Covid-19: Cameroon Secures FCFA 127 Billion IMF Loan

Cameroon has mobilized resources to combat the pandemic

The board of the International Monetary Fund (IMF) on Monday approved a disbursement for Cameroon of around FCFA 127 billion ($226 million) to help meet urgent balance of payments needs stemming from effect of preventive measureas put innplace against the COVID-19 pandemic.

The IMF in a statemwnt said the pandemic and a sharp fall in oil prices has dealt a huge blow to Cameroon’s balance of trade, with a big drop in GDP recorded.

Cameroon is also facing an armed conflict in three of its 10 regions, with the anglophone crisis in the NW and SW regions putting an enermous strain on the country’s economy.

Cameroon has sofar recorded 2104 cases of the Covid-19 with 953 recoveries and 64 deaths as of May 3, 2020.

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