Cameroon has been lauded for it’s implementation of a three-year programme of the International Monetary Fund (IMF) on the Extended Credit Facility.
The appraisal was made August 29, by Corinne Delechat, head of an IMF mission team to Yaounde in the presence of Finance Minister, Alamine Ousmane Mey, Minister of the Economy, Planning and Regional Development, Louis Paul Motaze, as well as other government officials.
Speaking to the press on the reasons for the IMF mission to Cameroon, Corinne Delechat said the visit was aimed at reviewing the first half of the execution year and discuss with authorities about the performance and perspectives for the rest of the year and next year.
She noted that Cameroonian authorities are doing well and are determined to stick to the objectives of the programme. “There has also been progress on structural reforms,” she said while citing a report on budget execution which has been published.
According to to the IMF mission head, the idea is to measure and improve transparency and communication between the government and the public. She also lauded other measures taken by Cameroon in terms of strengthening management of public finances and improving the business environment.
The Executive Board of IMF earlier in June this year, approved approximately FCFA 388.2 billion, for Cameroon under the Extended Credit Facility. The board also announced the Board’s decision to immediately disburse US$ 171.3 million (about FCFA 99.8 billion) to Cameroon and to give the rest of the package over the three-year duration of the loan.