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Yaoundé - 20 November 2018 -
Finance

Cameroon plans to secure CFA60bn following the third review of IMF's economic program

Cameroon plans to secure CFA60bn following the third review of IMF's economic program
  • Comments   -   Thursday, 08 November 2018 15:43

(Business in Cameroon) - Led by Corinne Deléchat (photo), an International Monetary Fund (IMF) mission to Cameroon is conducting the third performance assessment of the three-year economic and financial program, from 5 to 12 November 2018.

This third review will allow a disbursement of about CFA60 billion at the end of the year, according to what Mrs Deléchat told the media at the end of a hearing on 5 November in Yaoundé, with the Minister of Finance, Louis Paul Motaze.

“We have benchmarks that have been set for the end of June [2018]. We must ensure that we will be able to meet the year-end targets and that we have a coherent macroeconomic framework for the medium term. So we just got into work and there is no conclusion yet, but we have an excellent desire from authorities to continue talks with the IMF and achieve the objectives of the program,” said Corinne Deléchat.

Corinne Deléchat's team also met the economy minister Alamine Ousmane Mey and talks between the two parties focused on progress of major investment projects and their financing, the external borrowing scheme for 2018-2020, and the public-private partnership agreements relating to the projects of the Growth and Employment Strategy Paper (DSCE).

The two parties also discussed the status of mechanisms for assessing, maturing, implementing and executing investment project disbursements as well as the monitoring of non-disbursed committed balances.

Sylvain Andzongo

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