The Central African Republic: Behind the Headlines
Before the peak of senseless violence in the CAR hit international headlines, dysfunctions of the country were on steroids: at work since 1960 when it had independence from France. Through steady breakdown of the economy, the ingredients for state collapse were falling into place, in a way that the world barely noticed. A blessing While the landlocked CAR falls under the group of least developed countries, it is richly blessed by nature. Below and above its top soil, lies a range of globally demanded economic resources. As one of the top-20 most-fiscally dependent economies on natural resources in sub-Saharan Africa, export of diamonds and timber are one of the biggest drivers of its economic growth. From 2005-2010, over 40 percent of the country’s exports were from extractive industries. Other important components of the economy are subsistence farming with 28.3 percent, and livestock agriculture 12.7 percent of GDP. The ...