Cameroon Requests For Three Year Arrangements Under The Extended Credit Facility And The Extended Fund Facility Press Release Staff Report Staff Statement And Statement By The Executive Director For Cameroon

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 123 pages
File Size : 46,5 Mb
Release : 2021-08-10
Category : Business & Economics
ISBN : 9781513594002

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Cameroon: Requests for Three-Year Arrangements Under the Extended Credit Facility and the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon by International Monetary,International Monetary Fund. African Dept. Pdf

Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), continues to face the repercussions of the COVID-19 pandemic. Since the onset of the pandemic, the IMF’s Executive Board has approved two disbursements under the Rapid Credit Facility (RCF) totaling SDR 276 million, about US$ 382 million or 100 percent of Cameroon’s quota. Cameroon’s last arrangement under the Extended Credit Facility (ECF) ended in September 2020, without completion of the sixth and final review. The authorities have requested new arrangements from the IMF to help maintain external sustainability, implement their ambitious reform agenda—laid out in the National Development Strategy for 2020-30 (SND30)—and catalyze financial support from other donors.

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 134 pages
File Size : 54,5 Mb
Release : 2022-04-29
Category : Business & Economics
ISBN : 9798400207259

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Cameroon: Requests for Three-Year Arrangements Under the Extended Credit Facility and the Extended Fund Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Cameroon by International Monetary,International Monetary Fund. African Dept. Pdf

Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), continues to face the repercussions of the COVID-19 pandemic. Since the onset of the pandemic, the IMF’s Executive Board has approved two disbursements under the Rapid Credit Facility (RCF) totaling SDR 276 million, about US$ 382 million or 100 percent of Cameroon’s quota. Cameroon’s last arrangement under the Extended Credit Facility (ECF) ended in September 2020, without completion of the sixth and final review. The authorities have requested new arrangements from the IMF to help maintain external sustainability, implement their ambitious reform agenda—laid out in the National Development Strategy for 2020-30 (SND30)—and catalyze financial support from other donors.

Author : International Monetary
Publisher : International Monetary Fund
Page : 114 pages
File Size : 54,5 Mb
Release : 2023-03-20
Category : Electronic
ISBN : 9798400237577

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Cameroon by International Monetary Pdf

Cameroon: Third Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Waivers for Performance Criteria Applicability, Nonobservance of Performance Criteria and Modification of Performance Criteria-Press Release; Staff Report

Author : International Monetary Fund. African Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 129 pages
File Size : 41,6 Mb
Release : 2022-08-04
Category : Business & Economics
ISBN : 9798400217388

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Cameroon by International Monetary Fund. African Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

Following two years of COVID-19 challenges, Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), is facing a new policy environment. The nascent economic recovery from mid-2021, supported by higher oil prices and non-oil production, is now subject to greater uncertainties with spillovers from the war in Ukraine, high inflationary pressures, especially on food and fuel prices, and a tightening of global financial conditions. Low vaccination rates also leave the country vulnerable to further COVID-19 waves. In July 2021, the IMF’s Executive Board approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for SDR 483 million (about US$689.5 million, or 175 percent of Cameroon’s quota) to support the country’s economic and financial reform program.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 128 pages
File Size : 49,5 Mb
Release : 2017-07-05
Category : Business & Economics
ISBN : 9781484307328

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Cameroon by International Monetary Fund. African Dept. Pdf

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.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 43,9 Mb
Release : 2024-06-28
Category : Electronic
ISBN : OCLC:1323249801

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Cameroon by Anonim Pdf

Author : International Monetary Fund. African Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 141 pages
File Size : 40,8 Mb
Release : 2022-12-05
Category : Business & Economics
ISBN : 9798400227264

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Cameroon by International Monetary Fund. African Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

Following two years of COVID-19 challenges, Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), is facing a new policy environment. The nascent economic recovery from mid-2021, supported by higher oil prices and non-oil production, is now subject to greater uncertainties with spillovers from the war in Ukraine, high inflationary pressures, especially on food and fuel prices, and a tightening of global financial conditions. Low vaccination rates also leave the country vulnerable to further COVID-19 waves. In July 2021, the IMF’s Executive Board approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for SDR 483 million (about US$689.5 million, or 175 percent of Cameroon’s quota) to support the country’s economic and financial reform program.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 84 pages
File Size : 42,9 Mb
Release : 2023-07-10
Category : Business & Economics
ISBN : 9798400246210

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Cameroon by International Monetary Fund. African Dept. Pdf

Cameroon’s recovery has continued, despite security concerns and external risks, including tight global financial conditions and increased oil price volatility. Cameroon is a fragile and conflict affected state, with drivers of fragility ranging from insurgency and conflicts along its borders and in neighboring countries, to poor governance, social exclusion, and climate change. Nevertheless, economic prospects remain positive in the medium term, provided reforms continue, and the external environment is supportive. The three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) approved in July 2021 amount to SDR (Special Drawing Rights) 483 million (about US$689.5 million, or 175 percent of quota). Completion of the fourth review will allow a disbursement of SDR 55.2 million (about US$73.3 million).

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 123 pages
File Size : 45,9 Mb
Release : 2023-03-20
Category : Business & Economics
ISBN : 9798400249228

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Cameroon by International Monetary Fund. African Dept. Pdf

Cameroon, a fragile and conflict affected state, proved resilient to the COVID- 19 shock but is now facing increased challenges in an uncertain global environment. The recovery, which was supported by higher oil prices and non-oil production in 2021, continued in 2022, against the backdrop of Russia’s war in Ukraine, inflationary pressures, supply chain disruptions, and tight global financial conditions. Cameroon has successfully completed two reviews since the approval in July 2021 of the three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for SDR 483 million (about US$689.5 million, or 175 percent of quota). Completion of the third review will allow the total disbursement of SDR 55.2 million (about US$73.3 million).

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 163 pages
File Size : 52,9 Mb
Release : 2022-09-23
Category : Business & Economics
ISBN : 9798400223549

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Cameroon: 2021 Article IV Consultation and First Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements and Requests for Waivers for Performance Criteria Applicability and Nonobservance and Modification Of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Cameroon by International Monetary,International Monetary Fund. African Dept. Pdf

Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), continues to face the repercussions of the COVID-19 pandemic. In July 2021, the IMF’s Executive Board approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for SDR 483 million (about US$ 689.5 million, or 175 percent of Cameroon’s quota) to support the country’s economic and financial reform program. This followed two disbursements in 2020 under the Rapid Credit Facility (RCF) totaling SDR 276 million, equivalent to about US$382 million or 100 percent of Cameroon’s quota.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 114 pages
File Size : 46,8 Mb
Release : 2020-02-18
Category : Business & Economics
ISBN : 9781513530383

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Cameroon by International Monetary Fund. African Dept. Pdf

This paper discusses Cameroon’s Fifth Review Under the Extended Credit Facility Arrangement and Request for a Waiver of NonObservance of a Performance Criterion and Modification of Performance Criteria (PC). Growth reached 3.9 percent in the first half of 2019, supported by a rebound in the oil and gas sector. The overall fiscal deficit was 1.4 percent of GDP for the first three quarters of 2019, slightly better than the program’s projection. External buffers are being rebuilt, despite external and domestic headwinds. The economy is coping with the impact of the suspension of production at the national oil refinery (SONARA). Program implementation over the first nine months of 2019 was mixed and faces challenges. The continuous PC on external arrears accumulation and three September ITs were also missed. Structural reforms are advancing but with delays. The IMF staff supports the authorities’ requests for completion of the fifth review, a waiver of nonobservance of one continuous performance criterion and modification of one December 2019 and one 2020 performance criterion.

Author : International Monetary,International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 148 pages
File Size : 55,6 Mb
Release : 2022-03-11
Category : Business & Economics
ISBN : 9798400203985

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Cameroon: 2021 Article IV Consultation and First Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements and Requests for Waivers for Performance Criteria Applicability and Nonobservance and Modification Of Performance Criterion-Press Release; Staff Report; and Statement by the Executive Director for Cameroon by International Monetary,International Monetary Fund. African Dept. Pdf

Cameroon, the largest economy in the Central African Economic and Monetary Union (CEMAC), continues to face the repercussions of the COVID-19 pandemic. In July 2021, the IMF’s Executive Board approved three-year arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) for SDR 483 million (about US$ 689.5 million, or 175 percent of Cameroon’s quota) to support the country’s economic and financial reform program. This followed two disbursements in 2020 under the Rapid Credit Facility (RCF) totaling SDR 276 million, equivalent to about US$382 million or 100 percent of Cameroon’s quota.

Author : International Monetary Fund. African Department
Publisher : International Monetary Fund
Page : 95 pages
File Size : 43,9 Mb
Release : 2018
Category : Electronic
ISBN : 9781484337585

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Cameroon by International Monetary Fund. African Department Pdf

Cameroon's performance under the three-year ECF-supported program approved in June has been satisfactory, with the fiscal and external adjustments contributing to the rebuilding of buffers. Growth in 2017-18 is expected to be somewhat weaker than anticipated in the program, declining to 3.7 percent in 2017 owing to lower oil production and tepid demand, with a recovery to 4.2 percent in 2018. The medium-term outlook remains positive, boosted by the coming on stream of large energy and transport infrastructure projects.

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 84 pages
File Size : 42,8 Mb
Release : 2020-08-05
Category : Business & Economics
ISBN : 9781513552606

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Cameroon by International Monetary Fund. African Dept. Pdf

This paper discusses Cameroon’s Fifth Review Under the Extended Credit Facility Arrangement and Request for a Waiver of NonObservance of a Performance Criterion and Modification of Performance Criteria (PC). Growth reached 3.9 percent in the first half of 2019, supported by a rebound in the oil and gas sector. The overall fiscal deficit was 1.4 percent of GDP for the first three quarters of 2019, slightly better than the program’s projection. External buffers are being rebuilt, despite external and domestic headwinds. The economy is coping with the impact of the suspension of production at the national oil refinery (SONARA). Program implementation over the first nine months of 2019 was mixed and faces challenges. The continuous PC on external arrears accumulation and three September ITs were also missed. Structural reforms are advancing but with delays. The IMF staff supports the authorities’ requests for completion of the fifth review, a waiver of nonobservance of one continuous performance criterion and modification of one December 2019 and one 2020 performance criterion.

Author : Gregory Smith
Publisher : Oxford University Press
Page : 230 pages
File Size : 44,8 Mb
Release : 2021-12-01
Category : Business & Economics
ISBN : 9780197644218

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Where Credit is Due by Gregory Smith Pdf

Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.