 |
Policy Area  |
Implemented Policy Measures |
Implementation Date |
|
|
| 1. Incentives policies |
a. Exchange and
trade system |
Reduction of nonforestry export taxes from 13.5
percent to 10 percent (from CFAF 6,500 to CFAF 4,000 per ton of bananas). |
July 1, 1997 |
|
Creation of a competitiveness committee with private
sector participation. |
December 31, 1997 |
b. Regulatory and
domestic pricing
policy |
Adoption of new competition law aimed at preventing
and penalizing the abuse of market power and restrictive trade practices. |
June 1998 |
|
Introduction of a mechanism for monthly revision of
petroleum product prices to reflect movements in world market prices. |
December 31, 1997 |
|
Elimination of the national refinery's (SONARA)
monopoly over the supply of petroleum products via liberalization of competing imports, and
establishment of a temporary surcharge on imported refined petroleum products. |
July 1, 1998 |
|
|
| 2. Fiscal policy and public
sector |
a. Revenue and
expenditure |
Completion of a census of enterprise tax arrears as of
June 30, 1997, and definition of a collection strategy. |
December 31, 1997 |
|
Adoption of a value-added tax (VAT). |
June 30, 1998 |
|
Timely transfer to the Treasury of the oil sector
revenue collected by the national petroleum company (SNH). |
1997/98 |
|
Issuance of tax identification numbers to all
enterprises subject to profit taxes (régime réel). |
December 31, 1997 |
|
Increase of forestry acreage fee and improved
collection of forestry taxes by basing the stumpage fee and export taxes on f.o.b. export
prices. |
July 1, 1997 |
|
Renegotiation of enterprise-specific conventions to
reduce tax exemptions. |
1997/98 |
|
Increase in the share of nonwage primary spending on
priority sectors from 51 percent to 55 percent. |
1997/98 |
|
Adoption of first phase of the new accounting system
at the Treasury (PATRIOT). |
July 1, 1997 |
b. Public enterprise
reform |
Provision of adequate financing of the Privatization
and Rehabilitation Commissions. |
1997/98 |
|
Selection of a private concessionaire for the railway
system (REGEFERCAM). |
May 1998 |
|
Launching of competitive bidding for the privatization
of SOCAPALM, CAMSUCO, and SNEC. |
1997/98 |
|
Completion of preparatory studies on the privatization
of CDC. |
May 1998 |
|
Adoption of new regulatory frameworks for the
telecommunications sector. |
June 30, 1998 |
|
Launching of competitive bids to allow the private
sector to establish a second cellular telephone service. |
June 1998 |
|
Progressive transfer to ordinary law status of a
number of state companies with public capital and mixed enterprises. |
1997/98 |
c. Administrative
reform |
Completion of organizational structures for the
Culture Ministry. |
December 1997 |
|
Departure of 1,229 civil servants under the 1995/96
and 1996/97 departure program (POEs). |
1997/98 |
|
|
| 3. Financial sector
policy |
|
Initiation of a feasibility study on establishing a
regional financial market. |
May 1998 |
|
Revocation of the legal clauses stipulating that at least
one third of bank capital must be held by Cameroonian interests. |
July 1, 1997 |
|
Constitution of a trust fund to guarantee payment of
principal on 30-year bonds issued to restructure commercial banks. |
1997/98 |
|
Liberalization of commissions on bank
transactions. |
July 1998 |
|
Submission of savings and loan cooperatives to
COBAC supervision. |
June 30, 1998 |
|
Collection of CFAF 13 billion of nonperforming
assets (relative to a target of CFAF 7 billion) by SRC. |
1997/98 |
|
Launching of bids for the privatization of two public
insurance companies (SOCAR and CNR). |
June 30, 1998 |
|
|
| 4. External debt |
|
Restructuring of the debt to Paris Club
creditors. |
October 1997 |
|
Implementation of the Commonwealth debt reporting
system by the national debt management agency (CAA). |
1997/98 |
|
Initiation of the process of data reconciliation with
London Club creditors. |
1997/98 |
|
|
| 5. Sectoral and social
policies |
| a. Energy |
Completion of an independent audit of SNH's
accounts by an independent public accounting company. |
December 31, 1997 |
|
Adoption of an action plan to revamp SNH's
accounting system. |
June 1998 |
| b. Transport |
Adoption of a comprehensive restructuring plan for
the port of Douala. |
May 1998 |
|
Elimination of all national preferences and
cargo-sharing arrangements for maritime transportation. |
December 31, 1997 |
| c. Education |
Adoption of a law orienting education policy. |
March 1998 |
| d. Health |
Authorization of health centers to retain 100 percent
of their revenues. |
June 30, 1998 |
|
Completion of preparation of national health
map. |
June 1998 |
|
Making the Centre National
d'Approvisionnement des Médicaments Essentiels (CENAME) fully
operational. |
September 1997 |
|
|
