Lukong Pius Nyuylime
21 January 2004
It was a rather technical mission during which Cameroon's economic performance was systematically reviewed.
It will be exactly ten days tomorrow since the delegation of the International Monetary Fund (IMF) arrived in Cameroon on an economic assessment and follow up mission. Quite unusual to Cameroonians to receive an IMF/World Bank delegation outside the agreement in the economic programme under execution. But the delegation, led by Maciejewski and accompanied by three eminent economists, came to clear the way for the next economic review billed for early March, 2004.
From the look of things, it was a review ahead of the real review mission as testified by the intensity of work the delegation had last Monday with the Minister of Finance and Budget, Michel Meva'a m'Eboutou. Also on hand to participate in the working session, were the Minister of Economic Affairs, Programming and Regional Development, Martin Okouda, the Minister delegate at the Ministry of Finance and Budget in charge of the Budget, Roger Melingui and other authorities concerned with the implementation of government's economic and financial programme. Last Monday's meeting marked a turning point in the visit that took Maciejewski and his team specifically to Douala and Yaounde. In Douala, they met with businessmen and in Yaounde with administrative authorities notably the Follow up committee of the HIPC initiative. In all, the IMF mission assessed the recent economic development in Cameroon and examined the progress that has been made in implementing the economic and financial programme supported by the three-year arrangement under the Poverty Reduction and Growth Facility (PRGF).
The assessment as explained by the Minister of Finance and Budget, Michel Meva'a m'Eboutou concerned specifically the period from September 1 to December 31, 2003. From every indication, everything seem to be going on well, but Michel Meva'a m'Eboutou is careful not to release official results that may call for the production of a review report by the technical services of the IMF and the World Bank to be presented to the board of governors of the two institutions.
As the team leaves tomorrow, one thing is clear. As stated by Michel Meva'a m'Eboutou, "the Cameroon economy is doing fine and has succeeded in resisting the double chock caused by the energy deficit and the marching of the financial year to the calendar year."
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