A mission is in the country to see the path covered and discuss prospects for 2014.
A joint International Monetary Fund (IMF)/World Bank team is in Cameroon to assess the country’s economic performance during the fiscal year rounding off and to discuss the 2014 economic prospects with development stakeholders. The Mario de Zamaroczy-led team yesterday November 19 held talks with the Minister of Finance, Alamine Ousmane Mey and his close collaborators in the conference hall of the ministry.
The working session between the two parties focuses on recent economic and financial development, economic and financial prospects, reforms on course, state of banks in difficulties, the next Article IV Consultation as well as preparation for a conference on financing infrastructure billed for March 2014.
Traditionally, the joint IMF/World Bank team visits the country twice a year, in spring when it has a larger and longer mission to review economic development, look at future development and challenges. “This one now is a working visit, a smaller and shorter mission, and we are particularly interested, this time around, in the execution of the budget of 2013,” the team leader said. Mario de Zamaroczy told the press that while they do that, “we present our independent and external view on a number of major issues confronting the country. We advice the authorities on how we would recommend on decision-making process. We will also discuss with them the challenges that are confronting the sub-region and Cameroon.”
According to the programme, the team will also hold working sessions with the Minister of the Economy, Planning and Regional Development, National Director of the Bank of Central African States (BEAC), the National Hydrocarbons Corporation, officials of the Hydrocarbons Price Stabilisation Fund, NGOs and some public enterprises notably CAMPOST and Camair-Co. Besides the country’s financial situation, the team is also assessing the implementation of the ten-year development plan contained in the Growth and Employment Strategy Paper.
They are also scheduled to hold talks with some of the country’s top executives. Equally, the joint team will take part in the presentation next Friday November 22 of the Regional Economic Prospects before rounding off the visit on Monday November 25.
