Abstract
2018 Article IV Consultation, Second Review Under the Extended Credit Facility Arrangement Requests for Waivers of Nonobservance of Performance Criteria and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Cameroon
Relations With The Fund
A. Financial Relations
As of May 31, 2018
Formerly PRGF.
| Membership Status: Joined: July 10, 1963; | Article VIII | |||
| General Resources Account: | SDR Million | %Quota | ||
| Quota | 276.00 | 100.00 | ||
| Fund holdings of currency | 274.94 | 99.61 | ||
| Reserve Tranche Position | 1.07 | 0.39 | ||
| SDR Department: | SDR Million | % Allocation | ||
| Net cumulative allocation | 177.27 | 100.00 | ||
| Holdings | 15.26 | 8.61 | ||
| Outstanding Purchases and Loans: | SDR Million | % Quota | ||
| ESF RAC Loan | 27.86 | 10.09 | ||
| ECF Arrangements | 207.80 | 75.29 | ||
| Latest Financial Arrangements: | ||||
| Date of | Expiration | Amount Approved | Amount Drawn | |
| Type | Arrangement | Date | (SDR Million) | (SDR Million) |
| ECF | Jun 26, 2017 | Jun 25, 2020 | 483.00 | 207.00 |
| ECF 1 | Oct 24, 2005 | Jan 31, 2009 | 18.57 | 18.57 |
| ECF 1 | Dec 21, 2000 | Dec 20, 2004 | 111.42 | 79.59 |
Formerly PRGF.
| Membership Status: Joined: July 10, 1963; | Article VIII | |||
| General Resources Account: | SDR Million | %Quota | ||
| Quota | 276.00 | 100.00 | ||
| Fund holdings of currency | 274.94 | 99.61 | ||
| Reserve Tranche Position | 1.07 | 0.39 | ||
| SDR Department: | SDR Million | % Allocation | ||
| Net cumulative allocation | 177.27 | 100.00 | ||
| Holdings | 15.26 | 8.61 | ||
| Outstanding Purchases and Loans: | SDR Million | % Quota | ||
| ESF RAC Loan | 27.86 | 10.09 | ||
| ECF Arrangements | 207.80 | 75.29 | ||
| Latest Financial Arrangements: | ||||
| Date of | Expiration | Amount Approved | Amount Drawn | |
| Type | Arrangement | Date | (SDR Million) | (SDR Million) |
| ECF | Jun 26, 2017 | Jun 25, 2020 | 483.00 | 207.00 |
| ECF 1 | Oct 24, 2005 | Jan 31, 2009 | 18.57 | 18.57 |
| ECF 1 | Dec 21, 2000 | Dec 20, 2004 | 111.42 | 79.59 |
Formerly PRGF.
Projected Payments to Fund:1
(SDR millions; based on existing use of resources and present holdings of SDRs)
| Forthcoming | |||
|---|---|---|---|
| 2018 | 2019 | 2020 | |
| Principal | 9.82 | 18.84 | |
| Charges/Interest | 0.76 | 1.54 | 1.53 |
| Total | 10.58 | 20.38 | 1.53 |
| Forthcoming | |||
|---|---|---|---|
| 2018 | 2019 | 2020 | |
| Principal | 9.82 | 18.84 | |
| Charges/Interest | 0.76 | 1.54 | 1.53 |
| Total | 10.58 | 20.38 | 1.53 |
Implementation of HIPC Initiative:
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Enhanced | |
| I. Commitment of HIPC assistance | Framework |
| Decision point date | Oct-00 |
| Assistance committed | |
| by all creditors (US$ Million) 1 | 1,267.00 |
| Of which: IMF assistance (US$ million) | 37.04 |
| (SDR equivalent in millions) | 28.62 |
| Completion point date | Apr-06 |
| II. Disbursement of IMF assistance (SDR Million) | |
| Assistance disbursed to the member | 28.62 |
| Interim assistance | 11.25 |
| Completion point balance | 17.37 |
| Additional disbursement of interest income 2 | 5.05 |
| Total disbursements | 33.67 |
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
| Enhanced | |
| I. Commitment of HIPC assistance | Framework |
| Decision point date | Oct-00 |
| Assistance committed | |
| by all creditors (US$ Million) 1 | 1,267.00 |
| Of which: IMF assistance (US$ million) | 37.04 |
| (SDR equivalent in millions) | 28.62 |
| Completion point date | Apr-06 |
| II. Disbursement of IMF assistance (SDR Million) | |
| Assistance disbursed to the member | 28.62 |
| Interim assistance | 11.25 |
| Completion point balance | 17.37 |
| Additional disbursement of interest income 2 | 5.05 |
| Total disbursements | 33.67 |
Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.
Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.
Implementation of Multilateral Debt Relief Initiative (MDRI):
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| I. MDRI-eligible debt (SDR Million)1 | 173.26 | |||
| Financed by: MDRI Trust | 149.17 | |||
| Remaining HIPC resources | 24.09 | |||
| II. Debt Relief by Facility (SDR Million) | Eligible Debt | |||
| Delivery | ||||
| Date | GRA | PRGT | Total | |
| April 2006 | N/A | 173.26 | 173.26 | |
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
| I. MDRI-eligible debt (SDR Million)1 | 173.26 | |||
| Financed by: MDRI Trust | 149.17 | |||
| Remaining HIPC resources | 24.09 | |||
| II. Debt Relief by Facility (SDR Million) | Eligible Debt | |||
| Delivery | ||||
| Date | GRA | PRGT | Total | |
| April 2006 | N/A | 173.26 | 173.26 | |
The MDRI provides 100 percent debt relief to eligible member countries that qualified for the assistance. Grant assistance from the MDRI Trust and HIPC resources provide debt relief to cover the full stock of debt owed to the Fund as of end-2004 that remains outstanding at the time the member qualifies for such debt relief.
Decision point - point at which the IMF and the World Bank determine whether a country qualifies for assistance under the HIPC Initiative and decide on the amount of assistance to be committed.
Interim assistance - amount disbursed to a country during the period between decision and completion points, up to 20 percent annually and 60 percent in total of the assistance committed at the decision point (or 25 percent and 75 percent, respectively, in exceptional circumstances).
Completion point - point at which a country receives the remaining balance of its assistance committed at the decision point, together with an additional disbursement of interest income as defined in footnote 2 above. The timing of the completion point is linked to the implementation of pre-agreed key structural reforms (i.e., floating completion point).
Implementation of Post-Catastrophe Debt Relief (PCDR): Not Applicable
Safeguards Assessments:
The Bank of the Central African States (BEAC) is the regional central bank of CEMAC. A full safeguards assessments (SA) under the periodic four-year cycle for regional central banks was completed in August 2017. The assessment noted the positive steps taken by the BEAC to complete amendments to its Charter to strengthen governance provisions and plans to enhance financial reporting transparency through full transition to the international financial reporting standards (IFRS) beginning with the 2018 financial statements. The focus will now shift to implementation of the reforms in daily decision-making and secondary legal instruments. The assessment noted, however, that the BEAC will need to reinforce the capacity of its accounting, internal audit, and risk management functions, and that the governance arrangements over reserves management be aligned with the new BEAC charter.
B. Nonfinancial Relations
Exchange Arrangement:
Cameroon participates in a currency union with five other members of the CEMAC and has no separate legal tender. Cameroon’s currency, the CFA franc, is pegged to the euro at the fixed rate of CFAF 655.957 per euro. Local currency equivalent: CFAF 807.4=SDR 1, as of December 31, 2017. Effective January 1, 2007, the exchange arrangement of the CEMAC countries was reclassified as a “conventional pegged arrangement” and not anymore as an “exchange arrangement with no separate legal tender.” The new classification is based on the behavior of the common currency, whereas the previous classification was based on the lack of a separate legal tender. The new classification thus reflects only a definitional change, and is not based on a judgment that there has been a substantive change in the exchange regime or other policies of the currency union or its members.
Cameroon maintains an exchange system free of restrictions on the making of payments and transfers for current international transactions, except for restrictions maintained for security reasons that have been notified to the IMF pursuant to Executive Board decision 144 152/51.
Article IV Consultation:
The last Article IV consultation with Cameroon was concluded by the Executive Board on November 18, 2015.
FSAP Participation and ROSCs:
A Financial System Stability Assessment (FSSA) report was issued in May 2000. An update of the FSSA was completed in February 2009, based on the work of a joint IMF-World Bank mission that visited Cameroon as part of the Financial Sector Assessment Program (FSAP) in June 2007, itself building upon the CEMAC regional FSAP that was conducted in 2006. A CEMAC regional FSAP update was conducted in 2015.
The first Report on the Observance of Standards and Codes (ROSC) on fiscal transparency and transparency of monetary and financial policies for Cameroon was issued in June 2000.
A fiscal ROSC reassessment mission visited Yaoundé, Cameroon, during May 6-18, 2009. Its report was issued in June 2010.
Technical Assistance:
| 2018 | |
| June | FAD mission on fiscal reporting and accounting |
| June | STA mission on balance of payments statistics |
| April | FAD mission on assessing the efficiency and equity of public expenditures |
| April | FAD mission on medium term budget framework |
| April | AFRITAC mission on public debt management |
| April | MCM mission on assessing the valuation of the non-performing loan portfolio |
| March | AFRITAC mission on identifying macro-budgetary needs |
| March | MCM mission on distressed asset valuation |
| March | AFRITAC mission on identifying macro-budgetary needs |
| February | MCM mission on distressed asset valuation |
| 2017 | |
| November | FAD mission on improving budget execution by streamlining derogatory procedures |
| November | AFRITAC government finance statistics |
| September | FAD mission on advancing reforms in tax administration |
| July | STA mission on balance of payments statistics |
| May | AFRITAC-PFM |
| April | TADAT mission |
| April | FAD mission on PFM |
| April | AFRITAC-Central training on PFM |
| April | FAD/AFC tax administration STX visit |
| April | AFRITAC-Central mission on government finance statistics |
| March | FAD short term expert mission on payroll management |
| February | FAD JSA-funded mission on strengthening customs administration |
| February | STA mission on the compilation of quarterly national statistics |
| February | MCM mission on monetary policy design and implementation |
| January | STA/AFC mission on national accounts |
| January | MCM/AFC Public debt management |
| January | FAD/AFW seminar on GDP |
| January | AFRITAC-Central mission and workshop on PFM |
| January | AFRITAC-West workshop on program budgeting |
| 2016 | |
| November | STA JSA funded mission on improving external sector statistics |
| November | FAD/JSA mission to strengthen customs administration for EPA |
| November | STA/AFC mission on Government finance statistics |
| November | AFRITAC-Central mission on revenue administration |
| October | AFRITAC-Central mission on 2008 System of National Accounts |
| October | FAD follow-up mission on mining, oil and gas resource taxation |
| July | FAD/AFC mission on tax administration |
| May | STA mission for AfDB OpenData Initiative for Data Collection |
| May | AFRITAC-Central training mission on PFM |
| April | STA mission on e-GDDS |
| April | FAD mission on budget preparation |
| March | STA/AFRITAC-Central mission on national accounts |
| March | STA mission on e-GDDS |
| March | FAD mission on RA-GAP follow up |
| March | FAD mission on accrual accounting |
| February | STA workshop on monetary and financial statistics |
| February | FAD mission on budget execution |
| February | FAD/AFC mission on PFM |
| January | FAD mission on PFM reform follow up |
| 2015 | |
| December | STA/AFC mission on national accounts |
| November | FAD missions on extractive industries |
| November | FAD mission on budget execution training |
| November | MCM/AFC mission on liability management |
| November | MCM/AFC mission on public debt management |
| October | STA mission on GDDS/NSDP development |
| September | AFRITAC-Central government financial statistics |
| September | FAD/AFC mission on tax administration |
| September | FAD mission on customs administration |
| September | MCM/AFC mission on liability management |
| August | AFRITAC-Central mission on national accounts |
| July | FAD/AFC mission on PFM |
| July | AFRITAC-Central CEMAC Commission regional seminar |
| July | FAD mission on resource taxation follow-up |
| July | STA/AFC mission on government financial statistics |
| June | FAD diagnostic mission on resource |
| May | FAD Customs Administration follow-up visit |
| May | FAD mission on expense targeting |
| May | MCM mission on medium-term management strategy follow-up |
| May | FAD mission to support reforms to budget preparation |
| May | STA AfDB Open Data initiative mission |
| April | FAD mission on revenue administration |
| March | STA mission on production and producer price statistics |
| March | FAD mission on budgetary accounting |
| February | MCM mission on Medium-term Management Strategy |
| February | FAD visit on budget execution and fiscal reporting |
| 2018 | |
| June | FAD mission on fiscal reporting and accounting |
| June | STA mission on balance of payments statistics |
| April | FAD mission on assessing the efficiency and equity of public expenditures |
| April | FAD mission on medium term budget framework |
| April | AFRITAC mission on public debt management |
| April | MCM mission on assessing the valuation of the non-performing loan portfolio |
| March | AFRITAC mission on identifying macro-budgetary needs |
| March | MCM mission on distressed asset valuation |
| March | AFRITAC mission on identifying macro-budgetary needs |
| February | MCM mission on distressed asset valuation |
| 2017 | |
| November | FAD mission on improving budget execution by streamlining derogatory procedures |
| November | AFRITAC government finance statistics |
| September | FAD mission on advancing reforms in tax administration |
| July | STA mission on balance of payments statistics |
| May | AFRITAC-PFM |
| April | TADAT mission |
| April | FAD mission on PFM |
| April | AFRITAC-Central training on PFM |
| April | FAD/AFC tax administration STX visit |
| April | AFRITAC-Central mission on government finance statistics |
| March | FAD short term expert mission on payroll management |
| February | FAD JSA-funded mission on strengthening customs administration |
| February | STA mission on the compilation of quarterly national statistics |
| February | MCM mission on monetary policy design and implementation |
| January | STA/AFC mission on national accounts |
| January | MCM/AFC Public debt management |
| January | FAD/AFW seminar on GDP |
| January | AFRITAC-Central mission and workshop on PFM |
| January | AFRITAC-West workshop on program budgeting |
| 2016 | |
| November | STA JSA funded mission on improving external sector statistics |
| November | FAD/JSA mission to strengthen customs administration for EPA |
| November | STA/AFC mission on Government finance statistics |
| November | AFRITAC-Central mission on revenue administration |
| October | AFRITAC-Central mission on 2008 System of National Accounts |
| October | FAD follow-up mission on mining, oil and gas resource taxation |
| July | FAD/AFC mission on tax administration |
| May | STA mission for AfDB OpenData Initiative for Data Collection |
| May | AFRITAC-Central training mission on PFM |
| April | STA mission on e-GDDS |
| April | FAD mission on budget preparation |
| March | STA/AFRITAC-Central mission on national accounts |
| March | STA mission on e-GDDS |
| March | FAD mission on RA-GAP follow up |
| March | FAD mission on accrual accounting |
| February | STA workshop on monetary and financial statistics |
| February | FAD mission on budget execution |
| February | FAD/AFC mission on PFM |
| January | FAD mission on PFM reform follow up |
| 2015 | |
| December | STA/AFC mission on national accounts |
| November | FAD missions on extractive industries |
| November | FAD mission on budget execution training |
| November | MCM/AFC mission on liability management |
| November | MCM/AFC mission on public debt management |
| October | STA mission on GDDS/NSDP development |
| September | AFRITAC-Central government financial statistics |
| September | FAD/AFC mission on tax administration |
| September | FAD mission on customs administration |
| September | MCM/AFC mission on liability management |
| August | AFRITAC-Central mission on national accounts |
| July | FAD/AFC mission on PFM |
| July | AFRITAC-Central CEMAC Commission regional seminar |
| July | FAD mission on resource taxation follow-up |
| July | STA/AFC mission on government financial statistics |
| June | FAD diagnostic mission on resource |
| May | FAD Customs Administration follow-up visit |
| May | FAD mission on expense targeting |
| May | MCM mission on medium-term management strategy follow-up |
| May | FAD mission to support reforms to budget preparation |
| May | STA AfDB Open Data initiative mission |
| April | FAD mission on revenue administration |
| March | STA mission on production and producer price statistics |
| March | FAD mission on budgetary accounting |
| February | MCM mission on Medium-term Management Strategy |
| February | FAD visit on budget execution and fiscal reporting |
Resident Representative:
The post of IMF Resident Representative has been maintained in Yaoundé continuously since 1989. The current Resident Representative, Mr. Kadima Kalonji, has been stationed in the field since September 1, 2015.
Work Program with Partner Institutions
The World Bank work program can be found on the following website:
http://www.worldbank.org/en/country/cameroon
The African Development Bank work program can be found on the following website:
Statistical Issues
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision has shortcomings, but is broadly adequate for surveillance purposes. There is scope for Improvements in quality, coverage, and timeliness in most macroeconomic datasets. | |
| Real sector statistics: A rebasing to 2005 of national accounts was implemented in July 2017 by the Institut National de la Statistique du Cameroun (INS). The INS is in the process of incorporating the source data to base year 2015. The INS also compiles a quarterly GDP time series, and has received IMF technical assistance to improve seasonal adjustments. INS publishes a monthly Consumer Price Index (CPI) using base year 2011. | |
| Government finance statistics: The quality of fiscal data is broadly adequate for surveillance, but there are some shortcomings in terms of coverage, periodicity, timeliness, and accessibility of the data. Monthly reports on the overall budget execution and the investment budget execution have been produced on a continuous basis. Despite this progress, there is a need for the dissemination of data based on the Government Finance Statistics Manual 2001/2014 (GFSM 2001/2014). Weaknesses in the fiscal data include: (i) incomplete compilation of budget implementation data on a commitment and, to some extent, on a cash basis; (ii) a lack of information on the financial situation of local governments; (iii) poor monitoring of cross-liabilities in the public sector and of public enterprise debt; and (iv) lack of comprehensive and timely financial information on public enterprises. The authorities plan to establish comprehensive fiscal accounts on a commitment basis, a functional classification of the budget and will strive to monitor the float (i.e., the difference between balances on a cash and on a commitment basis). Efforts to enhance transparency of financial operations in the oil sector should also improve overall fiscal reporting. Efforts are also underway to collect data on the operations of all public enterprises, and the 2018 budget included an annex with detailed financial information on state-owned enterprises (Livre vert). The authorities should focus on the implementation of the CEMAC TOFE Directive 5/11, requesting compilation and publication of a TOFE for general government (based on GFSM2001) by January 1, 2024. | |
| Monetary and financial statistics: Monetary statistics are reported to the Fund by the Banque des États de [‘Afrique Centrale (BEAC) on a monthly basis in the standardized report forms (SRFs), with delays of up to two months. A key shortcoming of monetary and financial statistics is the lack of data for interest rates offered by financial institutions to non-financial entities on deposits and loans. In addition, the depository corporation survey does not include data from deposit taking microfinance institutions, a fast-growing sector in the country. | |
| Financial sector surveillance: The Banking Commission of Central African States (COBAC) reports all core and some encouraged financial soundness indicators to STA for Cameroon. | |
| Balance of payments: Cameroon participates in the JSA/AFR Project to Improve External Sector Statistics (ESS) in selected francophone African Countries. Cameroon has received technical assistance (TA) in ESS under the JSA/AFR project since Nov 2016. Balance of payments data are reported annually. Since the March 2006 STA technical assistance, the authorities have started to produce higher quality BOP data, albeit with significant delays, partly due to delays in reporting financial and capital account data from BEAC. Yearly IIP data were submitted for the first time in December 2016 for the years 2012-15. | |
| External debt: External debt data are broadly adequate for surveillance, but are comprehensive only for public and explicitly guaranteed debt. Data are collected by the Caisse Autonome d’Amortissement (CAA), which is responsible for servicing the government’s external debt obligations. The CAA’s database is fairly comprehensive, contains accurate stock data, and produces projected debt-service flows on a loan-by-loan basis. However, debt disbursements and position statements are not regularly received from some foreign creditors, which causes significant impairment to real-time and comprehensive debt monitoring. | |
| II. Data Standards and Quality | |
| Cameroon commenced its participation in the General Data Dissemination System (GDDS) in 2001. In July 2017, Cameroon began publishing critical macroeconomic data on the website of the National Institute of Statistics— the National Summary Data Page (NSDP), marking the implementation of the enhanced General Data Dissemination System (e-GDDS). | No ROSC data are available. |
| III. Reporting to STA | |
| Cameroon does not report data for publication in the IMF Government Finance Statistics Yearbook or the government finance statistics section in International Financial Statistics. Data reporting for publication in the Fund’s Balance of Payments Statistics publications has encountered delays. | |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision has shortcomings, but is broadly adequate for surveillance purposes. There is scope for Improvements in quality, coverage, and timeliness in most macroeconomic datasets. | |
| Real sector statistics: A rebasing to 2005 of national accounts was implemented in July 2017 by the Institut National de la Statistique du Cameroun (INS). The INS is in the process of incorporating the source data to base year 2015. The INS also compiles a quarterly GDP time series, and has received IMF technical assistance to improve seasonal adjustments. INS publishes a monthly Consumer Price Index (CPI) using base year 2011. | |
| Government finance statistics: The quality of fiscal data is broadly adequate for surveillance, but there are some shortcomings in terms of coverage, periodicity, timeliness, and accessibility of the data. Monthly reports on the overall budget execution and the investment budget execution have been produced on a continuous basis. Despite this progress, there is a need for the dissemination of data based on the Government Finance Statistics Manual 2001/2014 (GFSM 2001/2014). Weaknesses in the fiscal data include: (i) incomplete compilation of budget implementation data on a commitment and, to some extent, on a cash basis; (ii) a lack of information on the financial situation of local governments; (iii) poor monitoring of cross-liabilities in the public sector and of public enterprise debt; and (iv) lack of comprehensive and timely financial information on public enterprises. The authorities plan to establish comprehensive fiscal accounts on a commitment basis, a functional classification of the budget and will strive to monitor the float (i.e., the difference between balances on a cash and on a commitment basis). Efforts to enhance transparency of financial operations in the oil sector should also improve overall fiscal reporting. Efforts are also underway to collect data on the operations of all public enterprises, and the 2018 budget included an annex with detailed financial information on state-owned enterprises (Livre vert). The authorities should focus on the implementation of the CEMAC TOFE Directive 5/11, requesting compilation and publication of a TOFE for general government (based on GFSM2001) by January 1, 2024. | |
| Monetary and financial statistics: Monetary statistics are reported to the Fund by the Banque des États de [‘Afrique Centrale (BEAC) on a monthly basis in the standardized report forms (SRFs), with delays of up to two months. A key shortcoming of monetary and financial statistics is the lack of data for interest rates offered by financial institutions to non-financial entities on deposits and loans. In addition, the depository corporation survey does not include data from deposit taking microfinance institutions, a fast-growing sector in the country. | |
| Financial sector surveillance: The Banking Commission of Central African States (COBAC) reports all core and some encouraged financial soundness indicators to STA for Cameroon. | |
| Balance of payments: Cameroon participates in the JSA/AFR Project to Improve External Sector Statistics (ESS) in selected francophone African Countries. Cameroon has received technical assistance (TA) in ESS under the JSA/AFR project since Nov 2016. Balance of payments data are reported annually. Since the March 2006 STA technical assistance, the authorities have started to produce higher quality BOP data, albeit with significant delays, partly due to delays in reporting financial and capital account data from BEAC. Yearly IIP data were submitted for the first time in December 2016 for the years 2012-15. | |
| External debt: External debt data are broadly adequate for surveillance, but are comprehensive only for public and explicitly guaranteed debt. Data are collected by the Caisse Autonome d’Amortissement (CAA), which is responsible for servicing the government’s external debt obligations. The CAA’s database is fairly comprehensive, contains accurate stock data, and produces projected debt-service flows on a loan-by-loan basis. However, debt disbursements and position statements are not regularly received from some foreign creditors, which causes significant impairment to real-time and comprehensive debt monitoring. | |
| II. Data Standards and Quality | |
| Cameroon commenced its participation in the General Data Dissemination System (GDDS) in 2001. In July 2017, Cameroon began publishing critical macroeconomic data on the website of the National Institute of Statistics— the National Summary Data Page (NSDP), marking the implementation of the enhanced General Data Dissemination System (e-GDDS). | No ROSC data are available. |
| III. Reporting to STA | |
| Cameroon does not report data for publication in the IMF Government Finance Statistics Yearbook or the government finance statistics section in International Financial Statistics. Data reporting for publication in the Fund’s Balance of Payments Statistics publications has encountered delays. | |
Cameroon: Table of Common Indicators Required for Surveillance
(As of May 31, 2018)
Monthly (M), Quarterly (Q), Annual (A), and Not Available (NA).
Of the monetary authorities. Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Goods only, data on trade in services are not available.
Cameroon: Table of Common Indicators Required for Surveillance
(As of May 31, 2018)
| Date of latest observation | Date received | Frequency of data1 | Frequency of reporting1 | Frequency of publication1 | |
|---|---|---|---|---|---|
| Exchange rates | May 2018 | June 2018 | M | M | M |
| International reserve assets and liabilities2 | April 2018 | June 2018 | M | M | M |
| Reserve/Base money | April 2018 | June 2018 | M | M | M |
| Broad money | April 2018 | June 2018 | M | M | M |
| Central bank balance sheet | April 2018 | June 2018 | M | M | M |
| Consolidated balance sheet of the banking system | April 2018 | June 2018 | M | M | M |
| Interest rates3 | April 2018 | June 2018 | M | M | M |
| Consumer price index (main cities) | April 2018 | June 2018 | M | M | M |
| Consumer price index (national) | April 2018 | June 2018 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing4 - General government5 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing4 - Central government5 | March 2018 | May 2018 | M | M | Partial data published monthly |
| Stocks of debt contracted or guaranteed by the central government6 | March 2018 | May 2018 | M | M | M |
| External current account balance | December 2017 | March 2018 | Q | Q | NA |
| Exports and imports of goods and services7 | March 2018 | May 2018 | M | M | NA |
| GDP/GNP | December 2017 | March 2018 | Q | Q | Q |
| Gross external debt | March 2018 | May 2018 | Q | Q | Q |
| International investment position | NA | NA | NA | NA | NA |
Monthly (M), Quarterly (Q), Annual (A), and Not Available (NA).
Of the monetary authorities. Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Goods only, data on trade in services are not available.
Cameroon: Table of Common Indicators Required for Surveillance
(As of May 31, 2018)
| Date of latest observation | Date received | Frequency of data1 | Frequency of reporting1 | Frequency of publication1 | |
|---|---|---|---|---|---|
| Exchange rates | May 2018 | June 2018 | M | M | M |
| International reserve assets and liabilities2 | April 2018 | June 2018 | M | M | M |
| Reserve/Base money | April 2018 | June 2018 | M | M | M |
| Broad money | April 2018 | June 2018 | M | M | M |
| Central bank balance sheet | April 2018 | June 2018 | M | M | M |
| Consolidated balance sheet of the banking system | April 2018 | June 2018 | M | M | M |
| Interest rates3 | April 2018 | June 2018 | M | M | M |
| Consumer price index (main cities) | April 2018 | June 2018 | M | M | M |
| Consumer price index (national) | April 2018 | June 2018 | M | M | M |
| Revenue, Expenditure, Balance and Composition of Financing4 - General government5 | NA | NA | NA | NA | NA |
| Revenue, Expenditure, Balance and Composition of Financing4 - Central government5 | March 2018 | May 2018 | M | M | Partial data published monthly |
| Stocks of debt contracted or guaranteed by the central government6 | March 2018 | May 2018 | M | M | M |
| External current account balance | December 2017 | March 2018 | Q | Q | NA |
| Exports and imports of goods and services7 | March 2018 | May 2018 | M | M | NA |
| GDP/GNP | December 2017 | March 2018 | Q | Q | Q |
| Gross external debt | March 2018 | May 2018 | Q | Q | Q |
| International investment position | NA | NA | NA | NA | NA |
Monthly (M), Quarterly (Q), Annual (A), and Not Available (NA).
Of the monetary authorities. Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Goods only, data on trade in services are not available.
When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.