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Cameroon: IMF approves 5th disbursement of 44 Billion CFA frs to government

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The Board of directors of the International Monetary Fund have validated the disbursement of an additional 44 Billion CFA frs budgetary support fund to the government of Cameroon.

The information is contained in a communique published yesterday by finance Minister Louis Paul Motaze.

According to the communique, the board of directors of the International Monetary fund IMF in a session that held Wednesday in Washington, favourably concluded the fourth review of the economic and financial program supported by the extended credit facility dubbed ECF.

This review approves the disbursement of additional 44 Billion CFA frs in favour of Cameroon. With this budgetary support fund, the overall aid from the IMF to Cameroon since the beginning of the programme in June 2019 stands at almost 296 CFA frs.

The communique further says that the funding will amongst others reinforce the country’s credibility vis a vis its technical and financial partners.

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