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HomeAfricaIMF prescribes own financial guidelines for Cameroon

IMF prescribes own financial guidelines for Cameroon

The head of the joint mission of the International Monetary Fund (IMF), the World Bank and the African Development Bank (AfDB), Mario Zamaroczy, Monday recommended a number of guidelines for Cameroon to integrate in its 2013 Finance Act.

The IMF proposals include the promotion of growth, a consolidated financial system, enhanced revenue and expenditure limitation, according to a PANA report.

The joint mission has been in Yaounde since Monday for a week-long working visit during which it will assess Cameroon’s economic situation over the last 10 months of 2012 and determine the national economic outlook for 2013.

The mission met Monday with Alamine Ousmane Mey, the Cameroonian Minister of Finance and officials of the Bank of Central African States (BEAC).

During its last mission to Cameroon in May, the IMF had forecast for Cameroon a 5% economic growth for 2013, provided that the central African country complied with a number of requirements, including continuing the implementation of structuring investments and promoting the private sector through the improvement of the business climate and enhancement of the financial sector.

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