Cameroon : Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon

Author/Editor:

International Monetary Fund. African Dept.

Publication Date:

July 5, 2017

Electronic Access:

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Summary:

Cameroon’s reform strategy is embedded in the coordinated regional approach outlined at the Yaoundé Heads of States summit in December 2016, during which the Cameroonian authorities spearheaded a coordinated response to maintain regional external stability as well as the integrity of the monetary arrangement. In that context, Cameroon’s ECF-supported program aims to restore the country’s fiscal and external sustainability and unlock job-rich, private sector-driven growth. The program rests on three main pillars: i) frontloaded fiscal consolidation to strengthen fiscal and external buffers, while protecting social spending and social safety nets; ii) structural fiscal reforms to expand the non-oil revenue base, improve the efficiency of public investment and the quality of budgetary system, and mitigate fiscal risks from contingent liabilities; iii) reforms to accelerate private sector-led economic diversification and boost the resilience of the financial sector.

Series:

Country Report No. 17/185

Subject:

English

Publication Date:

July 5, 2017

ISBN/ISSN:

9781484307328/1934-7685

Stock No:

1CMREA2017001

Format:

Paper

Pages:

128

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