Cameroon 2014 Article Iv Consultation

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 149838322X
Size: 79.25 MB
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KEY ISSUES Context. Cameroon’s macroeconomic outlook and risks have deteriorated slightly since the Article IV consultation in 2013. Economic activity has remained strong and inflation subdued, but the fiscal position has worsened; public debt has been rising at a less sustainable pace; government deposits have dwindled; and payment delays have continued. The anticipated growth path may not suffice to reach upper-middle-income country status by 2035. Focus of the consultation and risks. The overarching policy issue remains unchanged: how to set Cameroon on a higher growth path, while mitigating low but growing risks to macroeconomic stability. Spillovers from regional insecurity have become the main exogenous risk; endogenous risks stem from rising contingent liabilities and credit concentration. Past policy advice remains relevant. Key policy recommendations: • Strengthen cash management and expenditure controls to prevent a further accumulation of payment deferrals. • Close the financing gap in 2014, and adopt a downward path for the non-oil primary deficit to rebuild fiscal space and preserve macroeconomic stability. • Improve non-oil revenue by broadening the tax base and streamlining tax exemptions. • Reprioritize public expenditure by reducing fuel subsidies gradually; provide targeted compensation measures for the most vulnerable. • Increase the selectivity of investment projects and adopt a rigorous screening of the financing terms to ensure debt sustainability. • Pursue the resolution of three small distressed banks and support the strengthening of regional bank and microfinance supervision. • Promote higher and more inclusive growth through better targeted educational and social spending, a propitious business climate, and deeper regional integration.

Cameroon

Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484369955
Size: 29.14 MB
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This paper presents key discussions of Cameroon’s 2013 Article IV Consultation. Economic activity in Cameroon has continued to recover gradually from the global financial crisis in 2008–2009, and inflation has remained subdued. In light of growing vulnerabilities, the report suggests to adopt a plan to reduce fuel subsidies gradually, accompanied by targeted social programs for the neediest, to free up resources for public investment. It is also necessary to accelerate resolution of distressed banks and enhance the regulatory framework to promote lending.

Cameroon

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1455205184
Size: 80.11 MB
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Cameroon showed incipient signs of recovery from the global financial crisis. Although growth performance remained constrained under the Poverty Reduction Growth Facility (PRGF), tax and customs administrations were strengthened, macroeconomic stability was preserved, and debt relief under the Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiatives (MDRI) helped firm up debt sustainability. Executive Directors welcomed the new program aimed to accelerate growth through infrastructure development, development of rural and mining sectors, improvement in human resources, regional integration, and export diversification. They emphasized the need to maintain fiscal and financial stability to preserve economic growth.

Communaut Conomique Et Mon Taire De L Afrique Centrale

Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Size: 80.56 MB
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Republic Of Congo

Author: International Monetary Fund. African Dept.;International Monetary Fund. Strategy, Policy, & Review Department
Publisher: International Monetary Fund
ISBN: 1484322029
Size: 27.44 MB
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This paper assesses the Republic of Congo’s discussions in 2013 Article IV Consultation. Though having abundance of natural resources, notably oil and iron ore, Congo has achieved limited progress in poverty alleviation, and remains vulnerable to external shocks. Weak governance and business conditions are significant constraints to private sector development and growth inclusiveness. The IMF report shows that Congo’s main challenge is to ensure long-term macroeconomic stability in the face of oil revenue volatility and exhaustibility, and to make growth more inclusive.

Making Sense Of Change Management

Author: Esther Cameron
Publisher: Kogan Page Publishers
ISBN: 0749472596
Size: 25.52 MB
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The world we live in continues to change at an intense rate. In order to succeed over the next few years, organizations must adapt to tough market conditions by changing their strategies, their structures, their boundaries, their mindsets, their leadership behaviours and of course their expectations of the people who work within them. Ideal reading for anyone who is currently part of, or leading, a change initiative, Making Sense of Change Management is the definitive text in the field of change management, with over 30,000 sales to date. Aimed at students and professionals alike, it provides comprehensive coverage of the models, tools and techniques of successful change management with a focus on individual, team and organizational change to help you apply each concept to unique situations. Now in its 4th edition, it includes a new chapter on exploring the integration of change management with project management and a completely revised and updated section on culture change that takes into account emerging thinking and practice.

2013 Article Iv Consultation

Author: International Monetary Fund. European Dept. Staff
Publisher:
ISBN: 9781475575088
Size: 15.12 MB
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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Global Implications Of Lower Oil Prices

Author: Mr. Aasim M. Husain
Publisher: International Monetary Fund
ISBN: 151357227X
Size: 11.17 MB
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The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.