Cameroon: First Review Under the Extended Credit Facility Arrangement Requests for Waiver of Nonobservance of a Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; Supplementary Information; and Statement by the Executive Director for Cameroon

International Monetary Fund

No 2018/009, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Cameroon’s First Review Under the Extended Credit Facility (ECF) Arrangement, Requests for Waiver of Nonobservance of a Performance Criterion (PC) and Modification of PCs. Cameroon’s performance under the three-year ECF-supported program approved in June has been satisfactory, with the fiscal and external adjustments contributing to the rebuilding of buffers. Growth in 2017–18 is expected to be somewhat weaker than anticipated in the program, declining to 3.7 percent in 2017 owing to lower oil production and tepid demand, with a recovery to 4.2 percent in 2018. The medium-term outlook remains positive, boosted by the coming on stream of large energy and transport infrastructure projects.

Keywords: ISCR; CR; disbursement; financing; executive board discussion; authority; end-September IT; disbursement of SDR; arrangement under the Extended Credit Facility; program forecast; Budget planning and preparation; Fiscal consolidation; Fiscal stance; Global; Africa; Middle East; Europe; Asia and Pacific (search for similar items in EconPapers)
Pages: 88
Date: 2018-01-16
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