By Etienne Mainimo Mengnjo
The Minister of the Economy, Planning, and Regional Development (MINEPAT), Alamine Ousmane Mey, and a delegation from the International Monetary Fund (IMF) have held discussions focused on growth perspectives in Cameroon.
This was one among the so many things discussed during a working session that took place in Yaoundé on Monday, February 2. The working session included officials from MINEPAT and a team of over nine IMF representatives led by Christine Dieterich.
Following an extensive in-camera session, Christine Dieterich characterized the discussions as “very useful” and highlighted their productive nature, setting the stage for further dialogue between the IMF and Cameroonian authorities.
“It is a general consultation on macroeconomic perspectives, conducted annually for all member countries of the IMF. We agree with the Minister of the Economy that targeted consultations on growth perspectives are essential,” Dieterich stated.
She noted that the Minister and the IMF team concurred that one of the primary successes of Cameroon’s policies has been the maintenance of a stable fiscal position, crucial for overall stability in the CEMAC sub-region.
In addition to this stability, Dieterich emphasized the need for strengthening growth to enhance well-being and employment opportunities moving forward. “It will be vital to achieve the right balance between the country’s needs, the social needs emphasized by the head of state, and the significant requirements for infrastructure,” she added.
Since arriving Cameroon on Saturday January 31, the IMF delegation held discussions with the private sector in Douala, highlighting the urgent need for improved infrastructure. Key concerns included energy and telecom sectors, which require better regulation.
“To ensure that the government’s strategy for enhanced industrialization in Cameroon translates into more jobs, it is essential to secure investment contracts while maintaining fiscal stability,” Dieterich stated.
The IMF delegation will in the coming days continue consultations with Cameroonian authorities. They are scheduled to pay a courtesy visit to the Ministry of Finance, as well as to the National Director of Bank of Central African State (BEAC). Additionally, the delegation will hold a technical meeting with the budget sector.