Cameroon ends IMF programme
The government of Cameroon has ended an economic programme designed by the International Monetary Fund (IMF) and drafted its own instead. It marks the end of a three year Poverty Reduction and Growth Facility (PRGF) between Cameroon and the IMF.
The Minister of Finance, Essimi Menye told journalists at a press conference the Cameroonian plan was tailored to meet realities. The IMF representative in Cameroon, Malangu Kabedi-Mbuyi commended the government for their efforts but said further efforts were needed to restore the economy. She said declining oil prices and the global economic downturn meant Cameroon's ability to generate income from sources other than oil will be crucial.
Source: Panos London
