Cameroon: 2023 Article IV Consultation, Fifth Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Extension and Augmentation of Access, a Waiver of Nonobservance of Performance Criterion, and Modification of a Performance Criterion-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon
IMF Staff Country Reports, February 20, 2024
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- Cameroon: 2023 Article IV Consultation, Fifth Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Extension and Augmentation of Access, a Waiver of Nonobservance of Performance Criterion, and Modification of a Performance Criterion-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon
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Bibliographic details
- Published: February 20, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400268229.002
Overview and macroeconomic performance
- Cameroon remained resilient in the face of successive shocks.
- Real gross domestic product growth reached 3.6 percent in 2022 and is expected to accelerate to around 4 percent in 2023.
- Inflation is expected to decelerate from 7.3 percent at end-2022 to 6.2 percent by end 2023.
Program status and fiscal stance
- The authorities are committed to maintaining a fiscal consolidation path consistent with program objectives.
- Cameroon’s economic reform program is broadly on track.
Key policy priorities and recommendations
- Sustaining broad-based reform efforts will be key to:
- create additional fiscal space,
- maintain debt sustainability,
- foster structural transformation, and
- boost growth and resilience.
- Integrating the climate agenda in institutional and budget frameworks will be needed to advance adaptation and mitigation efforts.
Thematic coverage and subjects
- Debt sustainability
- External debt
- International organization
- Monetary policy
- Public debt
- Public financial management (PFM)
- Revenue administration
Content in this bundle
- 1cmrea2024001