IMF Mission: Cameroon’s Economic, Financial Performance Reviewed

On a working visit, as part of the fourth review of the Economic and Financial Program (PEF) concluded with the International Monetary Fund (IMF) for the period 2021-2024 and supported by the Extended Credit Facility (ECF) and the Extended Credit Facility Credit (MEDC), the IMF mission, led by Cemile Sancak, held discussions with the Minister of Economy, Planning and Regional Development, Alamine Ousmane Mey, in Yaounde on Monday, May 8, 2023.

Exchanges between the Minister and the Head of the IMF mission generally focused on the objectives of the IMF mission in Cameroon, including the country’s economic and financial performance.

Recent developments and prospects for Cameroon’s economy were also on the menu for discussion. According to the mission's agenda, several other subjects of interest discussed relate to the policy of pricing and subsidies for consumer products; SND30, fiscal policy and medium-term debt strategy; prioritisation, evaluation, maturation, implementation and monitoring of investment projects, among others.

At the end of the meeting, Cemile Sancak highlighted that emphasis was placed on the necessary conditions to be taken for the development of the private sector and Cameroon’s economy. She also assured that within the framework of the macro-economic framework, Cameroon authorities are working on amending the Finance Law for 2023. With regard to the 2024 Finance Law, Cameroon is working on several reforms to improve revenue collection, the efficiency of public expenditure and the strengthening of governance, among others.