IMF and Cameroon agree to extend Economic Program until 2025

On November 17, 2023, the International Monetary Fund (IMF) announced it has reached a staff-level agreement with Cameroon to extend the existing three-year economic and financial program (July 2021 – July 2024) for 12 months until July 2025. This program, initiated in July 2021, aims to support Cameroon’s economic and financial reforms over the specified period. The reasons for this extension have not been unveiled by the IMF, but approval by the institution’s Board is awaited. A reliable source reported that “Cameroon has chosen to remain under the IMF program to continue benefiting from budgetary support.” The end of this…