Diplomatic representation in the US: chief of mission: Ambassador Henri KOBA chancery: 1618 22nd Street NW, Washington, DC 20008 telephone : [1] (202) 483-7800, 7801 FAX: [1] (202) 332-9893

Diplomatic representation from the US: chief of mission: Ambassador Mosina H. JORDAN embassy: Avenue David Dacko, Bangui mailing address : B. P. 924, Bangui telephone: [236] 61 02 00, 61 25 78, 61 02 10 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

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. Inflation, however, remains a problem. Moreover, ongoing violence between the government and rebel military and civilian groups over pay issues, living conditions, and opposition party political representation has destroyed many businesses in the capital, reducing tax revenues for the government, and delaying negotiations for an IMF financial aid agreement.

GDP: purchasing power parity - $2.5 billion (1995 est.)

GDP - real growth rate: 4.8% (1995 est.)

GDP - per capita: purchasing power parity - $800 (1995 est.)

GDP - composition by sector: agriculture: 50% industry: 14% services: 36% (1994 est.)

Inflation rate - consumer price index: 19.4% (1995)