DeniAfrica

Cameroon Tribune reports:

Executive Directors of the World Bank and the IMF concluded that Cameroon had fulfilled the Completion Point conditions under the Enhanced Heavily Indebted Poor Countries (HIPC) Initiative, based on satisfactory implementation of macroeconomic, structural, social and governance measures.
More specifically, it was agreed that Cameroon had established a track record of commitment to PRSP implementation and poverty reduction. The authorities were commended on the actions taken in 2005 to restore fiscal discipline and correct the deterioration of public finance, thereby strengthening macroeconomic stability. It was also noted that the share of budgetary resources allocated to priority sectors, especially social development and infrastructure, had increased steadily since implementation of the first full Poverty Reduction Strategy Paper (PRSP). Finally, progress which has taken place in the implementation of structural reform in particular in the transport and forestry sector was highlighted