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World Bank urges Cameroon to be rigorous in financial management

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The World Bank has called on Camroonian authorities to be more rigourous in their management of financial resources.

The warning is contained in a damning report in which the World Bank said over 2000 billion CFA francs or 52 percent of the  budget was consumed to the functioning of the state in 2017 in Cameroon.

According to the World Bank, the money was used in “the organization of seminars, the payment of bonuses and gratuities, mission and representation expenses.”

The report cited as example that “35.5 billion CFA francs were spent on fuel and 42 billion CFA francs on bonuses and gratuities.”

The World Bank said these expenditures are the root causes of corruption and other bad governance practices plaguing the Cameroonian administration.

Cameroonian authorities were thus urged to reduce state spending by shortening operating expenses and augment public investment.

 

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