Cameroon-IMF : Cooperation Evaluated At Unity Palace

The International Monetary Fund (IMF) has saluted the resilience of Cameroon’s economy amidst global shocks and the successful completion of the Extended Credit Facility Programme, promising to continually stand by the country in surmounting other economic challenges staring her in the face. Kenji Okamura, IMF’s Deputy Director General, made the commitment at the State House yesterday March 15, 2023 after an audience granted him on behalf of the President of the Republic of Cameroon by the Minister of State, Secretary General at the Presidency of the Republic, Ferdinand Ngoh Ngoh. 
The audience served as an opportunity for Cameroon and the IMF to evaluate their cooperation especially the joint Extended Credit Facility Programme which Cameroon completed recently with the international organisation. In effect, the Board of Directors of the IMF, a few days ago approved the disbursement of about FCFA 45 billion for Cameroon; which represents the third phase of the programme. “I just reported that the Cameroon’s programme supported by the IMF has been successfully completed. This is as a result of good partnership between Cameroon and the IMF. The programme, following a very recent review, is firmly on tract and significant progress has been made,” he said. 
Given that the international shocks that pushed Cameroon to embrace the IMF Credit Facility Programme are yet to stabilise, yesterday’s audience also served as an occasion for the two officials to project into the future. “Cameroon and the IMF are commonly facing some challenges owing to global shocks. That is why we discussed the need for strengthened cooperation between Cameroon and the IMF so as to see how to tackle the challenges. We need to diversify our growth in order to keep Cameroon’s economy resilient in the face of these global challenges,” the visiting IMF top official told the pr...