Cameroon: 2023 Article IV Consultation, Fifth Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Extension and Augmentation of Access, a Waiver of Nonobservance of Performance Criterion, and Modification of a Performance Criterion-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon

International Monetary Fund

No 2024/051, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper discusses Cameroon’s 2023 Article IV Consultation, Fifth Reviews under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Extension and Augmentation of Access, a Waiver of Nonobservance of Performance Criterion, and Modification of a Performance Criterion. Cameroon has remained resilient in the face of successive shocks. Real gross domestic product growth reached 3.6 percent in 2022 and is expected to accelerate to around 4 percent in 2023. Inflation is expected to decelerate from 7.3 percent at end-2022 to 6.2 percent by end 2023. The authorities are committed to maintaining a fiscal consolidation path consistent with program objectives. Cameroon’s economic reform program is broadly on track. Sustaining broad-based reform efforts will be key to create additional fiscal space, maintain debt sustainability, foster structural transformation, and boost growth and resilience. Integrating climate agenda in institutional and budget frameworks will be needed to advance adaptation and mitigation efforts.

Keywords: governance weakness; governance vulnerability; staff appraisal; corruption policy; EFF arrangement; government priority; Debt sustainability; Global; Africa; Central Africa (search for similar items in EconPapers)
Pages: 155
Date: 2024-02-20
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