This amount that will be disbursed by the International Monetary Fund (IMF) is part of Cameroon's economic and financial reform program.
The IMF Executive Board approved the disbursement of $116 million (CFAF 67 billion) to Cameroon. This financial contribution is provided under the Extended Credit Facility (ECF) and the Extended Credit Facility (EFF). "Cameroon's economy has been resilient and is gradually recovering from the Covid-19 pandemic, with risks broadly balanced. Cameroon's performance under the MEDC's ECF program remains on track," said Kenji Okamura, Deputy DG of the IMF.
In July 2021, 97 billion FCFA had already been granted to the State of Cameroon under the same program. With this new fund of 67 billion FCFA, the sum received by Cameroon now amounts to 170.3 billion FCFA. Between 2021 and 2024, a total credit of 375 billion CFA francs will be granted to the country under the FEC and the MEC to support the economic and financial reform program.
According to the IMF, Cameroon's economy has been resilient in the face of the pandemic. Mia uncertainties remain. "Cameroon's economic performance under the reform agenda is generally satisfactory and efforts to promote good governance and transparency are progressing. But reforms are slow," said Kenji Okamura.
