Cameroon: Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Financing Assurances Review, and Requests for Waiver of Performance Criterion, Modification of Performance Criteria and Extension of Arrangement:

Fifth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Financing Assurances Review, and Requests for Waiver of Performance Criterion, Modification of Performance Criteria and Extension of Arrangement: Staff Report; Staff Supplement and Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Cameroon

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 279

Publication date: August 2008

ISBN: 9781451808278

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , food price index , government , debt , staff appraisal , privatization program , priority spending , PRGF loan , government-private sector , Fiscal sustainability , Fuel prices , Global , Sub-Saharan Africa

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Summary

This paper discusses key findings of the Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) for Cameroon. Non-oil economic activity accelerated somewhat in 2007, and inflation declined. However, rising food and fuel prices starting in late 2007, amidst discussions of possible changes to the constitution, led to violent social unrest in February 2008. Program implementation was satisfactory in the second half of 2007. Most quantitative targets, notably on the non-oil primary fiscal deficit, for end-December 2007, were also met.