Central African Republic

The former French colony of Ubangi-Shari became the Central African Republic upon independence in 1960. After three tumultuous decades of misrule - mostly by military governments - civilian rule was established in 1993 and lasted for one decade. President Ange-Felix PATASSE's civilian government was plagued by unrest, and in March 2003 he was deposed in a military coup led by General Francois BOZIZE, who established a transitional government. Though the government has the tacit support of civil society groups and the main parties, a wide field of candidates contested the municipal, legislative, and presidential elections held in March and May of 2005 in which General BOZIZE was affirmed as president. The government still does not fully control the countryside, where pockets of lawlessness persist. Unrest in the neighboring nations of Chad, Sudan, and the DRC continues to affect stability in the Central African Republic as well.

Economical characteristics

 * Currency: Central African CFA franc (ISO code: XAF)
 * Central bank discount rate: 4.75% (31 December 2008)
 * Commercial banks lending rate: NA% (31 December 2008)
 * Stock of money (M1): $241.3 million (31 December 2008)
 * Quasi money (with M1 makes M2): $51.65 million (31 December 2008)

Notable events:

 * Banking crisis: 1988-1999
 * Public default: 1981, 1983-2009 (external)
 * Years in inflation: 4% (share of years 1960-2009 with annual inflation above 20 per cent per annum)

Links

 * Central African Republic on Wikipedia
 * Central bank of Central African Republic
 * BBC country profile