Cameroon: Fourth Reviews Under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Waiver for Nonobservance of Performance Criterion and Modification of Performance Criteria-Press Release; Staff Report; and State

This paper highlights Cameroon’s Fourth Reviews under the Extended Credit Facility and the Extended Fund Facility Arrangements, and Requests for Waiver for Nonobservance of Performance Criterion and Modification of Performance Criteria. Cameroon’s economic recovery has continued in an uncertain domestic and global environment, with growth estimated at 3.8 percent in 2022 and expected to reach 4 percent in 2023, supported mainly by non-oil production. Sustained reforms will be needed to create additional fiscal space for productive investment and social spending, while maintaining debt sustainability and boosting Cameroon’s growth and resilience. The medium-term outlook remains positive, provided reforms continue and the external environment becomes supportive. Real gross domestic product growth is expected to reach 4 percent in 2023 and to average 4.4 percent in the medium term. Further measures are needed to improve the business climate, including by strengthening financial sector stability and inclusion.