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Central African Republic's adoption of Bitcoin leads to positive economic outlook from IMF

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The International Monetary Fund (IMF) has expressed optimism about the economic prospects of the Central African Republic (CAR) one year after its adoption of Bitcoin. The IMF's report indicates a projected rebound in real GDP growth to 2.2% in 2023, with an average inflation rate of 6.3%. While the projected public debt of the CAR is expected to remain sustainable, the report highlights significant liquidity risks due to potential shortfalls in donor support and challenges in accessing domestic and regional markets. Despite being one of the poorest nations in the world, the CAR is leveraging the potential of Bitcoin to reshape its financial infrastructure and boost its economic prospects. The government is actively working on legal amendments to enable the smooth integration of the national token, Sango Coin, built on the Bitcoin Network.

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