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IMF/WORLD BANK ANNUAL MEETING  : THE CAMEROON SUCCESS STORY

IMF/WORLD BANK ANNUAL MEETING : THE CAMEROON SUCCESS STORY

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A visibly impressed Louis paul Motaze, Cameroon’s minister of Finance acknowledged that the praises showered on Cameroon by the executives of the Bretton Wood Institutions follow key reforms undertaken in the past years in Cameroon, as recommended by the IMF with the Extended Credit Facility since 2017.


Outlining some of the steps taken to reduce spending, which are yielding favorable results minister Motaze mentions the the measure restricting government officials from embarking on expensive trips abroad.

On the instructions of the Head of State H.E Paul Biya, and the Prime minister, Head of Government, H.E Joseph Dion Ngute, government officials have been asked to reduce foreign trips which are done at the expense of the state “.

A head count to know actual persons working for the state is another strategy aimed at cutting wasteful spending.

The count will help the government save up to three billion Francs CFA every month which earlier went to paying ghost workers“. Motaze said
He also mentioned the guidelines given to help vote holders reduce government spending.

THE CHALLENGE AHEAD

Nonetheless, finance officials are not to sleep on their laurels.
Louis paul Motaze is aware and says always that Improving on internally generated revenue areas and reducing state dependence on foreign aid are the challenges ahead. More importantly, economic growth.

You must not only work to stabilise the national economy, but also to relaunch significant growth, because this is what business persons, and the population in general are waiting for
Job creation is another challenge.

R.A, Vision Web