The Central African Republic (CAR) has received optimism from the International Monetary Fund (IMF) one year after adopting Bitcoin as legal tender. The IMF's positive outlook is based on the country's economic prospects and the impact of embracing the leading cryptocurrency.

The IMF's report indicates a projected rebound in the CAR's gross domestic product (GDP) growth to 2.2% in 2023, attributed to factors such as policy adjustments and enhanced fuel supply. The IMF also predicts an average inflation rate of 6.3% for the same year.

While the report states that the CAR's projected public debt remains sustainable, it highlights significant liquidity risks due to potential shortfalls in donor support and challenges in accessing domestic and regional markets.

As the second country in the world to adopt Bitcoin as legal tender after El Salvador, the CAR aims to leverage the potential of cryptocurrency to reshape its financial infrastructure and improve its economic prospects.

Following the adoption of Bitcoin, the CAR government initiated the Sango Project, which aims to integrate digital currency into the country's financial system. However, the listing of Sango Coin on crypto exchanges has faced delays due to market conditions and regulatory obstacles. The government task force is actively working on legal amendments to enable the smooth integration of the cryptocurrency.

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