Economic Performance: IMF Lauds Cameroon’s Efforts

 The Deputy Managing Director of the International Monetary Fund (IMF), Mitsuhiro Furusawa made the appraisal after talks with the Prime Minister on September 14, 2017.

Prime Minister, Head of Government, Philemon Yang on September 14, 2017 at the Star Building in Yaounde on behalf of the Head of State, President Paul Biya, had talks with the visiting Deputy Managing Director of the International Monetary Fund (IMF), Mitsuhiro Furusawa.
The IMF senior official told the press after the talks that he had fruitful discussions with the Prime Minister. His working visit to Cameroon comes a few months after the Executive Board of the IMF on June 26, 2017 approved a three-year arrangement under the Extended Credit Facility with Cameroon for SDR 483 million (about 666.2 million US Dollars, or 175 percent of Cameroon’s quota) which is approximately FCFA 400 billion, including FCFA 102 billion available as soon as approval from the IMF Board of Directors is obtained. The facility is to support Cameroon’s economic and financial reform programme. “The Extended Credit Facility support programme is expected to help Cameroon restore external and fiscal sustainability and lay the foundations for sustainable, private sector-led growth”, IMF press release...