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Yaoundé - 05 July 2020 -
Economy

Cameroon praises successful conclusion of the 4th review under the extended credit facility

Cameroon praises successful conclusion of the 4th review under the extended credit facility
  • Comments   -   Friday, 19 July 2019 12:02

(Business in Cameroon) - Following the successful completion of the fourth review of Cameroon’s extended credit facility with the IMF, Louis Paul Motaze (photo) praised this successful conclusion which entitles the country to XAF45 billion.

IMF administrators’ decision while comforting the government in the implementation of budget consolidation policies and structural reforms necessary to the improvement of the performances of our economy, just enhanced our credibility towards technical and financial partners,” the minister said.

He adds that Cameroon is committed to the implementation of reforms stated in the programme namely, consolidation of the macroeconomic stability, and enhancement of competitiveness, improvement of social services and extension of social care to the vulnerable population.

The ministry of finance expects the economy to improve to reach or even exceed 4.5% in 2019-2021. According to the official, thanks to reforms initiated in the framework of the extended credit facility, Cameroon reached 4% growth in 2018, after two years of economic slowdown.

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