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
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Naira strengthens to 1,348 per dollar, boosting assets Lagos market gains 25,000 billion naira in...
Cameroon wins gold at 2026 Cacao of Excellence Awards Top sample selected from 191 entries worldwide Award boosts position in premium “fine flavour”...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private investment Progress slowed amid coordination,...
In 2025, the development of the Kamoa-Kakula copper complex, the largest in the Democratic Republic of the Congo (DRC), was marked by two major events: a...
DR Congo bans South African livestock imports over FMD Measure suspends permits for animals and animal products South Africa ramps up vaccination,...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...