Cameroon reaches a staff-level agreement with the IMF for it

Cameroon reaches a staff-level agreement with the IMF for its new economic program


(Business in Cameroon) - On May 27, 2021, the IMF staff announced that they have reached an agreement with the Cameroonian government concerning the 3-year economic and financial program that will replace the one that ended in September 2020. “
IMF staff completed policy discussions with the authorities on a new 36-month program that could be supported by IMF resources under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF),” the Bretton Woods institution wrote in an official release.
Cameroon has not yet fulfilled all the transparency commitments made in the framework of the Extended Credit Facility (ECF), thanks to which it received a XAF224 billion support to fight the coronavirus and its economic fallouts. For instance, the audit report on the management of Covid-19 is yet to be published. So, this release surprised several people.

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