Cameroon:Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Requests for Extension of Arrangement, Waiver of Performance Criterion, and Extension of Interim Assistance Under the Enhanced Initiative for

Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, and Requests for Extension of Arrangement, Waiver of Performance Criterion, and Extension of Interim Assistance Under the Enhanced Initiative for Heavily Indebted Poor Countries

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 401

Publication date: December 2003

ISBN: 9781451808117

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Topics covered in this book

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Economics- Macroeconomics , Money and Monetary Policy , Public Finance , International - Economics , Public Policy - Social Services and Welfare , oil revenue collection , poverty reduction objective , larger-than-projected oil price , revenue performance , PRGF arrangement , draft Budget Appropriations Act , Poverty reduction strategy , Poverty reduction , Budget classification , Budget planning and preparation , Africa , restructuring expenditure , government expenditure program , Poverty reduction and development

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Summary

Overall, the program's macroeconomic targets have been broadly met. The program embodies a renewed emphasis on the non-oil revenue mobilization effort and continuation of a prudent expenditure stance. Reversing the deterioration of the financial operations of the public companies and the utilities is critical. The key objective is strengthening fiscal transparency. Executive Directors welcome the government’s commitment to move forward with the implementation of structural reforms. Close and sustained monitoring, and enhanced coordination within the government, will be critical to the successful implementation of the program.