On May 4, 2020, when granting $226 million (about XAF135.6 billion) to Cameroon under the Rapid Credit Facility (RCF), the International Monetary Fund (IMF) indicated that it would keep an eye on the use of these facilities provided for the fight against the coronavirus.
"IMF emergency financing under the RCF will support the government's efforts to mitigate the impact of the twin shocks. (...) Strict budgetary controls and transparency will be needed to ensure that the assistance under the RCF meets its intended objectives,” said Mitsuhiro Furusawa (photo), Deputy Managing Director and Acting Chairman of the IMF.
On May 6, during an interview on public channel CRTV, Finance Minister Louis Paul Motaze said that the money was indeed earmarked for the fight against coronavirus, but "the IMF does not tell us how to use it.”
"We say: these are our problems, these are our goals and this is what we want to do in the health sector,” he added.
Motaze further indicated that he would assist the Minister of Public Health in the elaboration of the reports on how the resources are used.
Sylvain Andzongo
Ethiopia agreed in principle with investors holding over 45% of its $1 billion eurobond due 2...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...
African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...
Collaborative programs are emerging across Africa to promote inclusive employment Public, private, and international actors are increasingly...
Cabinet approves bill creating the National Media Regulation Council New body replaces the audiovisual regulator set up in 2006 Reform expands...
This week in Africa, Africa CDC continues its clinical trial on mpox, while a new study highlights limits in malaria control efforts. Surveillance against...
2026 budget introduces a 25%–35% cut in the annual forestry fee Incentive targets certified operators to curb illegal logging Past underreporting cost...
The Sundance Institute selected three African films from more than 16,000 submissions across 164 countries. The 2026 festival will run from January 22...
Organizers opened submissions for the sixth Annaba Mediterranean Film Festival from Jan. 8 to Feb. 28, 2026. The festival accepts feature films, short...