The head of the visiting International Monetary Fund (IMF), World Bank (WB) and African Development Bank (ADB) joint mission to Cameroon, Mauro Mecagni yesterday, March 29 told Members of Parliament that the recovery from the crisis of 2009 is being consolidated in Cameroon. Members of the visiting mission had a meeting with members of the Committee on Finance and Budget and that of Economic Affairs of the National Assembly. Hon. Moutymbo Rosette Ayayi, chairperson of the Finance Committee, presided at the meeting.
Before coming to the National Assembly, the members of the visiting delegation had earlier had working sessions with the various segments of Cameroon’s economy that include government officials, private sector, financial institutions and enterprises. “We have verified that the recovery from the crisis of 2009 is being consolidated in Cameroon”, Mauro Mecagni told journalists in an interview after the meeting. He said actors in the various segments of the country’s economy informed them that demand for products was picking up, there was increase in local agricultural production and inflation stood at 1.3 percent in 2010. He lauded government’s initiative to sell treasury bonds to finance projects, stating that it was a positive step to strengthen the financial market in Cameroon. As to government’s decision to recruit 25,000 certificate holders into the public service, the head of the IMF mission said there were discussing how that could boost growth and also how the exercise has been budgeted.
Concerning discussions with Members of Parliament, he said, “We had the opportunity to discuss the activities of the IMF in Africa, explain the reforms the IMF has implemented in the last few years and how the reforms can address the concerns and preoccupations”. The major challenges government must address, Mauro Mecagni said, include infrastructure development affecting international trade and agriculture, absorption of the rapidly growing labour force and effectively managing the budgetary situation that is relatively tight.
