On Monday, the International Monetary Fund (IMF) and Cameroon agreed on a staff-level deal that will result in the country being granted access to approximately $74.6 million after the Board concludes its review.
The agreement was reached after an International Monetary Fund mission visited Cameroon earlier in the month, and virtual meetings were held to evaluate progress on reforms and policy priorities as part of the third review of the program supported by the Extended Credit Facility and Extended Fund Facility arrangements.
The mission has reached staff-level agreement with the Cameroonian authorities on the economic and financial policies that could support the approval of the third review of the program.
IMF mission chief for Cameroon – Cemile Sancak
The IMF Executive Board’s third review outcome, due in early March 2023, will pave the way for the disbursement of 55.2 million SDRs (approx. $74.6 million).
Moreover, the economy of Cameroon grew by an estimated 3.4% in 2022, improving from 3.6% in 2021 and is predicted to reach 4.3% growth in 2023.
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