Cameroon Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon

Since the approval of the first Rapid Credit Facility (RCF-1) request on May 4, 2020 (IMF Country Report No 20/185), weaker external demand in major trading partners (China and Europe) and a more pronounced impact of containment measures to slow the rising number of COVID-19 cases, have further dete...

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Bibliographic Details
Corporate Author: International Monetary Fund African Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2020
Series:IMF Staff Country Reports
Subjects:
Oil
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Cameroon  |b Request for Disbursement Under the Rapid Credit Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2020 
300 |a 49 pages 
651 4 |a Cameroon 
653 |a Fiscal stance 
653 |a Rapid Credit Facility 
653 |a Health 
653 |a Credit 
653 |a Infectious & contagious diseases 
653 |a Finance 
653 |a Debt service 
653 |a Public finance & taxation 
653 |a Oil 
653 |a Investments: Energy 
653 |a Fiscal Policy 
653 |a Exports and Imports 
653 |a Arrears 
653 |a International Lending and Debt Problems 
653 |a Money 
653 |a Commodities 
653 |a Energy: General 
653 |a Macroeconomics 
653 |a Diseases: Contagious 
653 |a Communicable diseases 
653 |a Financial Risk Management 
653 |a COVID-19 
653 |a Debt relief 
653 |a Short-term Capital Movements 
653 |a Monetary economics 
653 |a Current Account Adjustment 
653 |a Debt Management 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Debt 
653 |a Fiscal policy 
653 |a Asset and liability management 
653 |a International economics 
653 |a Health Behavior 
653 |a Debts, External 
653 |a Petroleum industry and trade 
653 |a Sovereign Debt 
653 |a Investment & securities 
653 |a Public Finance 
653 |a Money and Monetary Policy 
710 2 |a International Monetary Fund  |b African Dept 
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520 |a Since the approval of the first Rapid Credit Facility (RCF-1) request on May 4, 2020 (IMF Country Report No 20/185), weaker external demand in major trading partners (China and Europe) and a more pronounced impact of containment measures to slow the rising number of COVID-19 cases, have further deteriorated growth prospects and worsened Cameroon’s external and fiscal positions. Given limited fiscal buffers and urgent balance of payments needs due to the pandemic, the authorities allowed the current ECF arrangement expire at end-September, reiterated their interest on a successor arrangement, and in the meantime requested financial assistance under the “exogenous shocks window” of the RCF equivalent to 40 percent of quota (SDR 110.4 million). This additional request will bring the total disbursement under the RCF to 100 percent of quota in 2020