Rédaction Africa Links 24 with Esther FOSSI
Published on 2024-03-18 13:20:13
The Estonian is coming to replace Nicholas Staines in this position, who arrived in Cameroon in 2021, and whose 3-year term is completed. The Estonian economist will officially take up his duties in Yaoundé, the country’s political capital, in June 2024 for a three-year term. Among other tasks, Toomas Orav will have to carry out various information activities over the three years to promote a better understanding of the IMF’s work and macroeconomic issues. He will also facilitate the economic reforms already initiated by his predecessors.
Originally from Estonia, Toomas Orav is a product of the IMF. His 14 years of experience within the Fund indicate that he is familiar with the continent. He spent over nine years in the institution’s Africa department, with a particular focus on Equatorial Guinea, Gabon, and Cameroon. As part of his activities, he notably contributed to the validation of the report on “General Issues on Cameroon” in 2015. This document recommended to the Cameroonian government the need to eliminate the subsidy system for petroleum products.
It should be noted that the IMF is a strategic partner of Cameroon, providing technical and financial support in the formulation, implementation, and monitoring of public policies. Currently, Cameroon is implementing an Economic and Financial Program supported by the Extended Credit Facility and the Extended Fund Facility with the IMF, covering the period 2021-2024. The fifth review of this Program took place in October-November 2023, and its findings were approved by the Fund’s Board of Directors. This allowed Cameroon to receive significant financial support, totaling 72.7 million US dollars, bringing the total financial support for the 2021-2024 PEF to 566.3 million US dollars.
Read the original article(French) on Journal du Cameroun
