IMF approves a $226 million disbursement to aid Cameroon address the economic impact of COVID-19

The Executive Board of the International Monetary Fund (IMF) has approved the Disbursement of US$226 million under the Rapid Credit Facility (RCF) to aid Cameroon address the economic impact of the coronavirus pandemic.
This amount is to support the Government’s efforts in addressing urgent balance of payment needs stemming from the COVID-19 pandemic and the terms of trade shocks from the sharp fall in oil prices leading to a historic fall of real GDP growth.
 
To mitigate the impact of the pandemic, the government has taken several actions to contain the spread of the pandemic, increase health spending, strengthen existing social safety nets and provide support to affected businesses and households.
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