The economy of Cameroon was one of the most prosperous in Africa for a quarter of a century after independence. The drop in commodity prices for its principal exports –petroleum,cocoa,coffee,and cotton –in the mid-1980s,combined with an overvalued currency and economic mismanagement,led to a decade-long recession. Real per capita GDP fell by more than 60% from 1986 to 1994. The current account and fiscal deficits widened,and foreign debt grew. Yet because of its oil reserves and favorable agricultural conditions,Cameroon still has one of the best-endowed primary commodity economies in sub-Saharan Africa.
The economy of the Central African Republic is $2.321 billion by gross domestic product as of 2019,with an estimated annual per capita income of just $805 as measured by purchasing power parity in 2019.
The International Monetary Fund (IMF) is a major financial agency of the United Nations,and an international financial institution funded by 190 member countries,with headquarters in Washington,D.C. It is regarded as the global lender of last resort to national governments,and a leading supporter of exchange-rate stability. Its stated mission is "working to foster global monetary cooperation,secure financial stability,facilitate international trade,promote high employment and sustainable economic growth,and reduce poverty around the world." Established on December 27,1945 at the Bretton Woods Conference,primarily according to the ideas of Harry Dexter White and John Maynard Keynes,it started with 29 member countries and the goal of reconstructing the international monetary system after World War II. It now plays a central role in the management of balance of payments difficulties and international financial crises. Through a quota system,countries contribute funds to a pool from which countries can borrow if they experience balance of payments problems. As of 2016,the fund had SDR 477 billion.
The economy of Yemen has significantly weakened since the breakout of the Yemeni Civil War and the humanitarian crisis,which has caused instability,escalating hostilities,and flooding in the region. At the time of unification,South Yemen and North Yemen had vastly different but equally struggling underdeveloped economic systems. Since unification,the economy has been forced to sustain the consequences of Yemen's support for Iraq during the 1990–91 Persian Gulf War:Saudi Arabia expelled almost 1 million Yemeni workers,and both Saudi Arabia and Kuwait significantly reduced economic aid to Yemen. The 1994 civil war further drained Yemen's economy. As a consequence,Yemen has relied heavily on aid from multilateral agencies to sustain its economy for the past 24 years. In return,it has pledged to implement significant economic reforms. In 1997 the International Monetary Fund (IMF) approved two programs to increase Yemen's credit significantly:the enhanced structural adjustment facility and the extended funding facility (EFF). In the ensuing years,Yemen's government attempted to implement recommended reforms:reducing the civil service payroll,eliminating diesel and other subsidies,lowering defense spending,introducing a general sales tax,and privatizing state-run industries. However,limited progress led the IMF to suspend funding between 1999 and 2001.
Structural adjustment programs (SAPs) consist of loans provided by the International Monetary Fund (IMF) and the World Bank (WB) to countries that experience economic crises. Their stated purpose is to adjust the country's economic structure,improve international competitiveness,and restore its balance of payments.
Mbuyamu Ilankir "Freddy" Matungulu (born January 4,1955 Belgian Congo is a Congolese economist. He was Minister of Finance of the Democratic Republic of the Congo from 2001 to 2003.
The Economic Community of Central African States is an Economic Community of the African Union for promotion of regional economic co-operation in Central Africa. It "aims to achieve collective autonomy,raise the standard of living of its populations and maintain economic stability through harmonious cooperation".
The Central African CFA franc is the currency of six independent states in Central Africa:Cameroon,Central African Republic,Chad,Republic of the Congo,Equatorial Guinea and Gabon. These six countries have a combined population of 55.2 million people,and a combined GDP of over US$100 billion.
Youssef Raouf Boutros-Ghali or YBG is an Egyptian economist who served in the government of Egypt as Minister of Finance from 2004 to 2011. He was succeeded by Samir Radwan on 31 January 2011.
The Douala Stock Exchange is the official market for securities in Cameroon. It is located in Douala.
The Cameroonian economic crisis was a downturn in the economy of Cameroon from the mid-1980s to the early 2000s. The crisis resulted in rising prices in Cameroon,trade deficits,and loss of government revenue. The government of Cameroon acknowledged the crisis in 1987. Outside observers and critics blamed poor government stewardship of the economy. The government instead placed the blame on the fall of the prices of export commodities,particularly a steep drop in the price of petroleum. President Paul Biya announced that "all our export commodities fell at the same time."
Jean Nkuete is a Cameroonian politician and economist who has been Secretary-General of the Central Committee of the Cameroon People's Democratic Movement (RDPC),the ruling political party in Cameroon,since 2011. He was Executive Secretary of the Economic and Monetary Community of Central Africa (CEMAC) from 1999 to 2006 and served in the government of Cameroon as Minister of Agriculture and Rural Development from 2006 to 2011.
Shamsuddeen Usman,,is a Nigerian economist,banker,technocrat and public servant. He is currently the CEO of SUSMAN &Associates,an economic,financial and management consulting firm headquartered in Nigeria. He was the Finance Minister of Nigeria between June 2007 and January 2009 and also served as the Minister of National Planning from January 2009 to September 2013. Usman is the Chairman of Citibank Nigeria Limited.
Pierre Moussa is a Congolese politician who has been President of the Commission of the Economic and Monetary Community of Central Africa since 2012. He served in the government of Congo-Brazzaville as Minister of Planning from 1979 to 1991;later,he was Minister of Spatial Planning from 1997 to 2002,Minister of Planning from 2002 to 2009,and Minister of State for the Economy and Planning from 2009 to 2012.
Louis-Paul Motazé is a Cameroonian politician who has served in the government of Cameroon as Minister of the Economy since 2015. He previously served as Minister of the Economy from 2007 to 2011 and as Secretary-General of the Office of the Prime Minister of Cameroon from 2011 to 2015. Since 2 March 2018,he has been Minister of Finance of Cameroon.
Teferra Wolde-Semait was an Ethiopian politician who has served as Ministry of Finance and Economic Development,and chairman of the board of the National Bank of Ethiopia from 1977 to 1982.
Rigobert Roger Andely,is a Congolese central banker and academic specializing in monetary and banking economics. He was Vice-Governor of the Bank of Central African States (BEAC) from 1998 to 2002,Minister of Finance in the government of Congo-Brazzaville from 2002 to 2005,and Vice-Governor of the BEAC again from 2005 to 2010.
With the world’s largest production of cacao and cashew nuts,Ivory Coast is one of the leading economic powers in West Africa. It joined the IMF in 1963. Since then,Ivory Coast participated in 14 arrangements and purchased more than 1016 millions in procurement and loans. It now possesses 650.4 million SDR of quotas.
Martin Aristide Okouda was a Cameroonian politician who held various ministerial roles.
The privatization of the electricity sector in Cameroon refers to the process by which the generation,transmission,distribution,and sale of electricity in Cameroon has been transferred from the state to the private sector. This includes the sale of assets and the granting of concessions to the private sector. The landmark event of this process is the sale of 56% of the SociétéNational d'Electricité(SONEL),the fully integrated public company responsible for the generation,transmission,distribution,and sale of electricity in Cameroon,to AES Corporation in 2001. The deal also granted concessions for each sub-sector to the newly formed AES-SONEL company. The new regulatory framework to prepare for this privatization was implemented between 1998 and 2000.
Cameroon