Cover IMF Staff Country Reports
Cameroon: Second Reviews Under The Extended Credit Facility And The Extended Fund Facility Arrangements, And Requests For Waivers For Performance Criteria Applicability And Modification Of Performance Criterion—Press Release; Staff Report; And Statement By The Executive Director For Cameroon
Author:
International Monetary Fund. African Dept.
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International Monetary Fund. Strategy, Policy, & Review Department
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2022: Issue 268
Language:
French
Publication Date:
05 Dec 2022
DOI:
https://doi.org/10.5089/9798400227264.002
ISBN:
9798400227264
ISSN:
2790-4458
Pages:
127
Keywords:
State asset management company; Cameroon staff team; commitment plan; capacity development strategy note update; authorities' goal; Fuel prices; Energy subsidies; Oil prices; Global
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Following two years of COVID-19 challenges, Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), is facing a new policy environment. The nascent economic recovery from mid-2021, supported by higher oil prices and non-oil production, is now subject to greater uncertainties with spillovers from the war in Ukraine, high inflationary pressures, especially on food and fuel prices, and a tightening of global financial conditions. Low vaccination rates also leave the country vulnerable to further COVID-19 waves. In July 2021, the IMF’s Executive Board approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for SDR 483 million (about US$689.5 million, or 175 percent of Cameroon’s quota) to support the country’s economic and financial reform program.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2022: Issue 268