Press Release No. 13/169

Press Release: Statement by Ms. Sayeh, Director of the IMF's African Department, at the Conclusion of a Visit to Cameroon

May 14, 2013

Ms. Antoinette Monsio Sayeh, Director of the International Monetary Fund (IMF) African Department, visited Cameroon from May 10-12, 2013, to meet with the Cameroonian authorities and other stakeholders and to present the Regional Economic Outlook, Building Momentum in a Multi-Speed World (see Press Release No. 13/162). At the conclusion of her visit she made the following statement about her meetings in Yaoundé:

“It has been a great pleasure for me to visit Cameroon. I have had the privilege of meeting with Prime Minister Philemon Yang, Minister of Finance Mey, and M. Hamid Tahir Nguilin, the Vice-Governor of the Banque des Etats de l’Afrique Centrale. I am also glad I had the opportunity to meet with representatives of the private sector and civil society, and development partners.

“In my meetings with the Cameroonian authorities, we exchanged views on the global economy, Africa’s outlook, and how to boost growth. In addition, we discussed how the IMF can further support Cameroon’s objectives in building lasting growth and shared prosperity.

“Given the large infrastructure gaps, the government is rightly emphasizing public investment in infrastructure. During our discussions, I highlighted three issues that are key to help promote sustainable and inclusive growth: maintaining fiscal sustainability while accelerating the infrastructure development; creating the right climate to spur private sector involvement; and ensuring that growth is shared by expanding basic social protection for the poorest members of the population. I know that these issues are high on the authorities’ agenda.

“A mission is currently in Cameroon to conduct our annual review of the economy (so-called Article IV consultation) and I will leave more of the details of the ongoing policy discussions with the authorities to Mr. Mario de Zamaróczy, who will issue a detailed statement at the conclusion of the mission.

“I would like to express my deep gratitude to the Cameroonian government and people for their gracious hospitality. I look forward very much to visiting Cameroon again.”