 | R1 | N/A | SB_24.00_4 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Submit to parliament the budget for 2024 that is in line with the primary balance commitment under the program. | 5 | 12/31/2023 | SB | Support fiscal and debt sustainability | 2 | 5 | 2023-12-31 | R1 | N/A | SB_24.00_5 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Develop and publish an action plan to reduce tax expenditures, including published estimates of all annual tax expenditures in the budget to improve transparency, and undertake phased implementation of the ECOWAS tariff, to increase revenue by 1 percent of GDP | 6 | 09/30/2024 | SB | Support fiscal and debt sustainability | 2 | 6 | 2024-09-30 | R2 | N/A | SB_24.00_6 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Implement the action plan to reduce expenditures during in the 2025 budget | 7 | 12/31/2024 | SB | Support fiscal and debt sustainability | 2 | 7 | 2024-12-31 | R2 | N/A | SB_24.00_7 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 24 | 5. Public enterprise reform and pricing (non financial sector) | Based on the July 2023 structural benchmark, publish in the annual report on public companies the targets agreed between the Ministry of Finance and Business Development and the six largest public companies , on improving financial performance and reducing the need for central government support. | 8 | 06/30/2024 | SB | Improve fiscal reporting and educe fiscal risks | 2 | 8 | 2024-06-30 | R2 | N/A | SB_24.00_8 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 25 | 6. Financial sector | Carry out a comprenhensive study of loan losses and provisions at the expiration of the credit moratorium. | 1 | 12/31/2022 | M | Strengthen financial stability | 2 | 1 | 2022-12-31 | R0 | R2 | SB_25.00_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 25 | 6. Financial sector | Develop a common framework for the resolution of crisis related NPLs. | 2 | 12/31/2022 | M | Strengthen financial stability | 2 | 2 | 2022-12-31 | R0 | R2 | SB_25.00_2 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Submit draft amendments to the BCV Law, in line with IMF recommendations, to the Ministry of Finance with a view to (i) establishing an independent oversight process that is separate from executive management, (ii) strengthening the BCV’s personal and financial autonomy, and (iii) enhancing transparency and accountability mechanisms. | 1 | 12/31/2022 | M | Strengthen BCV institutional framework | 2 | 1 | 2022-12-31 | R0 | R2 | SB_25.10_1 | N/A |
832 | CAPE VERDE | 624 | ECF | 2022-06-15 | 2,022 | 2025-06-14 | 2,025 | N/A | N/A | N/A | 2023-06-22 | P1 | R2 | L | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Increase the frequency of stress testing to twice per year (June 2023 and December 2023) to ensure the effectiveness of supervisory process and revamp the stress testing methodology to include detailed banking data and cyber security risk assessment. | 2 | 12/31/2023 | SB | Strengthen financial stability | 2 | 2 | 2023-12-31 | R1 | N/A | SB_25.10_2 | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | PA | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004. | 1 | Program Prior Action | M | N/A | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SB | 25 | 6. Financial sector | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | Continuous | SB | N/A | 0 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Reform commercial laws and civil procedures relating to debt collection and bankruptcy in line with the recommendations in the regional Financial Stability Assessment Program completed in June 2006. | 1 | 12/31/2007 | SB | N/A | 0 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.2 | 1.2. Revenue administration, including customs | Complete the external audit of the operations of the one-stop customs window in Douala (Guichet Unique). | 1 | 02/28/2007 | PC | N/A | 0 | 1 | 2007-02-28 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.2 | 1.2. Revenue administration, including customs | Restructure (in consultation with Fund staff) the customs administration activities under a single entity, which will report to the Minister of Finance. | 2 | 03/31/2007 | PC | N/A | 0 | 2 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.2 | 1.2. Revenue administration, including customs | Reduce the stock tax arrears by at least CFAF 1 billion, net of uncollectible tax arrears. | 3 | 12/31/2007 | PC | N/A | 0 | 3 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Complete the external audit for the validation of the domestic payments arrears, which accrued during the period 1998-2004. | 1 | 06/30/2007 | PC | N/A | 0 | 1 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Eliminate the stock of treasury checks issued in 2005-06 and eliminate the issuance of non-cash backed treasury checks. The government will publicly announce that such treasury checks will no longer be valid after end-September 2007. | 2 | 06/30/2007 | PC | N/A | 0 | 2 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Implement a formal procedure to audit and report on a quarterly basis all sources of revenue (tax and non-tax, including those for fees, licenses, and permits in the natural resource sector) accruing to the State. The audits should be carried out by the Inspector General of Finance who will be given access to all relevant information to conduct the audits, and submitted to the Court of Accounts for verification and publication, no later than 2 months after the end of each quarter. The first of such audits should be published by May 2007. | 1 | 03/31/2007 | PC | N/A | 0 | 1 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Begin an external audit of all the sources of government revenue (collected through ministries and agencies) during the period July-2005 to end-December 2006, to help ensure that all revenue has been dutifully reported to the state treasury, and to help clarify where reporting can be strengthened. | 2 | 09/30/2007 | PC | N/A | 0 | 2 | 2007-09-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2006-12-22 | P1 | R0 | E | SPC | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Implement a new petroleum product pricing formula with parameters set to ensure full recovery of all costs, distribution margins, and taxes, and that avoids the need for further budget subsidies. | 1 | 12/31/2007 | PC | N/A | 0 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | PA | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004. | 1 | Program Prior Action | M | N/A | 1 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SB | 25 | 6. Financial sector | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | 06/30/2007 | M | Met for P1R1. | 1 | 1 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SB | 25 | 6. Financial sector | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | Continuous | SB | At P1R1, as the recapitalization of the troubled bank was completed by a foreign investor, this benchmark was no longer relevant, and removed from the program. | 1 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Reform commercial laws and civil procedures relating to debt collection and bankruptcy in line with the recommendations in the regional Financial Stability Assessment Program completed in June 2006. | 1 | 12/31/2007 | SB | N/A | 1 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Reduce the stock tax arrears by at least CFAF 1 billion, net of uncollectible tax arrears. | 1 | 12/31/2007 | PC | N/A | 1 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Complete the external audit of the operations of the one-stop customs window in Douala (Guichet Unique). | 2 | 02/28/2007 | W | At P1R1, implemented with a slight delay caused by donor coordination problems, which led the government to finance the audit itself to avoid another slippage. | 1 | 2 | 2007-02-28 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Restructure (in consultation with Fund staff) the customs administration activities under a single entity, which will report to the Minister of Finance. | 3 | 03/31/2007 | M | N/A | 1 | 3 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Eliminate the stock of treasury checks issued in 2005-06 and eliminate the issuance of non-cash backed treasury checks. The government will publicly announce that such treasury checks will no longer be valid after end-September 2007. | 1 | 06/30/2007 | M | N/A | 1 | 1 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Complete the external audit for the validation of the domestic payments arrears, which accrued during the period 1998-2004. | 2 | 06/30/2007 | W | At P1R1, met with a slight delay due to limited understanding of some donor procurement procedures. | 1 | 2 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Implement a formal procedure to audit and report on a quarterly basis all sources of revenue (tax and non-tax, including those for fees, licenses, and permits in the natural resource sector) accruing to the State. The audits should be carried out by the Inspector General of Finance who will be given access to all relevant information to conduct the audits, and submitted to the Court of Accounts for verification and publication, no later than 2 months after the end of each quarter. The first of such audits should be published by May 2007. | 1 | 03/31/2007 | M | N/A | 1 | 1 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Begin an external audit of all the sources of government revenue (collected through ministries and agencies) during the period July-2005 to end-December 2006, to help ensure that all revenue has been dutifully reported to the state treasury, and to help clarify where reporting can be strengthened. | 2 | 09/30/2007 | PC | N/A | 1 | 2 | 2007-09-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2007-09-28 | P1 | R1 | BLANK | SPC | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Implement a new petroleum product pricing formula with parameters set to ensure full recovery of all costs, distribution margins, and taxes, and that avoids the need for further budget subsidies. | 1 | 12/31/2007 | PC | N/A | 1 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | PA | 20.2 | 1.2. Revenue administration, including customs | Revoke contract with Unitec Benin and staff the "Guichet Unique" in Douala with customs personnel. | 1 | Second Review Prior action | M | P1R2 macroeconomic rationale: Enhance revenue generation potential by removing ineffective and expensive operator. | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | PA | 20.4 | 1.4. Combined expenditure and revenue measures | Implement an automatic petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT at the regular rate for gasoline and diesel, and a specific excise by product. The formula includes a timetable for petroleum taxation. | 1 | Second Review Prior action | M | At P1R2, this former spc was waived, upgraded to a pa, and implemented June 1, 2008. Macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes. | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | PA | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004. | 1 | Program Prior Action | M | N/A | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Use turnover as the sole criterion for taxpayer classification with a turnover of CFAF 50 million as the minimum threshold for large taxpayers, VAT registration, and the standard tax system. | 1 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Enhance revenue generation potential by focusing on large taxpayers and streamline the structure of VAT, the largest revenue source. | 2 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Increase the number of audits in 2008 to cover (i) at least 30 percent of large and medium-sized taxpayers per year; (ii) all stop-filers; and (iii) all filers with VAT credit claims or zero balance returns. | 2 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Enhance revenue generation potential by reducing scope for tax evasion. | 2 | 2 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 20.5 | 1.5. Debt Management | Fully computerize the debt management unit and enable it to provide debt service projections for various scenarios. | 1 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Increase reliability of debt forecasts and develop ability to take early corrective actions to maintain medium-term debt sustainability. | 2 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Set up a liquidity committee including BEAC members to review monthly, weekly, and daily cash flow and expenditure commitment forecasts and assess liquidity needs. | 1 | 06/30/2008 | SB | P1R2 macroeconomic rationale: Reduce financing costs for the government and align government commitments with available resources to avoid arrears. | 2 | 1 | 2008-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a treasury single account | 2 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Reduce financing costs for the government and increase transparency of government operations. | 2 | 2 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 25 | 6. Financial sector | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | 06/30/2007 | M | Met for P1R1. | 2 | 1 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 25 | 6. Financial sector | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | Continuous | CAN | At P1R1, as the recapitalization of the troubled bank was completed by a foreign investor, this benchmark was no longer relevant, and removed from the program. Although this sb appears in EBS/08/63, for the second review, desk reported that "it was a mistake, and the benchmark should have been removed from the 2nd review paper." | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Reform commercial laws and civil procedures relating to debt collection and bankruptcy in line with the recommendations in the regional Financial Stability Assessment Program completed in June 2006. | 1 | 12/31/2007 | NM | At P1R2, not met, as was delayed by capacity limitations. Will be implemented as part of the authorities' agenda to apply the OHADA law. | 2 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Increase tariffs for water by 5 percent and for electricity by 5 percent for the upper tranches of consumption | 1 | 06/30/2008 | SB | P1R2 macroeconomic rationale: Reduce quasi-fiscal losses of state-owned enterprises that are critical for CAR's growth, and protect the budget. | 2 | 1 | 2008-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Reduce the stock tax arrears by at least CFAF 1 billion, net of uncollectible tax arrears. | 1 | 12/31/2007 | W | At P1R2, reduction of tax arrears was not met. Several state-owned enterprises (SOEs) ran large quasi-fiscal deficits, as a result of which the SOEs were unable to pay taxes. | 2 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Complete the external audit of the operations of the one-stop customs window in Douala (Guichet Unique). | 2 | 02/28/2007 | W | At P1R1, implemented with a slight delay caused by donor coordination problems, which led the government to finance the audit itself to avoid another slippage. | 2 | 2 | 2007-02-28 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Restructure (in consultation with Fund staff) the customs administration activities under a single entity, which will report to the Minister of Finance. | 3 | 03/31/2007 | M | N/A | 2 | 3 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Set up and publish a plan to repay domestic arrears | 1 | 09/30/2008 | PC | P1R2 macroeconomic rationale: Re-establish credibility of the government with respect to the public; reduce debt overhang. | 2 | 1 | 2008-09-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Eliminate the stock of treasury checks issued in 2005-06 and eliminate the issuance of non-cash backed treasury checks. The government will publicly announce that such treasury checks will no longer be valid after end-September 2007. | 2 | 06/30/2007 | M | N/A | 2 | 2 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Complete the external audit for the validation of the domestic payments arrears, which accrued during the period 1998-2004. | 3 | 06/30/2007 | W | At P1R1, met with a slight delay due to limited understanding of some donor procurement procedures. | 2 | 3 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Implement a formal procedure to audit and report on a quarterly basis all sources of revenue (tax and non-tax, including those for fees, licenses, and permits in the natural resource sector) accruing to the State. The audits should be carried out by the Inspector General of Finance who will be given access to all relevant information to conduct the audits, and submitted to the Court of Accounts for verification and publication, no later than 2 months after the end of each quarter. The first of such audits should be published by May 2007. | 1 | 03/31/2007 | M | N/A | 2 | 1 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Begin an external audit of all the sources of government revenue (collected through ministries and agencies) during the period July-2005 to end-December 2006, to help ensure that all revenue has been dutifully reported to the state treasury, and to help clarify where reporting can be strengthened. | 2 | 09/30/2007 | M | N/A | 2 | 2 | 2007-09-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Continue applying automatic quarterly petroleum product pricing formula. | 1 | 12/31/2007 | WMOD-PA | At P1R2, price adjustment formula to ensure recovery of all costs and taxes was delayed while the authorities considered measures to mitigate the social impact. Upgraded to a pa for the second review, and implemented June 1, 2008. At P1R2, descriptor changed from "Implement a new petroleum product pricing formula with parameters set to ensure full recovery of all costs, distribution margins, and taxes, and that avoids the need for further budget subsidies" to current spc, and retaining "continuous" test date. | 2 | 1 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-06-18 | P1 | R2 | BLANK | SPC | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Continue applying automatic quarterly petroleum product pricing formula. | 1 | Continuous | PC | P1R2 macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes. | 2 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | PA | 20.2 | 1.2. Revenue administration, including customs | Revoke contract with Unitec Benin and staff the "Guichet Unique" in Douala with customs personnel. | 1 | Second Review Prior action | M | P1R2 macroeconomic rationale: Enhance revenue generation potential by removing ineffective and expensive operator. | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | PA | 20.4 | 1.4. Combined expenditure and revenue measures | Implement an automatic petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT at the regular rate for gasoline and diesel, and a specific excise by product. The formula includes a timetable for petroleum taxation. | 1 | Second Review Prior action | M | At P1R2, this former spc was waived, upgraded to a pa, and implemented June 1, 2008. Macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes. | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | PA | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004. | 1 | Program Prior Action | M | N/A | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | PA | 20.8 | 1.8. Budget preparation (e.g., submission or approval) | Submit to parliament a draft budget for 2009 in line with the program's macroeconomic parameters. Budget to include previously extrabudgetary revenues, full provision of government consumption of utility services, reversal of VAT reductions for cement and galvanized sheets, full deductibility of VAT payments; and elimination of VAT withholding. | 1 | Third Review Prior action | M | R3 macroeconomic rationale: maintain macroeconomic stability and improve transparency and usefulness of the budget as a tool for macroeconomic management. | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Use turnover as the sole criterion for taxpayer classification with a turnover of CFAF 30 million as the minimum threshold for large taxpayers, VAT registration, and the standard tax system. | 1 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Enhance revenue generation potential by focusing on large taxpayers and streamline the structure of VAT, the largest revenue source. At R3, upon advice by a recent AFRITAC TA mission, the turnover threshold was changed to CFAF 30 million (from 50 million) to ensure a sufficiently large number of taxpayers for the LTO. | 3 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Increase the number of audits in 2008 to cover (i) at least 30 percent of large and medium-sized taxpayers per year; (ii) all stop-filers; and (iii) all filers with VAT credit claims or zero balance returns. | 2 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Enhance revenue generation potential by reducing scope for tax evasion. | 3 | 2 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.2 | 1.2. Revenue administration, including customs | Interconnect the tax administration's SYSTEMIF and customs administration's ASYCUDA++ computer systems. | 3 | 06/30/2009 | SB | R3 macroeconomic rationale: Enhance revenue generation potential by reducing the scope for tax evasion. | 3 | 3 | 2009-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.5 | 1.5. Debt Management | Revise the 1988 law and decree on government guarantees, to strengthen the authorities' legal framework for issuing government guarantees by requiring that the recipient pays a fee for any guarantee. Clarify that all domestic and external guarantees need to be signed by the Minister of Finance and recorded in the debt statistics. | 1 | 06/30/2009 | SB | R3 macroeconomic rationale: Limit contingent liabilities for the budget and provide better incentives for public or private enterprises. | 3 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.5 | 1.5. Debt Management | Fully computerize the debt management unit and enable it to provide debt service projections for various scenarios. | 3 | 12/31/2008 | SB | P1R2 macroeconomic rationale: Increase reliability of debt forecasts and develop ability to take early corrective actions to maintain medium-term debt sustainability. | 3 | 3 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a treasury single account | 1 | 12/31/2008 | MOD-DATE | P1R2 macroeconomic rationale: Reduce financing costs for the government and increase transparency of government operations. At R3, rescheduled to end-June 2009 due to additional time needed for preparation. | 3 | 1 | 2008-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Implement a treasury single account | 1 | 06/30/2009 | SB | N/A | 3 | 1 | 2009-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 20.6 | 1.6. Expenditure auditing, accounting, and financial controls | Set up a liquidity committee including BEAC members to review monthly, weekly, and daily cash flow and expenditure commitment forecasts and assess liquidity needs. | 2 | 06/30/2008 | MD | P1R2 macroeconomic rationale: Reduce financing costs for the government and align government commitments with available resources to avoid arrears. | 3 | 2 | 2008-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 25.1 | 6.1. Financial sector legal reforms, regulation, and supervision | Revise conventions with commercial banks to ensure that they no longer have control over government money. Thus, all government receipts will be deposited in teh main treasury account at the central bank (BEAC). | 2 | 06/30/2009 | SB | R3 macroeconomic rationale: Re-establish government control over its finaces and increase the transparency of government operations. | 3 | 2 | 2009-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | 06/30/2007 | M | Met for P1R1. | 3 | 1 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 25.2 | 6.2. Restructuring and privatization of financial institutions | The government will refrain from providing resources to recapitalize the troubled commercial bank. | 1 | Continuous | CAN | At P1R1, as the recapitalization of the troubled bank was completed by a foreign investor, this benchmark was no longer relevant, and removed from the program. Although this sb appears in EBS/08/63, for the second review, desk reported that "it was a mistake, and the benchmark should have been removed from the 2nd review paper." | 3 | 1 | 2023-09-23 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Increase tariffs for water by 5 percent and for electricity by 5 percent for the upper tranches of consumption | 1 | 06/30/2008 | NM | P1R2 macroeconomic rationale: Reduce quasi-fiscal losses of state-owned enterprises that are critical for CAR's growth, and protect the budget. | 3 | 1 | 2008-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SB | 30.1 | 11.1. Private sector legal and regulatory environment reform (non financial sector) | Reform commercial laws and civil procedures relating to debt collection and bankruptcy in line with the recommendations in the regional Financial Stability Assessment Program completed in June 2006. | 2 | 12/31/2007 | NM | At P1R2, not met, as was delayed by capacity limitations. Will be implemented as part of the authorities' agenda to apply the OHADA law. | 3 | 2 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Reduce the stock tax arrears by at least CFAF 1 billion, net of uncollectible tax arrears. | 2 | 12/31/2007 | W | At P1R2, reduction of tax arrears was not met. Several state-owned enterprises (SOEs) ran large quasi-fiscal deficits, as a result of which the SOEs were unable to pay taxes. | 3 | 2 | 2007-12-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Complete the external audit of the operations of the one-stop customs window in Douala (Guichet Unique). | 3 | 02/28/2007 | W | At P1R1, implemented with a slight delay caused by donor coordination problems, which led the government to finance the audit itself to avoid another slippage. | 3 | 3 | 2007-02-28 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.2 | 1.2. Revenue administration, including customs | Restructure (in consultation with Fund staff) the customs administration activities under a single entity, which will report to the Minister of Finance. | 4 | 03/31/2007 | M | N/A | 3 | 4 | 2007-03-31 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Set up and publish a plan to repay domestic arrears | 1 | 09/30/2008 | W | P1R2 macroeconomic rationale: Re-establish credibility of the government with respect to the public; reduce debt overhang. At R3, waiver granted, implemented with delay in December 2008. | 3 | 1 | 2008-09-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Eliminate the stock of treasury checks issued in 2005-06 and eliminate the issuance of non-cash backed treasury checks. The government will publicly announce that such treasury checks will no longer be valid after end-September 2007. | 2 | 06/30/2007 | M | N/A | 3 | 2 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.3 | 1.3. Expenditure measures, including arrears clearance | Complete the external audit for the validation of the domestic payments arrears, which accrued during the period 1998-2004. | 3 | 06/30/2007 | W | At P1R1, met with a slight delay due to limited understanding of some donor procurement procedures. | 3 | 3 | 2007-06-30 | N/A | N/A | N/A | N/A |
575 | CENTRAL AFRICAN REPUBLIC | 626 | PRGF | 2006-12-22 | 2,006 | 2009-12-21 | 2,009 | N/A | N/A | N/A | 2008-12-22 | P1 | R3 | BLANK | SPC | 20.7 | 1.7. Fiscal transparency (publication, parliamentary oversight) | Implement a formal procedure to audit and report on a quarterly basis all sources of revenue (tax and non-tax, including those for fees, licenses, and permits in the natural resource sector) accruing to the State. The audits should be carried out by the Inspector General of Finance who will be given access to all relevant information to conduct the audits, and submitted to the Court of Accounts for verification and publication, no later than 2 months after the end of each quarter. The first of such audits should be published by May 2007. | 1 | 03/31/2007 | M | N/A | 3 | 1 | 2007-03-31 | N/A | N/A | N/A | N/A |
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