Cameroon: Requests for Disbursement Under the Rapid Credit Facility, Extension of the Extended Credit Facility Arrangement, and Rephasing of Access-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon
IMF Staff Country Reports, June 4, 2020
Source details
- Canonical URL
- Cameroon: Requests for Disbursement Under the Rapid Credit Facility, Extension of the Extended Credit Facility Arrangement, and Rephasing of Access-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon
Other formats
Bibliographic details
- Published: June 4, 2020
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513546339.002
Context and Purpose
- Focus: Cameroon’s Requests for Disbursement Under the Rapid Credit Facility (RCF), Extension of the Extended Credit Facility (ECF) Arrangement, and Rephasing of Access.
- Date: June 4, 2020.
- Publication: IMF Staff Country Reports, Country Report No. 2020/185, Issue 185, Pages: 42.
- Identifiers: DOI: https://doi.org/10.5089/9781513546339.002; ISBN: 9781513546339; ISSN: 1934-7685; Stock No: 1CMREA2020002.
Economic shock and impact
- The outbreak of the coronavirus disease 2019 pandemic and the terms of trade shocks from the sharp fall in oil prices are having a significant impact on Cameroon’s economy.
- Result: A historic fall of real gross domestic product growth.
- The authorities are taking decisive actions to limit the spread of the virus and its economic and social impact.
Policy response and measures
- Implemented measures:
- Strong crisis containment and mitigation measures.
- Scaling up spending to bolster the health response.
- Measures under consideration:
- Additional actions to provide support to vulnerable households and firms.
IMF financing and external assistance
- IMF emergency financing under the RCF will support the government’s efforts to mitigate the impact of the twin shocks.
- Additional assistance from development partners will be critical to fill the remaining financing need.
Governance, fiscal and transparency requirements
- Strict budgetary controls and transparency will be needed to ensure that the assistance under the RCF meets its intended objectives.
Thematic subjects and keywords
- Subjects: Arrears, COVID-19, Credit, Debt sustainability analysis, External debt, Fiscal policy, Fiscal stance, Health, Money, Public debt.
- Keywords: arrears policy, COVID-19, CR, Credit, Debt sustainability analysis, external arrears, financing, Fiscal stance, Global, IMF lending tracker, ISCR, staff appraisal, staff representative, terms of trade shock.
International Monetary Fund. African Dept. "Cameroon: Requests for Disbursement Under the Rapid Credit Facility, Extension of the Extended Credit Facility Arrangement, and Rephasing of Access-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon", IMF Staff Country Reports 2020, 185 (2020).
Content in this bundle
- 1cmrea2020002