Cameroon: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Cameroon

The 2026 Article IV Consultation highlights that Cameroon, the Central African Economic and Monetary Community’s largest economy and a Fragile and Conflict Affected State, has established generally sound fiscal policies but faces structural and policy challenges which hamper economic growth. Cameroon’s growth is constrained by infrastructure gaps, a shallow financial sector, weak governance in state-owned enterprises, and regulatory barriers. While the 2026 budget seeks to correct election-related fiscal slippages from 2025, efforts to scale up capital spending are limited by tight liquidity and elevated debt distress risks. Enhancing public investment also requires stronger public investment management, as project planning and execution remain slow and inefficient. Against a fragile backdrop marked by post-election unrest, policy discussions emphasize balancing fiscal sustainability with growth and employment objectives. Key priorities include improving access to finance, strengthening investment management, leveraging concessional financing, and easing regulatory constraints on private investment. Maintaining prudent fiscal policies and adhering to regional fiscal frameworks, alongside domestic revenue mobilization, will support debt sustainability. Accelerating public financial management reforms, strengthening the banking sector, and reducing state involvement in finance are critical to enhancing stability and fostering private sector development.