Cameroon: Request for a Three-Year Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon
July 5, 2017
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This paper discusses Cameroon’s Request for a Three-Year Arrangement Under the Extended Credit Facility (ECF). Cameroon has been hit by significant export price declines and security threats since 2014. Oil revenue declined and security and humanitarian spending increased, while large infrastructure programs continued, leading to widening fiscal and current account deficits, rapidly accumulating external debt and a decline in imputed reserves. The Cameroonian authorities are requesting a three-year program under the ECF in the amount of SDR 483 million to restore external and fiscal sustainability, and lay the foundations for sustainable, private-sector led growth. The IMF staff supports the authorities’ request for an ECF-supported program.
Subject: Debt sustainability analysis, External debt, Fiscal consolidation, Fiscal policy, Fiscal stance, Public debt, Public financial management (PFM)
Keywords: Africa, Cameroon, Cameroonian economy, CR, debt, Debt sustainability analysis, ECF-supported program, emergency liquidity support instrument, Europe, Fiscal stance, Global, government, IMF quota, ISCR, Middle East, petroleum revenue, real GDP, reform strategy, Sub-Saharan Africa
Pages:
128
Volume:
2017
DOI:
Issue:
185
Series:
Country Report No. 2017/185
Stock No:
1CMREA2017001
ISBN:
9781484307328
ISSN:
1934-7685
