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
Littlefish raised $9.5 million in a Series A round led by Partech Partners. The startup plans to expand into more than 10 African markets,...
The European Investment Bank and Bank of Industry signed €135 million ($156.3 million) in loans targeting healthcare manufacturing and...
Togo raises 27.5 billion CFA francs, exceeding 25 billion target Strong demand with 134.5 billion CFA francs bids, 538% coverage Total 2026...
Three African countries are negotiating over $500 million in debt-for-nature swaps Deals aim to cut debt while financing environmental...
Most Read
01

Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...

Telecel Ghana plans 150% investment increase in MTN-dominated market
02

Namibia and Russia agreed to expand cooperation across energy, mining, and agriculture. Both coun...

Namibia and Russia Expand Economic Cooperation Across Key Sectors
03

Four years after Russia’s 2022 invasion of Ukraine, the fertilizer market is facing a new shock as m...

Hormuz Tensions Rattle Fertilizer Markets, Adding Pressure to Global Food Supply
04

Cameroon signs MoUs for $1.5 billion waste-to-energy projects Plans target waste treat...

Cameroon Signs $1.5 Billion Waste-to-Energy MoUs Amid Urban Sanitation Strain
05

Côte d’Ivoire raises 110bn CFA francs, meeting full target Investor demand hits 291bn CFA fra...

Côte d’Ivoire Raises $193 Million as Banks Drive Demand for Short-Term Bills
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.