anuel TOUABOY

chancery: 1618 22nd Street NW, Washington, DC 20008

telephone: [1] (202) 483-7800

FAX: [1] (202) 332-9893

Diplomatic representation from the US: chief of mission: Ambassador
Robert C. PERRY

embassy: Avenue David Dacko, Bangui

mailing address: B. P. 924, Bangui

telephone: [236] 61 02 00

FAX: [236] 61 44 94

Flag description: four equal horizontal bands of blue (top), white,
green, and yellow with a vertical red band in center; there is a
yellow five-pointed star on the hoist side of the blue band

Central African Republic Economy

Economy - overview: Subsistence agriculture, together with forestry,
remains the backbone of the economy of the Central African Republic
(CAR), with more than 70% of the population living in outlying
areas. The agricultural sector generates half of GDP. Timber has
accounted for about 16% of export earnings and the diamond industry
for nearly 54%. Important constraints to economic development
include the CAR's landlocked position, a poor transportation system,
a largely unskilled work force, and a legacy of misdirected
macroeconomic policies. The 50% devaluation of the currencies of 14
Francophone African nations on 12 January 1994 had mixed effects on
the CAR's economy. Diamond, timber, coffee, and cotton exports
increased, leading an estimated rise of GDP of 7% in 1994 and nearly
5% in 1995. Military rebellions and social unrest in 1996 were
accompanied by widespread destruction of property and a drop in GDP
of 2%. The IMF approved an Extended Structure Adjustment Facility in
1998 and the World Bank extended further credits in 1999 and
approved a $10 million loan in early 2001. The government has set
targets of 3.5% GDP growth in 2001 and 2002. As of January 2001,
many civil servants were owed as much as 30 months pay, leading them
to go on strike and further damaging the economy.

GDP: purchasing power parity - $6.1 billion (2000 est.)

GDP - real growth rate: 3.5% (2000 est.)

GDP - per capita: purchasing power parity - $1,700 (2000 est.)

GDP - composition by sector: agriculture: 53%

industry: 20%

services: 27% (1999 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%:
0.7%

highest 10%: 47.7% (1993)

Inflation rate (consumer prices): 3% (2000 est.)

Labor force: NA

Unemployment rate: 6% (1993)

Budget: revenues: $638 million

expenditures: $1.9 billion, i