INTERNATIONAL MONETARY FOND (IMF) STRONGLY OPPOSES CAMEROON GOVERNMENT'S HEAVY SUBVENTION ON FUEL

Although the Bretton Woods experts applaud the nation's resilience to exogenous shocks, the IMF is open about its concerns about the surge in fuel subsidies at the pump.

Between February and the end of May, Cameroon imported petroleum products and supported pump prices for more than 120 billion CFA francs due to the conflict in Ukraine and the spike in crude oil prices on the global market.

The IMF opposes these subsidies because it thinks they would prevent Cameroon from achieving its goals, particularly the smooth implementation of the economic and financial program it agreed to in July 2021 and which will enable it to receive a sizable amount of fiscal help.