IMF Staff Country Reports

Cameroon: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon

November 9, 2020

Download PDF

Preview Citation

Format: Chicago

Cameroon: Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon, (USA: International Monetary Fund, 2020) accessed November 21, 2024

Also available in: français

Summary

Since the approval of the first Rapid Credit Facility (RCF-1) request on May 4, 2020 (IMF Country Report No 20/185), weaker external demand in major trading partners (China and Europe) and a more pronounced impact of containment measures to slow the rising number of COVID-19 cases, have further deteriorated growth prospects and worsened Cameroon’s external and fiscal positions. Given limited fiscal buffers and urgent balance of payments needs due to the pandemic, the authorities allowed the current ECF arrangement expire at end-September, reiterated their interest on a successor arrangement, and in the meantime requested financial assistance under the “exogenous shocks window” of the RCF equivalent to 40 percent of quota (SDR 110.4 million). This additional request will bring the total disbursement under the RCF to 100 percent of quota in 2020.

Subject: Arrears, Asset and liability management, Commodities, COVID-19, Credit, Debt relief, Debt service, Fiscal policy, Fiscal stance, Health, Money, Oil, Rapid Credit Facility

Keywords: Central Africa, COVID-19, CR, Credit, Debt relief, Emergency financing request, Europe, Fiscal stance, Global, IMF emergency assistance, ISCR, Oil, RCF disbursement, RCF financing, Staff appraisal, Staff statement, Sub-Saharan Africa

Publication Details

  • Pages:

    49

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2020/294

  • Stock No:

    1CMREA2020003

  • ISBN:

    9781513560304

  • ISSN:

    1934-7685

You May Also Be Interested In...

Guidance Note On The Financing Assurances And Sovereign Arrears Policies And The Fund's Role In Debt Restructurings

November 18, 2024

South Africa: Technical Assistance Report-Report on the Compilation of Energy and Air Emissions Accounts Mission (June 10-14, 2024)

November 8, 2024

Lao People's Democratic Republic: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People's Democratic Republic

November 8, 2024

The Federal Democratic Republic of Ethiopia: First Review Under the Extended Credit Facility Arrangement, Request for Modification of Performance Criteria, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Executive Director for The Federal Democratic Republic of Ethiopia

November 4, 2024