Economic and Financial Programme 2021-2024: Cameroon-IMF Concludes Second Review Mission

A delegation from the International Monetary Fund (IMF) has ended its one week sojourn in the country during which they held discussions with key stakeholders.

T he second review mission of the International Monetary Fund (IMF) to Cameroon within the framework of the Economic and Financial Programme under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) approved on July 29, 2021. The IMF delegation to Cameroon for the second review mission (the first was in December 2021) led by Amadou Sy held working sessions with key Cameroonian economy stakeholders including the Ministers of Finance, Economy, Planning and Regional Development, officials of the National Debt Recovery Corporation and credit institutions amongst others. Discussions during the five days review mission centred on food security, energy, budget sustainability, structural reforms and fiscal risk of public enterprises, debt servicing amongst other issues. During the meetings, the Cameroonian technical teams and IMF delegations also exchanged on the current global economic challenges notably the impact of the Russia-Ukriane war, the effects of the coronavirus pandemic, generalized inflations and how to contain it as well as economic perspective of Cameroon.

It emerged from the encounter with the Minister of Finance last Friday that the IMF review mission was satisfactory. It therefore goes without saying that after the second review if Cameroon’s performance fulfils the conditions of the programme, IMF will likely disburse funds under the Extended Credit Facility and Extended Fund Facility. The last disbursement after the first review was in February 2022 with FCFA 67 billion which took the total disbursement so far to FCFA 170.3 billion for the 36 months Economic and Financial Programme worth FCFA 375 billion. Amadou Sy noted that the world economy is plunged into vi...

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