Cameroon reaches staff-level agreement with the IMF for FCFA45bn disbursement

The International Monetary Fund announced in a May 19 statement it has reached a staff-level agreement with Cameroonian authorities following the fourth review of the 2021-24 Extended Credit Facility and the Extended Fund Facility agreements signed with the country. If this agreement is validated, Cameroon will receive $73.8 million (about FCFA44.9 billion) from the IMF to carry out development projects. The new disbursement will bring the IMF active portfolio, as part of these arrangements, to $624.9 million, or about FCFA380.4 billion. The fourth review mission led by Cemile Sancak between May 4 and 17 expressed overall satisfaction with the country’s…