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IMF, WB joint review mission underway in Yaounde

A joint review mission of the International Monetary Fund (IMF) and the World Bank (WB) which arrived in Cameroon earlier this week is already underway at the Economy and Territorial Planning ministry (MINEPAT).

Led by Alamine Ousmane Mey, the experts from the Bretton Woods institutions held talks on the financing of investment schemes likely to bring about a sustained and inclusive growth, the quality of the expenditure and portfolios of projects as well as concessional external borrowing.

Following up on sums not disbursed yet, the Cameroonian minister indicated that his office had initiated a review of all projects with slow or low disbursement, with a view to deciding on maintaining them.

This approach, Ousmane Mey said, is conducted in partnership with the two international financial institutions so as to ensure the sustainability of the public debt and the viability of the Cameroonian economy.

More specifically, this mission, due to end on 14 May, intends to discuss the country’s economic performance at the end of December 2017, in order to set the objectives for the end of 2018 in relation to the Extended Credit Facility (ECF) approved in June 2017 to the tune of CFA 227.646 billion.

Should their joint mission be successful, Cameroon hopes to see its case raised at the meeting of the IMF Board of Directors scheduled for late June.

The ECF is expected to stabilize Cameroon’s macroeconomic framework in the medium term.

Source: APA

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