Cameroon: First Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF)

Macroeconomic performance has been satisfactory, and program implementation under the Poverty Reduction and Growth Facility arrangement has also been good. The medium-term projections have been updated in anticipation of relief under the Multilateral Debt Relief Initiative (MDRI). Despite recent steps, governance remains weak. The slowdown in non-oil real growth is a cause for concern and calls for determined actions by the government. Relief under the enhanced Heavily Indebted Poor Countries Initiative and MDRI would reduce Cameroon’s debt to sustainable levels.