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
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...
The Democratic Republic of Congo priced its first dollar bonds below Angola and Congo-Brazzaville yields, two sovereigns already known to international...
Up to 15,000 tourism jobs in Austria targeted for Tunisian workers Program expands beyond France under broader EU partnerships Initiative seen as...
New Johannesburg center aims to train partners and expand AI capabilities Focus on moving local firms from resellers to solution developers Initiative...
AfDB launches initiative to redesign how Africa mobilizes and deploys capital Financing gap exceeds $400 billion despite large domestic...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...