The International Monetary Fund provided an urgent payment of $73.8 million to Cameroon within the scope of the loan given in 2021. In this respect he is writing TASS, referring to the IMF message.
Considering this payment, Cameroon will receive $571.9 million of the required $689.5 million. The Fund also decided to provide the African country with an additional financing of $147.6 million to the initial loan amount and to extend the maturity of the credit limit by one year until July. 28, 2025.
IMF Deputy Managing Director Kenji Okamura announced that the fund’s financial support will allow Cameroon to continue the reform policies planned under the program. “Cameroon’s economic reform program is generally on the right track.
However, the IMF insists that Cameroon resolve the issue of dependence of its banking system on the public sector. Okamura believes the country needs to take more measures to improve the business environment. The vice president of the fund concluded that this would be possible by strengthening the stability of the financial sector and combating corruption.
In his statement at the plenary session of the Russia-Africa summit, Russian President Vladimir Putin said that Russia has written off a total of $23 billion in debt to African countries.
Previously in France known Loss of position in Africa and strengthening of the role of the Russian Federation.