Cameroon: Request for an Arrangement under the Resilience and Sustainability Facility-Press Release; Staff Report; and Statement by the Executive Director for Cameroon

International Monetary Fund

No 2024/053, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents Cameroon’s Request for an Arrangement under the Resilience and Sustainability Facility (RSF). Climate change presents substantial risks for Cameroon. Climate change poses an imminent threat to livelihoods and could result in significant output losses, while worsening food insecurity and conflicts, and exacerbating poverty, inequality, and population displacements. This underscores the need to strengthen the country’s preparedness and resilience to ensure that climate change impact does not jeopardize human capital accumulation or inclusive growth. The three-year upper credit tranche (UCT) arrangements under the Extended Credit Facility and the Extended Fund Facility approved in July 2021 remain on track. While an arrangement under the RSF is normally approved concurrently with the UCT review, the standalone RSF request allowed time to further strengthen proposed reform measures, providing the necessary policy safeguards for RSF financing. The RSF will provide timely support for the climate reform momentum ahead of the 2025 elections and sustain the growing engagement with multiple stakeholders and donors on complementary actions.

Keywords: RSF arrangement; RSF reform package; RSF Reform Measures; IMF Resilience and Sustainability Facility; RSF request; Climate change; Climate policy; Global (search for similar items in EconPapers)
Pages: 102
Date: 2024-02-22
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