GICAM recommends import restriction as solution to currency crisis

By NDIMUH B. SHANCHO The Inter Patronal Groupings of Cameroon, GICAM, has recommended the temporary suspension of the importation of certain goods and the prioritizing of payment for the importation of essential products and services as well as strategic sectors, as some urgent measures to resolve the currency crisis plaguing the economy of Cameroon for several months now. In an official communiqué published recently, the President of GICAM, Celestin Tawamba, said the currency shortage is “unprecedented” and has induced a considerable decline in the importation of inputs, production equipment and maintenance tools by local firms. According to him, the currency…