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Security situation, organization of elections and CAN 2019: Cameroon will not miss, in the coming months, "exceptional" budget items. In response, the IMF calls for increased vigilance on spending and the pursuit of reforms, including transparency and taxation.
IMF Executive Board approved disbursement of $ 77.8 million (66.6 million euros) for Cameroon on July 6.
This is the second disbursement validated by the International Financial Organization in the $ 666.2 million loan it received under the "Extended Credit Facility" on June 26, 2017 – $ 171.3 million was disbursed immediately. [19659003] Mitsuhiro Furusawa, deputy director general of the IMF, underlines the implementation of "generally satisfactory" structural reforms (business climate, taxation, etc.), both at the national and regional levels, and a strong collection of non-oil revenues, directors deplore a "slippage" of public spending at the end of 2017.
The CAN, an engine of growth
They call therefore for vigilance for the year 2018, especially because of the pressure on the expenses that the organization of the elections will represent (after the senatoriales of last March, the legislative and municipal elections initially planned for the end of the year 2018 were postponed by a year, but the presidential election is expected to take place in 2018) and CAN 2019, as well as the security situation. Given this context, the financial institution advocates saving any additional oil revenue that the country could save.
As usual, the IMF is concerned about the risk of a debt explosion and recommends "limiting the new loans while orienting their composition towards concessional loans. "
While the NAC is a major budget item in the short term, the IMF also sees it as a major growth engine because of the construction activities it generates. . This factor, along with the start of domestic gas production and improved energy supply, would restore a growth rate of 4% – it had fallen to 3.2% in 2017, following the oil production of the country.
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