PM Yang, IMF Official Discuss Growth Projects

The representative of the International Monetary Fund says Cameroon has necessary resources to become an emerging country. The outgoing representative of the International Monetary Fund (IMF) to Cameroon, Malangu Kabedi-Mbuyi, Thursday, July 09 said the institution was confident that Cameroon has the necessary human and natural resources to attain the

objective of becoming an emerging country in the near future. Malangu Kabedi-Mbuyi was at the Star Building to say goodbye to the Prime Minister, Philemon Yang after having stayed in the country for four years. ??We discussed what Cameroon was able to achieve within the four years of my tenure in the country within the framework of the government economic and financial programme supported by the IMF??, Malangu Kabedi declared to reporters after their discussions. She further said, ??we also discussed what remains to be done on structural reforms and major projects that could attract growth and development for government??s objectives, key of which is making Cameroon an emerging country to be attained??. Discussions between Philemon Yang and Malangu Kabedi-Mbuyi also centred on some aspects of the recent IMF board meeting that granted Cameroon??s request for 140 million US dollars (72 billion CFA francs) of resources to mitigate the impact of the global financial crisis. ??What the IMF executive board discussed and approved was not a programme as such. It is just giving Cameroon access to a mechanism whereby the IMF approves the request by the authorities to have access to resources needed to help the country mitigate the impact of the crisis??, the IMF official stated. Malangu Kabedi disclosed that from the analysis of the IMF, the crisis has an impact in Cameroon??s budgetary resources and specified that, ?? the IMF disbursement under this mechanism which is on high concession terms for all low-income countries, is going to contribute to help the government face the impact of the global financial crisis in the economy??. The International Monetary Fund, the official said has an ongoing policy dialogue with Cameroon as its member, especially at this moment the country is preparing a strategy for growth and employment. The outgoing representative of the IMF used the audience to present to the Prime Minister, her successor, Ekué G. Kpador who will take over office later on. Malangu Kabedi-Mbuyi goes back to the IMF headquarters in Washington DC, USA.
Emmanuel KENDEMEH, Cameroon Tribune

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