IMF Reaches Staff Agreement With Cameroon That Could Unlock $73.6 Million

WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday its staff had reached an agreement with Cameroon on the second review of its loan programs that could lead to the disbursement of $73.6 million if approved by the Fund’s Executive Board.

The Fund said Cameroon’s economic outlook remains positive, with growth of 3.8% expected for 2022, but uncertainties are rising due to sharp increases in prices for oil, fertilizer and foodstuffs driven by the war in Ukraine.

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4 comments

  1. there is no country that has industrialized with the imf.

  2. Ok…… petrol producing country has only 3.8% growth ,while price of petrols doubled ? Humm is that one of those 30 year price capped ( at a very low price ,lower than the country’s refining costs ?) agreements .With 40% of everything stuck in the french / Europe treasury no wander we get credit like this ,it would be nicer to get the actual interest,since the rate is climbing instead ..

    • PHYRNE,,,,,do you know any country that produce only raw materials that can sustain even 10% growth for ten years?economic development is the creation of added value.saudi arabia has oil money but economically it can not match little singapore.25% of singapores economy is manufacturing.
      no manufacturing no economic growth.
      as for the currency issue no strong industry no chance to break from bondage.

  3. For ever young

    The war in Ukraine stop Cameroonians from growing foodstuffs, or having an agricultural production plan to feed their people , Zambia president came out last month said our country can feed its people no problem but Cameroon with thousands of acres arable landscape cannot feed its people , is an oil producing country since 1977 but cannot use the proceeds of oil to increase its refining capacity when crude oil was selling higher in the market, why can’t the country build its own fertilizer industry since their economic is dependent on raw materials from the primary sector, look at Nigeria is doing partnership with Aliko fertilizer plant to supply their farmers with cheap fertilizer to grow foodstuffs internally, unlike the corrupt government of Dictatorship Paul Biya only borrowed money