Friday, 16 November 2012

IMF evaluates Cameroon's economy

An International Monetary Fund (IMF) delegation met top government officials on Monday 12 November to review the country's economic evolution. Led by its mission head, Mario de Zamaroczy, the delegation comes six months after the last visit during which the IMF made various propositions: asking Cameroon to adjust some aspects of its economic policies to ensure growth. The members met Minister of Finance Alamine Ousmane Mey and Minister of Economy, Planning and Regional Planning Emmanuel Nganou Djoumessi.
During the next two weeks, the IMF will examine the execution of Cameroon's 2012 state budget for the period January to October. It will also examine the prospects of the country's 2013 budget, the balance of payments, the banking and financial sectors, the state of the economy and what the government has done to improve on it.
After his meeting with the ministers, Zamaroczy told reporters: “The cluster of propositions we made during our last visit to the government was aimed at seeing how the government was progressing with economic growth, pare down the financial sector, increase returns and better manage spending.” According to Ousamane Mey, the economy “is on a good footing”, growth was above 5% and inflation has stabilised at below 3%.
For more news and expert analysis about Cameroon, please see Cameroon Politics & Security.
© 2012 Menas Associates

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