Cameroon's debt does not concern the IMF - Resident Representative

Ms. Boriana Yontcheva, IMF resident representative in Cameroon, has stated that "The stock of Cameroon's debt does not concern the International Monetary Fund (IMF) because it is still very low (less than 30%) given that Cameroon, like other countries in the region benefited from HIPC."

Ms. Yontcheva made this statement at a meeting with the Alamine Ousmane Mey, the Minister of Finance (MINFI) in Yaoundé on Tuesday.

"I came to see the Minister of Finance and to say goodbye because after three years in Cameroon, I have come to the end of my term," said Boriana Yontcheva. She continued that the purpose of this hearing was also to talk about the future challenges of Cameroon.

"We spoke on vital discussions we had during my term and how to sustain excellent relations between the IMF and Cameroon. Of course we mentioned the challenges Cameroon is facing."

It includes the fall in the international oil prices that has a strong negative impact on the estimates of Cameroon, as an oil exporter. Discussions between the two personalities also focused on the security challenges that have an impact on the state's expenditure.

In contrast, emphasized the resident-representative of the IMF, “Cameroon, like other countries, now has access to capital markets. Our recommendation is that it borrows wisely. It's very important to ascertain how the future debts will be handled. And I think that Cameroon and the IMF have the same concern on incurring debt on sustainable-oriented projects that are beneficial to the growth of the country and will generate funds for reimbursement."