Public Management

Cameroon: The IMF asks for “strict budgetary controls and transparency” in the use of the XAF136.5 bln RCF

Cameroon: The IMF asks for “strict budgetary controls and transparency” in the use of the XAF136.5 bln RCF
Thursday, 07 May 2020 15:56

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

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Cameroon to tax foreign online platforms from Jan. 1, 2026 Non-resident firms face 3% minimum levy or 30% corporate tax Reform targets...
Partnership targets financing, financial inclusion, business formalization Pilot formalized 343 firms; nationwide programme targets 5,000...
Nigeria stock market posts record 36.6 trillion naira capitalisation gain in 2025 All-Share Index jumps 51%, driven by earnings, dividends, FX...
Egypt receives $3.5 billion initial payment from Qatar-backed coastal project Deal targets Mediterranean real estate and tourism...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...

Nigeria’s Tax Overhaul Set to Take Effect Amid Fury Over ‘Illegal’ Changes
03

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
04

Partnership targets priority projects, startup support and skills training Deal aligns with...

Gabon Signs MoU With Huawei on Digital Economy Push
05

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.