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

August 4, 2022

Preview Citation

Format: Chicago

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, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Also available in: français

Summary

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.

Subject: Energy subsidies, Expenditure, External debt, Fuel prices, International organization, Monetary policy, Oil prices, Prices, Public debt

Keywords: Authorities' goal, Cameroon staff team, Capacity development strategy note update, Commitment plan, Energy subsidies, Fuel prices, Global, Oil prices, State asset management company

Publication Details

Pages:

127
Volume:

---
DOI:

---
Issue:

---
Series:

Country Report No. 2022/268
Stock No:

1CMREA2022003
ISBN:

9798400217388
ISSN:

1934-7685

FACTSHEETS

RESOURCES

TOPICS

Flagship Publications

Other Publications

IMF reports and publications by country

Regional Offices

All News

See Also

For Journalists

Press Center

RESOURCES

FLAGSHIPS

KEY SERIES

IMF NOTES

IMF Staff Country Reports