Cameroon

Publication Date:

November 9, 2020

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Since the approval of the first Rapid Credit Facility (RCF-1) request on May 4, 2020 (IMF Country Report No 20/185), weaker external demand in major trading partners (China and Europe) and a more pronounced impact of containment measures to slow the rising number of COVID-19 cases, have further deteriorated growth prospects and worsened Cameroon’s external and fiscal positions. Given limited fiscal buffers and urgent balance of payments needs due to the pandemic, the authorities allowed the current ECF arrangement expire at end-September, reiterated their interest on a successor arrangement, and in the meantime requested financial assistance under the “exogenous shocks window” of the RCF equivalent to 40 percent of quota (SDR 110.4 million). This additional request will bring the total disbursement under the RCF to 100 percent of quota in 2020.

Series:

Country Report No. 2020/294

Frequency:

regular

English

Publication Date:

November 9, 2020

ISBN/ISSN:

9781513560304/1934-7685

Stock No:

1CMREA2020003

Pages:

49

Please address any questions about this title to publications@imf.org