2024 IMF/ World Bank Group Fall Meetings : Cameroon's Resilience Saluted, More Support Promised

The traditional fall meetings which kicked off on Monday, October 21, 2024, ended on Saturday, October 26, 2024, as the two institutions celebrate 80 years of international cooperation. Much of the efforts during this year's meetings were laid on seeking ways of reviving a restrained global inflation, reduce high debt levels, and enhance collaboration to support a sustainable global economic growth. Cameroon's delegation to the Meetings was led by the Minister of the Economy, Planning and Regional Development, Alamine Ousmane Mey. The Minister and his Delegation held frank and fruitful discussions with IMF and World Bank Group's experts, to examine and seek ways of improving Cameroon's economic growth in the face of current national and international challenges. Minister Usmane Mey said: “We had great discussions and good conclusions… and we are proud to say that with regard to cooperation with our partners, it has been impactful, as they accompany us in different reforms to achieve our developmental goals”. Minister Mey also seized the opportunity to express Cameroon’s immense gratitude to its partners and reiterated Government's unwavering commitment to continue collaborating with the Bretton Woods Institutions in seeking more collegial ways of enhancing the country's economic growth. 
Nactigal Hydro-Electrical Project: A Veritable Energy Hub in Sub-Saharan Africa Discussions during the Meetings also dwelt on the significant progress made so far in infrastructural development like the Bamenda – Babadjou road and the Nachtigal Hydropower project. The Bretton Woods Institutions applauded Cameroon for the tremendous strides the country has taken to ensure the completion of the projects. Going further, they expressed their wish to see the full commissioning of the Nachtigal Hydro-Power project with a 420 megawatt electricity generating capacity, so as to lay to rest the energy deficit in Cameroon and equally to neighboring countries. The project is expected to provide reliable and clean energy to millions of households, create millions of jobs and significantly accelerate growth in the country's industrial sector. Cameroon's huge energy potential is also going to add more impetus to a bold and an ambitious African Project known as "Mission 300" which is expected to make electricity accessible to some 300 million people by 2030 in Africa. Minister Mey had this to say: "Cameroon is about to play an important role in the sub region. We want to be the electricity hub of the sub region… in line with President Paul Biya’s 2035 goals to become an emergent country”. Cameroon’s energy contributions to “Mission 300" will certainly boost several economies, strengthen regional cooperation and, invariably, alleviate poverty. Thus, a lot of attention is now focused on Cameroon, as a veritable powerhouse with a huge diversified and renewable ...