Business in Cameroon | In Cameroon, unforeseen expenses caused by the current security crisis could climb to CFA24 billion in 2018. This was revealed by the International Monetary Fund (IMF) in a report issued August 31.
According to the report, the situation led the Cameroonian authorities to propose last June a revised budgetary consolidation. A strategy which is seen as a step forward since the Bretton Woods institution repeatedly warned the country on budgeting unforeseen expenses related to security, as part of the economic agreement ongoing since June 2017.
Cameroon faces various security risks, the major being the crisis in Anglophone (North-West and South-West) regions, which has significantly grown in recent months. The unrest in these regions rose concerns about the whole country’s stability, and increased humanitarian and economic costs. In May this year, the government decided a CFA12-billion budget for the humanitarian assistance plan.
Let’s note that in the Far North, the terrorist group Boko Haram continues exactions against military and civilians, but incidents remain limited, while in the East, the large number of refugees is causing an instability issue.