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Budget support: the IMF grants an amount of around 46 billion CFA francs to Cameroon

13/03/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The Cameroonian Ministry of Finance announced on Thursday, March 9, 2023 in a press release that the Executive Board of the International Monetary Fund (IMF) has granted an amount of approximately 46 billion FCFA (approximately 74 million US dollars) to Cameroon. This financing is provided for budget support under the Extended Credit Facility (ECF) and the Extended Credit Facility (MEDC).

The amount of 74 million US dollars granted to Cameroon by the IMF is part of the three-year economic and financial program (2021—2024) between the parties, approved at the end of July 2021 and marked by budgetary support of a total amount of approximately 375 billion CFA francs (about 604 million dollars), gradually disbursed as the various reviews of the program are approved. This economic and financial program will allow Cameroon to receive 625 billion CFA francs (more than one billion dollars) in support from l'Agence française de développement (AFD), the Union européenne (UE) , or African Development Bank (BAD), except the IMF.

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