Cameroon: Seventh Reviews Under the Extended Arrangement Under the Extended Fund Facility and the Arrangement Under the Extended Credit Facility, Request for a Waiver of Applicability of Performance Criteria, and Second Review Under the Resilience and

This paper presents Cameroon’s Seventh Reviews under the Extended Arrangement under the Extended Fund Facility (EFF) and the Arrangement under the Extended Credit Facility (ECF), Request for a Waiver of Applicability of Performance Criteria, and Second Review under the Resilience and Sustainability Facility (RSF) Arrangement. Cameroon’s economic recovery has continued, but growth remains subdued. In order to enhance medium-term growth, bolder action is needed to mobilize non-oil revenues, mitigate financial sector vulnerabilities, and address governance and anti-corruption weaknesses. Cameroon’s economic recovery has continued, but growth remains subdued. The medium-term outlook remains broadly positive while the balance of risks is tilted to the downside. Program performance was broadly satisfactory, and the ECF-EFF and RSF arrangements continue to support the authorities’ efforts to maintain macroeconomic stability, implement priority reforms, and advance the climate agenda to promote sustainable growth. Cameroon has made good progress under the RSF. It is essential to maintain the reform momentum and strengthen the institutional framework for climate policies to build resilience to climate shocks and catalyze new investments from donors and the private sector.