This archive report was first published on 6 May 2020.
On May 4, 2020, the Executive Board of the International Monetary Fund (IMF) approved a disbursement of $226 million to support Cameroon in the face of the Covid-19 pandemic and trade shocks.
The IMF stated that the outbreak of the coronavirus and sharp fall in oil prices have severely affected Cameroon's economy, leading to a historic decline in real GDP growth.
According to the IMF, the twin challenges of the Covid-19 pandemic and trade shocks have resulted in substantial fiscal pressures and an urgent balance of payments need.
As of May 5, 2020, Cameroon had reported 2,104 confirmed cases of the virus, 64 deaths, and 953 recoveries, making it the hardest-hit country within the six-member Economic and Monetary Community of Central African States (CEMAC).
Cameroonian authorities had earlier imposed restrictive measures to curb the spread of the virus, but have since relaxed these measures, allowing bars, restaurants, and other leisure spots to operate after 6pm, and permitting public transportation to operate normally.
Prime Minister Joseph Dion Ngute acknowledged that the measures to contain the pandemic had helped the country but also created economic and social hardship in several areas, including transport, hotel, and catering sectors.
Dr. Dion Ngute stated, 'The actions taken by the government to contain this pandemic are beginning to bear fruits. Although screening tests reveal new cases of coronavirus-positive patients, the number of people declared healed of this disease in our country has been on the rise. Furthermore, the mortality rate from this virus remains low.'
